565 Buckingham Road

Property Overview

This 1957-built, single-story home on Buckingham Road in Winnipeg’s Eric Coy neighbourhood offers a distinct proposition. Its primary appeal lies in the exceptionally large, approximately 19,000 sqft lot, which places it in the top 2% of all properties in Winnipeg for land size. The house itself is a modest 1,209 sqft bungalow with an attached garage and no basement. Recent sales in 2021 and 2022 show significant value appreciation.

The property suits buyers prioritizing land over living space. It’s ideal for someone seeking immense outdoor potential—gardens, recreation, or future expansion—within the city. It would also appeal to an investor or builder who sees ultimate value in the lot itself. The home’s older age and smaller footprint mean it’s less suited for those seeking immediate, modern luxury or extensive finished living space without a renovation project. A thoughtful perspective is that this property represents a strategic entry into a mature neighbourhood, where the value is anchored by the scarce resource of land, not the depreciating structure upon it.

Frequently Asked Questions

1. What can be done with such a large lot?
Beyond extensive gardening and private outdoor living, a lot of this size (over 1/3 of an acre) may have potential for additions like a large workshop, garage, or even subdivision, subject to all City of Winnipeg zoning and bylaw approvals.

2. The house is older and smaller. What are the renovation considerations?
As a 1957 bungalow with no basement, any major expansion would require an addition. The mechanical systems, roof, and insulation should be carefully inspected to understand modernization needs and costs versus the value of the land.

3. Why have the assessed and recent sale values increased so notably?
The sharp rise likely reflects the soaring market value of developable land within Winnipeg. The assessment and sales prices are increasingly capturing the premium for the lot's size and potential, not just the existing house.

4. Is the lack of a basement a major drawback?
It limits storage and potential for below-ground living space like a rec room or suite. However, for some buyers, it eliminates concerns about basement flooding or renovation, shifting the focus squarely to the main floor and the land.

5. Who is the most likely buyer for this property?
Three types: a homeowner wanting a unique, private oasis with room to grow; a builder/investor viewing it as a land play; or a buyer planning a custom, single-level living home who might consider replacing the existing structure long-term.