Property Overview: 563 Fairmont Road
Key Characteristics & Appeal
This is a substantial, classic home on an exceptionally large lot in Winnipeg's Eric Coy neighborhood. Built in 1940, the two-storey house offers over 2,000 sqft of living space, placing it in the top tier for size both locally and city-wide. Its most defining feature is the land—a 20,582 sqft lot that ranks in the top 1% of all properties in Winnipeg for sheer size. This presents a rare opportunity for expansive gardens, recreational space, or future expansion.
The appeal lies in its potential and privacy. The home has an unfinished basement, offering a blank canvas for customization, and while it lacks a garage, the vast property provides ample room to add one. It suits buyers looking for a project or a long-term family home where outdoor space is a priority over turn-key finishes. The strong rankings for living area and lot size, contrasted with more modest rankings for assessed value, suggest you are paying primarily for the land and space, with room to increase the home's value through updates. It’s ideal for a hands-on buyer, a growing family needing room to play, or someone valuing a semi-rural feel within the city.
Frequently Asked Questions
1. What does the ranking data actually tell me?
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 lot size city-wide highlights its extraordinary land holding, while lower rankings for its build year confirm it's an older home that may require updates.
2. Is the unfinished basement a drawback or an opportunity?
It's a significant opportunity. While it requires investment to finish, it allows a new owner to customize the space to their exact needs—whether for a suite, recreation room, or additional bedrooms—without needing to undo previous work.
3. The assessed value is close to the 2021 sale price. What does that indicate?
This suggests the property's official valuation has remained relatively stable, which can be typical for unique properties where direct comparables are scarce. The market value will ultimately be determined by what a buyer is willing to pay for the rare combination of large home and massive lot.
4. With no garage, where is parking, and can one be built?
Parking would be via a driveway. Given the enormous lot size, adding a garage or substantial outbuilding is likely very feasible, subject to local zoning and permit approvals. This is a key project for a potential buyer to investigate.
5. Who would this property NOT suit?
It may not suit those seeking a modern, low-maintenance home ready for immediate move-in. The unfinished basement, older age (likely requiring some upkeep), and lack of a garage mean it demands a buyer with a vision, some DIY spirit, or a budget for renovations.