Property Overview: 830 Fairmont Road
Key Characteristics & Appeal
This is a classic one-storey home in the Eric Coy neighbourhood, built in 1924 and situated on a notably large, approximately 9,600 sqft lot. Its key features include a partial basement (unfinished) and a detached garage. With 502 sqft of living space, this is a compact, no-frills property where the primary asset is clearly the land itself.
The appeal lies in its potential and location. The lot size is a significant advantage, ranking in the top 7% across Winnipeg, offering rare space for expansion, gardening, or outdoor enjoyment in the city. While the home is modest in size and condition, its assessed value suggests an entry point into a mature neighbourhood. This property would suit a practical buyer looking for a land-value play—perhaps a first-time investor, a hands-on individual willing to renovate or expand over time, or someone seeking a manageable footprint with ample outdoor space. It’s a canvas rather than a finished product, with its century-old charm balanced by the need for updates and modernization.
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 all of Winnipeg. For example, its lot size ranks better than 93% of Winnipeg properties (very high), while its building age and living area are among the oldest and smallest, respectively. This highlights the trade-off: a premier-sized lot with a home that requires investment.
2. Is the unfinished basement usable or just a crawl space?
The listing specifies a basement exists but is unfinished. This typically means it is a full or partial height space suitable for storage or future development, but it is in a rough, uninsulated state and not configured as living space.
3. What are the implications of a 1924 build year?
A home this age offers character but necessitates careful inspection. Buyers should budget for potential updates to foundational elements, wiring, plumbing, and insulation to meet modern standards, alongside any cosmetic renovations.
4. Who might this property NOT suit?
It is likely not a match for those seeking a move-in-ready home, requiring significant space immediately, or who prefer a low-maintenance property. The value here is in the long-term potential of the lot, not in immediate convenience.
5. How does the assessed value relate to the listing price?
The municipal assessment of $300,000 is for tax purposes and reflects a government valuation formula. The listing price may be set higher or lower based on current market conditions, the seller’s strategy, and the unique potential of the large lot, which may not be fully captured in the standard assessment.