Property Overview & Key Characteristics
This one-storey home on Fairmont Road presents a distinctive opportunity centered on its exceptional land. Situated on a sprawling 20,230 sqft lot, the property ranks in the top 1% for lot size across Winnipeg, offering a rare level of space and privacy within the city. The house itself is a 1,111 sqft character home built in 1930, featuring an unfinished basement and a detached garage. Its appeal lies in the significant potential of the large, blank-canvas lot, which could suit everything from extensive gardens to future expansion or redevelopment, subject to approvals.
The property would best suit a buyer with a vision for the land or a willingness to renovate. It’s a compelling prospect for someone seeking a project, whether that’s creating a private urban oasis, investing in a future build, or gradually updating a character home. The recent 2023 sale suggests it may appeal to investors or renovators. It’s less suited for those seeking a modern, turn-key home without renovation plans.
Frequently Asked Questions
1. What does the lot size ranking actually mean?
Being in the top 1% for lot size in Winnipeg means this property’s land area is larger than 99% of other residential properties in the city. This is its most standout feature, offering unusual space.
2. The house is older and smaller than average for the area. Is that a concern?
The rankings show the home is older and has less living space than most in its immediate neighborhood and street. This is reflected in its assessed and recent sale price. The value proposition here is the land, not the current state of the dwelling.
3. Are there any obvious red flags from the data?
The property’s assessed value and recent sale price rank very low (in the bottom third) compared to both Winnipeg and its own community. This typically indicates the current improvements (the house) are valued modestly, which is consistent with an older, unrenovated home on a highly valuable piece of land.
4. What are the less obvious opportunities here?
Beyond a simple renovation, the large lot could allow for legal subdivision (subject to city zoning), adding an accessory building, or creating significant outdoor living and recreational space rarely found in the city.
5. How should I interpret the recent 2023 sale?
A sale just over a year ago suggests a relatively quick turnaround. It could indicate a previous investor’s flip, an estate sale, or a change in plans by the owner. It’s important to understand what, if any, work was done during that ownership.