Property Summary: 735 Fairmont Road, Winnipeg
Key Characteristics & Appeal
This is a classic 1932 one-storey home in the Eric Coy neighbourhood, presenting a unique opportunity centred on land and potential. Its primary appeal lies in its exceptionally large, nearly 10,000 sqft lot, which ranks in the top 6% of all properties in Winnipeg for size. This offers rare scope for expansion, gardening, or outdoor living within the city. The house itself is modest at 790 sqft with an unfinished basement, indicating it is best suited as a starter home, a renovation project, or a long-term land investment. Its recent 2021 sale price aligns closely with the current assessed value, suggesting a stable market entry point.
The property suits two distinct buyer types: first, the practical visionary who sees the value in the land and is prepared to live in or update a compact, character home while planning for the future. Second, it appeals to the value-driven buyer seeking an affordable entry into a mature neighbourhood, who prioritizes yard space over finished square footage and is comfortable with a property that offers more potential than immediate polish.
Frequently Asked Questions
1. What does the lot size ranking actually mean?
The ranking indicates that this property's lot is larger than 94% of all residential lots in Winnipeg, making it a truly oversized urban parcel. This is its most standout feature.
2. Is the house in livable condition?
While the basic structure is present, the rankings show it is among the older and smaller homes in the area. Buyers should budget for updates and anticipate a project, as the basement is unfinished and the living space is compact.
3. Why is the assessed value so close to the 2021 sale price?
This typically indicates the market has seen stable values for this specific property type in recent years. It suggests the price is grounded in recent market activity rather than speculative estimation.
4. What are the implications of the low rankings for living area and age?
These confirm the house itself is not the primary asset. The appeal is squarely focused on the land. Comparisons on living space or modern features will be unfavourable, as you are purchasing for the property's potential, not its current finished state.
5. Is there potential for adding on or rebuilding?
The lot size certainly allows for it. Any buyer interested in expansion or future redevelopment should consult the City of Winnipeg's zoning bylaws and development plans to understand the specific possibilities and restrictions for this parcel.