Property Summary: 542 Buckingham Road

Key Characteristics & Appeal

This property is a classic 1978 one-storey bungalow situated on an exceptionally large, private lot of over 38,000 square feet in Winnipeg's Eric Coy neighbourhood. With 1,556 sqft of living space, an unfinished basement, and an attached garage, it offers solid fundamentals. The primary appeal lies in its remarkable land size and established, quiet location. The lot ranks in the top 1% locally for sheer scale, presenting a rare canvas for gardening, recreation, or future expansion. While the home itself is of average size for the area, its value is anchored by the land, as reflected in an assessed value ranking in the top 12% city-wide.

This home would best suit a buyer who prioritizes outdoor space and privacy over a modern, turn-key interior. It’s an ideal match for someone with a vision—whether that's creating extensive gardens, adding outdoor living structures, or gradually updating the home itself. The unfinished basement offers flexible storage or future development potential. It represents a classic Winnipeg value proposition: a comfortable home on a truly standout piece of land, appealing to those who see long-term potential in both the property and the established community.

Frequently Asked Questions

1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Eric Coy, and across all of Winnipeg. For example, being in the "top 1%" for lot size means it is larger than 99% of properties in those areas, highlighting the lot as a key feature.

2. Is the unfinished basement a drawback?
Not necessarily. While it requires an investment to finish, it provides valuable storage and mechanical space and offers a blank slate for future customization, whether for additional living space, a workshop, or utility rooms, without needing to undo previous work.

3. The home was built in 1978. What should I consider?
A home of this age will likely have original or older major systems (roof, windows, furnace). A thorough inspection is essential to understand the condition and plan for potential updates, which is typical for well-maintained homes in this vintage.

4. Who would this property NOT suit well?
It may not suit buyers seeking a modern, low-maintenance home ready for immediate move-in without any projects. The scale of the lot also requires more upkeep than a standard yard, and the interior reflects its era.

5. How does the large lot impact value and costs?
The lot is the property's premier asset, significantly boosting its assessed value and long-term equity potential. However, it also means higher property taxes relative to similar-sized homes on smaller lots and greater responsibility for landscaping maintenance or snow clearing.