Property Overview: 810 Fairmont Road
Key Characteristics, Appeal & Ideal Buyer
This is a well-established, single-storey home in Winnipeg's Eric Coy neighborhood, built in 1983. Its standout feature is the exceptionally large, half-acre lot (21,804 sqft), which places it in the top 1% of properties in Winnipeg for land size. The home itself offers a comfortable 1,758 sqft of living space with a finished basement and an attached garage. Recent assessment values have risen significantly, now at $580,000, placing it in the top 10-15% of homes in its immediate area and city-wide for assessed value.
The primary appeal lies in the rare combination of a spacious, modernized home on a massive, private lot within the city—a rarity that offers immense potential for gardening, recreation, or future expansion. Its strong rankings across size, value, and relative modernity for its age suggest a property that has been maintained well and sits above average in its peer group. This home would best suit buyers looking for long-term stability and space over flashy new builds: families desiring a huge backyard, downsizers seeking single-level living without sacrificing land, or value-conscious purchasers who see the enduring worth in a large, serviced urban lot.
Frequently Asked Questions
1. What is the true significance of the property rankings?
The rankings show this home consistently outperforms most comparable properties. For example, its lot size beats 99% of Winnipeg homes, and its assessed value is higher than 91% of them. This indicates a property that is statistically a standout in key metrics, not just subjectively appealing.
2. The house was built in 1983. What might that mean for a buyer?
Homes from this era often feature practical, robust construction and simpler floor plans that are easier to modernize than much older homes. While systems (roof, furnace, windows) may be due for updates, the 1983 build date is relatively "young" compared to many in its area, ranking in the top 20% on its street.
3. The assessed value ($580,000) is much higher than the 2016 sale price ($436,000). Is this a concern?
This increase reflects broad market appreciation over eight years and likely specific improvements to the property. The current assessment places it in the top tier of the local market, which is a positive indicator of its official valuation, but the final market price is determined by buyer competition.
4. Who would benefit most from the huge lot?
Beyond gardeners or those wanting privacy, the lot is a strategic asset. It could accommodate additions like a large workshop, a pool, or sport courts. It also represents a form of "land banking" within the city, as such large parcels are increasingly scarce and contribute significantly to the property's long-term value.
5. As a single-storey home, are there any less obvious advantages?
The one-level layout (bungalow) offers excellent accessibility and aging-in-place potential, reducing future renovation needs. It also often allows for a more efficient use of the finished basement space as a separable living or entertainment area, effectively doubling the functional living space.