Property Overview: 767 Fairmont Road
Key Characteristics & Appeal
This is a well-established, single-storey home in the Eric Coy neighbourhood, built in 1977. Its primary appeal lies in its generous, mature lot of nearly 9,000 sqft—a rarity that offers significant outdoor space and potential. The home itself features a practical 1,414 sqft layout with a finished basement, catering to a need for flexible living areas. A split garage adds functional storage or workshop space.
The property’s strength is underscored by its value positioning. It ranks highly across Winnipeg for its lot size (top 8%) and assessed value (top 20%), suggesting it is a substantial property relative to the broader market. It suits buyers looking for a solid, no-frills family home with room to grow, garden, or entertain outdoors. It’s particularly fitting for those who value space over newness, and who see potential in a home that has been well-maintained for nearly 50 years. A thoughtful perspective is that this home represents a "land-value play" in a quiet neighbourhood; the underlying property is a key asset that may appreciate independently of the structure.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Eric Coy, and across all of Winnipeg. For example, being in the top 8% for lot size in Winnipeg means 92% of homes have a smaller lot, highlighting a key advantage of this property.
2. Is the finished basement included in the 1,414 sqft living area?
Typically, the listed living area (sqft) refers to above-ground, finished space. The finished basement is an additional area, adding to the home’s usable square footage.
3. The home is almost 50 years old. What should I consider?
While the home has been maintained, its age means systems like roofing, plumbing, and wiring may be original or older. A thorough inspection is advised to understand the condition and any upcoming maintenance.
4. How does the assessed value relate to the listing price?
The assessed value ($483,000) is for municipal tax purposes and is not a market price. However, ranking higher than 80% of Winnipeg homes for assessed value indicates the city views it as a substantial property, which often correlates with market value.
5. What are the advantages of a split garage?
A split garage typically means two separate single-width garage doors. This layout can offer more flexible use than one large double door, such as dedicating one bay to a workshop or providing separate access for different vehicles.