579 Buckingham Road

Property Overview

This 1966-built, one-storey home sits on a notably large, approximately 19,000 sqft lot in the Eric Coy neighborhood. Its key appeal lies in the exceptional scale of its land, which ranks within the top 2% of all properties in Winnipeg for size, offering rare potential for expansion, gardening, or outdoor living. The 1,222 sqft bungalow features a finished basement and an attached garage. While the home itself is of average size for the area and is now 60 years old, its value is fundamentally anchored to its expansive lot. Recent assessments and a 2021 sale price around $425,000 reflect this premium.

This property would best suit a buyer who prioritizes land over a turnkey modern home. It's ideal for someone with a vision for the outdoors, looking for a long-term family home with room to grow, or an investor/developer who recognizes the underlying value of the lot. It may also appeal to those comfortable with the maintenance and potential updates required for a home of this vintage, seeing it as a canvas to personalize.

Frequently Asked Questions

1. What is the true standout feature of this property?
Beyond the house itself, the nearly half-acre lot is the defining asset. It offers a level of space and privacy that is increasingly rare within the city, providing long-term flexibility that a typical suburban lot cannot.

2. Is the house in move-in condition?
Built in 1966, the home will likely require updates and ongoing maintenance consistent with its age. The finished basement adds liveable space, but buyers should budget for modernizations to systems, finishes, or layout to suit contemporary tastes.

3. Who would this property NOT be a good fit for?
It may not suit buyers seeking a modern, low-maintenance home where the interior is the primary focus. The value here is disproportionately in the land, so those unwilling to manage a large yard or invest in potential home updates might find better value elsewhere.

4. How does the lot size impact property taxes and maintenance?
While offering great potential, a lot of this size typically results in higher municipal taxes and requires more time and resources for upkeep (lawn care, landscaping, snow clearing) compared to a standard lot.

5. The 2021 sale price and current assessment are close. What does this indicate?
This suggests the market has recently validated the property's value, with the price firmly reflecting the premium for the large lot. It indicates stable, land-value-driven pricing rather than speculative fluctuation.