Property Overview: 760 Fairmont Road, Winnipeg
Key Characteristics & Appeal
This is a classic, single-storey home on an exceptionally large, half-acre lot in the Eric Coy neighborhood. Built in 1970, the 1,350 sqft house features a full but unfinished basement and an attached garage. Its primary appeal lies not in the home itself, but in the immense potential of the land. The property ranks in the top 1% of Winnipeg for lot size, offering a rare canvas for expansion, gardening, or outdoor recreation that is increasingly hard to find within the city.
The house would suit two distinct types of buyers. First, it's ideal for a visionary owner-occupant who sees the value in the land and is prepared to update or expand the existing dwelling over time. Second, it presents a clear opportunity for developers or investors, given the lot's size and ranking, as a potential candidate for subdivision or redevelopment, subject to municipal approvals. It's a property where the value is fundamentally anchored in the dirt it sits on, making it a long-term asset as much as a home.
Frequently Asked Questions
1. What is the true draw of this property?
While the house is a functional living space, the overwhelming draw is the 25,432 sqft lot. Its size is a major rarity in Winnipeg, offering privacy, space, and future potential that far exceeds the initial impression from the home's specs.
2. Who would this property be best for?
It's best suited for buyers with plans for the land itself—whether that's extensive landscaping, adding a large addition, or exploring future development potential. It's less suited for someone seeking a completely move-in-ready, modern home without any projects.
3. How does the age and condition of the home factor in?
The 1970 build means buyers should budget for updates to major systems like roofing, plumbing, or windows. The unfinished basement is a blank slate but requires investment to become living space. The price should reflect this needed modernization.
4. What do the rankings actually mean?
The rankings show the property's standing relative to others. Crucially, it ranks in the 99th percentile for lot size in Winnipeg, but only average or below for the age of the home and assessed value on its street. This highlights the disconnect between the land asset and the current improvement on it.
5. Is the assessed value a reliable indicator of the sale price?
Not necessarily. The municipal assessment of $415,000 is a tax valuation formula. The market price will likely be influenced more by the premium for the massive lot size and the buyer's vision for its use, which could command a price above the assessed value.