Property Summary

Key Characteristics

This is a lower-valued home in Winnipeg, with an assessed value of $290,000—sitting well below the median for its street (Coventry Road), neighbourhood (Eric Coy), and the city as a whole. The main draw is the lot: 13,205 square feet, which places it in the top 3% citywide for land size. That’s an unusual combination. Most properties with lots this large carry a much higher assessment. The house itself is older, and the living area is modest relative to the land. The appeal here is not in the home’s current condition or finishings, but in the land’s potential—whether for redevelopment, expansion, or simply having a deep, private yard in a central neighbourhood. This property would suit a buyer who values space over move-in readiness: someone open to renovation, a builder or investor looking at a teardown or infill project, or a homeowner who wants a large lot without paying a premium for a fully updated house. It’s not for someone seeking a turnkey home in a high-value area.

Five Possible FAQs

1. Why is the assessed value so low for such a large lot?
   The low value reflects the combination of an older home (likely with less living space and dated systems) and the area’s overall price profile. A large lot by itself doesn’t drive up assessment as much as a newer, larger home does. In Eric Coy, the average home is $465k, so this property is an outlier on the low end—meaning the value is mostly in the dirt, not the structure.

2. Could this property be subdivided or redeveloped?
   Possibly, but you’d need to check local zoning and lot-split regulations. A 13,205 sq ft lot is often large enough to accommodate a secondary dwelling or severance in some Winnipeg zones, but it’s not guaranteed. The low house value makes it a more viable candidate for demolition and new construction than a property where the building still has significant value.

3. How does the home’s condition compare to others on the street?
   It’s in the bottom 1% for assessed value on Coventry Road, which strongly suggests it’s one of the oldest, smallest, or least updated homes on the street. This isn’t necessarily a bad thing if you’re planning work—but it means you’re likely buying into a street where most neighbours have higher-value homes, which can affect resale and neighbourhood dynamics.

4. What are the ongoing costs or risks with a property like this?
   An older home may need major systems replaced (roof, furnace, electrical, plumbing) sooner than a newer one. Property taxes will be low relative to area averages, but insurance could be higher if the home’s condition is poor. Also, a large lot means more yard maintenance. If you’re holding it as land for future development, there’s carrying cost with no immediate rental income.

5. Is this a good investment or more of a lifestyle choice?
   It leans toward the latter unless you have a clear plan to add value. The low purchase price relative to lot size offers upside if you can build or renovate effectively—but that requires capital and patience. As a simple resale play without improvements, the low ranking suggests limited appreciation potential compared to other properties in the same neighbourhood.