Property Summary: 682 Fairmont Road
Key Characteristics & Appeal
This 1961-built, one-storey home in Eric Coy sits on a large, 7,308 sqft lot, offering significant outdoor space that is rare for the area. With 1,201 sqft of living space and a finished basement, it provides practical, single-level living. Its core appeal lies in its balance of a sizable, private yard with a modestly-sized, manageable house—a combination that can be hard to find. The property’s standout trait is its land value; the lot size ranks in the top 15% across Winnipeg, suggesting strong long-term potential for gardening, expansion, or future redevelopment.
The home would suit first-time buyers or downsizers seeking a low-maintenance footprint without sacrificing yard space. It’s also a practical candidate for investors or handy buyers looking for a property with solid "good bones" where value can be added over time through updates. A less obvious perspective is its positioning in the market: while the home itself is assessed at a more accessible level, the premium lot size provides a buffer against market fluctuations and represents the majority of the property's inherent value.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property to others on its street, in Eric Coy, and across Winnipeg. For example, its lot size ranks in the top 15% city-wide, meaning it's larger than 85% of Winnipeg lots. Conversely, its assessed value is higher than 39% of homes in Winnipeg, placing it in a more moderate value tier.
2. Is the finished basement included in the 1,201 sqft living area?
No, the 1,201 sqft refers to the above-ground living space. The finished basement is an additional area, adding functional space like extra bedrooms, a recreation room, or storage.
3. What are the implications of a 1961 build date?
Homes from this era often feature straightforward layouts and durable construction. Buyers should budget for age-related updates, such as roofing, windows, or mechanical systems, but may also find simpler renovation projects compared to older character homes.
4. There's no garage. What are the parking options?
The property listing does not specify a dedicated garage. Buyers should investigate the driveway capacity and on-street parking regulations to understand vehicle accommodation.
5. The assessment is higher than many nearby homes. Why?
The assessed value ($316,000) ranks highly for its immediate area because it reflects both the house and, significantly, the large lot. The municipal assessment likely attributes substantial value to the land itself, given its size and potential.