763 Coventry Road

Property Overview

763 Coventry Road is a well-established, single-family home in Winnipeg's Eric Coy neighborhood. Built in 1981, it's a one-storey bungalow offering 1,393 sqft of living space with a finished basement. The property stands out for its exceptionally large, 13,203 sqft lot, providing ample outdoor space. It features an attached garage and recently sold for $480,000 in November 2024, close to its assessed value of $472,000.

The home's primary appeal lies in its balance of space, value, and established location. The vast lot is a rare find, offering significant potential for gardening, recreation, or future expansion. Its rankings indicate a strong position within Winnipeg overall, particularly for lot size (top 3%) and recent sale value (top 21%), suggesting a solid investment relative to the broader market. It suits buyers looking for a move-in-ready bungalow with a low-maintenance footprint but a premium-sized yard, ideal for families, downsizers seeking single-level living, or those who value generous outdoor space over a larger house.

A few less obvious points: While the home itself is middle-of-the-pack for size within its immediate area, the lot size is a commanding asset. The "dated but not old" 1981 build year means it likely has modern fundamentals but may benefit from cosmetic updates. Its strong city-wide rankings for value and lot size contrast with more average rankings in its own neighborhood, indicating it's a standout property on paper city-wide, but faces direct competition from similar homes in Eric Coy.

Frequently Asked Questions

1. How does the large lot impact utility costs and maintenance?
A lot of this size (over 13,000 sqft) means higher costs for lawn care, landscaping, and potentially watering. However, it also offers room for a large garden to offset some costs or for adding structures like a shed or workshop.

2. What does the "finished basement" entail?
The listing confirms a finished basement but does not specify the extent, quality, or if it includes legal egress windows. This is a key detail to verify, as it affects the usable living space and safety.

3. The home ranks highly city-wide but average in the neighborhood. What does this mean?
This suggests the property is very competitive compared to all of Winnipeg, especially for lot size. Within Eric Coy, it's more typical, meaning you're getting a good city-wide value but buying into an area where similar properties are common.

4. Given the 1981 build, what major systems might need attention?
While the roof, furnace, and major components may have been updated, a home of this age warrants a thorough inspection of these systems, as well as windows, insulation, and electrical panels, to anticipate near-future capital expenses.

5. Why did it sell close to the assessed value in a fluctuating market?
Selling near assessment often indicates a balanced, realistic market valuation. The recent sale price validates the city's assessment and suggests the property was priced appropriately without significant over- or under-bidding.