Property Overview: 550 Fairmont Road
Key Characteristics, Appeal & Target Buyer
This is a distinctive, single-storey home in Winnipeg's Eric Coy neighbourhood, built in 1962. Its most defining feature is the exceptionally large, private lot of over 28,000 square feet—a rare find that places it in the top 1% of properties in Winnipeg for land size. The home itself offers 1,176 sqft of living space with a finished basement and a detached garage.
The primary appeal lies in the extraordinary outdoor potential. The lot provides immense privacy and space for gardens, recreation, or future expansion, offering a semi-rural feel within the city. Its strong ranking (top 5%) within the Eric Coy community for lot size underscores this unique advantage. While the house is of average size for the area, it presents a solid foundation. The property suits buyers who prioritize land over square footage—those seeking a quiet retreat, gardening enthusiasts, or someone looking for a long-term property with the option to renovate or build. It’s a compelling opportunity for a buyer whose vision extends beyond the current walls to the property's overall potential.
Frequently Asked Questions
1. What does the "ranking" data mean?
The rankings compare this property to others on its street, in Eric Coy, and across all of Winnipeg. For example, being in the "top 1%" for land size in Winnipeg means the lot is larger than 99% of all properties, highlighting its rarity and value.
2. Is the lot usable, or is it mostly wild?
While the listing doesn't specify the exact condition, a lot of this size (over half an acre) typically offers a mix of landscaped and natural areas. It provides significant flexibility for the buyer to shape it to their needs, from creating expansive lawns to maintaining wooded sections for privacy.
3. The house was built in 1962. What should I consider?
A home of this age may have original components, like windows, roofing, or mechanical systems, that could need updating or have been recently replaced. A thorough inspection is advised to understand the condition and plan for any modernizations, balancing the classic layout with contemporary efficiency.
4. Who is this property not ideally suited for?
It may not suit buyers seeking a large, modern, move-in-ready home with minimal upkeep. The appeal here is the land; the dwelling is functional but modest in size. It's best for those comfortable with potential updates and who value outdoor space more than interior grandeur.
5. How does the assessed value relate to the asking price?
The municipal assessment of $444,000 is a benchmark for property taxes and is often below market value. Its ranking (top 27% in Winnipeg) indicates it's assessed higher than most homes. The final sale price will be determined by current market demand for this unique, land-rich property.