Property Overview: 561 Fairmont Road
Key Characteristics & Appeal
This is a well-established bi-level home in Winnipeg's Eric Coy neighbourhood, built in 1983. Its most defining feature is the exceptionally large, approximately 17,743 sqft lot, which places it in the top 2% of all properties in Winnipeg for land size. The home itself offers 1,137 sqft of living space with a finished basement and an attached garage. Recent assessment values are strong, ranking in the top 21% city-wide.
The primary appeal lies in the rare combination of a very large, private yard within the city—a blank canvas for gardening, recreation, or future expansion—coupled with a solid, move-in-ready house. Its value proposition is grounded more in land potential and established community than in modern square footage. This property would suit buyers looking for space and privacy without moving to a rural area, such as growing families, those who enjoy gardening or outdoor entertaining, or long-term investors who recognize the inherent value of a large urban lot. A thoughtful perspective is that while the home's interior size is modest relative to the land, this presents an opportunity: the value is anchored in the irreplaceable lot, with the house offering functional living space until future renovations or redevelopment might be considered.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Eric Coy, and across all of Winnipeg for specific metrics. For example, being in the "top 2%" for land size means 98% of Winnipeg properties have a smaller lot. It's a quick way to see where this home excels or is more average in direct comparison.
2. Is the large lot a maintenance burden?
It can be, but it also offers flexibility. While a standard-sized lawn requires regular mowing, the significant extra space could be managed creatively—through naturalization of certain areas, creating low-maintenance garden beds, or even subdivision potential in the long term, subject to zoning.
3. Who is the typical buyer in this area?
Eric Coy attracts a mix of long-time residents and families drawn to its mature community feel. Given this property's profile, it would likely appeal to those prioritizing outdoor space and established neighbourhoods over a brand-new home.
4. What are the implications of the "bi-level" design?
Bi-levels typically feature split entryways with living areas on one level and sleeping areas on another. This offers good separation of space. Buyers should note that the listed living area includes the finished basement, which is common for this style.
5. How does the assessment value relate to the asking price?
The assessed value ($479,000) is for municipal tax purposes and is based on mass appraisal techniques from a prior date. It's a useful benchmark for understanding the city's valuation relative to others, but the final sale price is determined by the current market.