549 Buckingham Road

Property Summary: 549 Buckingham Road, Winnipeg

Section 1: Key Characteristics & Appeal

This property is a classic 1959 one-storey bungalow in the Eric Coy neighbourhood, distinguished by its exceptionally large lot of over 19,000 square feet—a rare find that places it in the top 2% of all properties in Winnipeg for land size. The home itself offers 1,150 sqft of living space with a finished basement and an attached garage.

Its primary appeal lies in the significant potential afforded by the vast, private yard. This isn't just a garden; it's a canvas for expansion, recreation, or gardening on a grand scale. The home suits two main types of buyers: those seeking a solid, move-in-ready bungalow with unparalleled outdoor space for a family or hobbies, and visionaries or builders who see the long-term value in the land itself for future development or a major renovation. While the house is older and modest in size compared to its plot, its city-wide ranking for lot size represents a unique opportunity that is increasingly hard to find within city limits.

Section 2: Frequently Asked Questions

1. What does the "ranking" data mean?
The rankings compare this property against others on its street, in Eric Coy, and across all of Winnipeg for specific metrics. For example, being in the "top 2%" for land size in Winnipeg means only 2% of properties have a larger lot, highlighting a key strength.

2. Is the lot subdividable?
This is a crucial question given the lot size. Prospective buyers must consult directly with the City of Winnipeg's Planning Department to investigate zoning bylaws and any potential for subdivision, as this is not guaranteed.

3. How updated are the home's major systems?
As a home built in 1959, the age of critical components like the roof, plumbing, electrical, and foundation should be thoroughly investigated during the inspection process to understand future maintenance considerations.

4. Why is the assessed value higher than the last sale price?
The 2024 assessment is $406,000, while the home last sold for $328,000 in 2017. The increase reflects market changes over seven years and the assessed value of the unique, large lot. The final market value is determined by current buyer competition.

5. What is the neighbourhood character?
Eric Coy features a mix of original bungalows and newer homes. A large lot like this may be surrounded by properties of varying sizes and styles, so visiting the street at different times is recommended to get a feel for the area's atmosphere and long-term trends.