801 Coventry Road

Property Overview

This is a classic 1961-built bungalow situated on a remarkably large, nearly half-acre lot in the Eric Coy neighbourhood. The home itself offers 999 sqft of living space with an unfinished basement and a detached garage. Its standout feature is the land: at 19,807 sqft, the property size ranks in the top 1% of all homes in Winnipeg, offering exceptional outdoor potential. While the house ranks lower in relative size and modernity within its immediate area, the sheer scale of the parcel presents a unique value proposition. The appeal lies in the rare opportunity to own a substantial piece of land within the city, suited for a buyer with vision—whether that's for extensive gardening, future expansion, or simply enjoying expansive private outdoor space. It would particularly suit a hands-on buyer or developer looking for a property where the land is the primary asset, who is comfortable with a home that may require updates, and who values long-term potential over immediate move-in perfection.

Key Questions for Consideration

1. What is the true value proposition here? The data suggests the value is heavily weighted toward the land. Buyers should assess whether the price reflects the cost of a similar-sized lot plus the existing home, or if it offers a discount for the renovation opportunity.

2. Given the lot size, what are the possibilities for expansion or addition? A key question would be zoning regulations and the feasibility of adding to the existing bungalow or even building a new primary residence while potentially retaining the original structure.

3. How does the unfinished basement factor into future plans? While it requires investment to finish, it represents significant potential for adding affordable living space, a workshop, or storage, which is a valuable asset on a property of this scale.

4. What are the annual costs associated with a lot this size? Property taxes and maintenance (like lawn care or snow clearing) for a 19,807 sqft lot will be considerably higher than for a standard city plot, which should be factored into long-term budgeting.

5. Why is the home's assessed value ranking lower than its land size ranking? This discrepancy typically confirms that the current assessment reflects the older, modest-sized home more than the premium land value, which could be a point of discussion regarding municipal valuation and future tax implications.