874 Fairmont Road

Property Overview & Key Characteristics

This is a distinctive, well-established property on a truly exceptional lot. The home itself is a 1969-built, 1,265 sqft bungalow with a finished basement and an attached garage. Its standout feature is the expansive 21,810 sqft lot, which places it in the top 1% of all properties in Winnipeg for land size. This offers immense privacy and space rarely found within the city.

The appeal lies in the balance of a solid, functional home with unparalleled outdoor potential. While the house ranks solidly in the middle of the pack for its size and age within the neighborhood, the land is its crown jewel. It suits buyers who value space over sheer square footage—think gardeners, hobbyists, families wanting room to play, or those planning future additions. It's also a prime candidate for someone looking for a long-term hold with the option to potentially redevelop the land down the line, given its substantial size.

Frequently Asked Questions

1. Is the large lot mostly usable, or is it irregularly shaped?
While the listing confirms the total square footage, it's always wise to view the property in person or consult a survey to understand the exact layout, topography, and how much of the land is practically usable for your needs.

2. How does the age of the home (57 years) impact maintenance?
Built in 1969, prospective buyers should budget for updates common to homes of this era. A thorough inspection is key to understand the condition of major systems like plumbing, electrical, and the roof, which may be nearing or past their typical lifespan.

3. The assessment value is lower than the asking price. What does this mean?
The municipal assessment of $416,000 is for tax purposes and often lags behind the current market. The listing price is set by the seller based on recent comparable sales, perceived value (especially the lot), and market conditions. The assessment is a data point, not a direct indicator of market value.

4. What are the implications of the lot size for property taxes and utilities?
A larger lot can sometimes lead to slightly higher property taxes. Additionally, utilities like water for maintaining a large garden or lawn, and possibly higher heating/cooling costs for a detached garage, should be considered in ongoing ownership costs.

5. The home's interior size ranks average, but the lot is top-tier. How does this affect resale?
This creates a unique market position. Its value is heavily tied to the land, which will appeal to a specific buyer. It may not appreciate at the same rate as a newly renovated home on a standard lot, but the scarcity of such large parcels in the city provides a strong, fundamental value that is less susceptible to market fluctuations.