Property Overview: 884 Fairmont Road
Key Characteristics, Appeal & Ideal Buyer
This is a well-maintained, one-storey home in Winnipeg's Eric Coy neighbourhood, built in 1956. Its primary appeal lies in its expansive, mature lot of approximately 11,757 sqft—a significant and rare asset that ranks within the top 4% of all properties in Winnipeg for size. The home features a finished basement and a detached garage. While the 720 sqft living area is modest, the property’s true value is in its land, offering immense potential for gardening, expansion, or future redevelopment.
The home suits two distinct types of buyers. First, it’s ideal for a pragmatic, value-oriented buyer who sees beyond the compact interior to the long-term potential of owning a large, established lot in the city. Second, it could appeal to downsizers seeking a manageable single-level layout without sacrificing outdoor space for hobbies or privacy. Its strong city-wide ranking for lot size contrasts with its very affordable price point, creating a unique opportunity where the land itself is the standout feature.
Frequently Asked Questions
1. How does the lot size compare to typical properties?
The lot is exceptionally large, bigger than 96% of all residential properties in Winnipeg. This is the home's most competitive and distinguishing characteristic.
2. Is the house in need of major updates?
Built in 1956, the home is 70 years old. Buyers should budget for updates consistent with its age. The finished basement adds immediate usable space.
3. Who would find the living space suitable?
The 720 sqft main floor layout is compact. It is best suited for individuals, couples, or those looking to downsize from a larger home while retaining a substantial yard.
4. How does the assessed value relate to the last sale price?
The current municipal assessment is $362,000, which is close to the 2021 sale price of $355,000. This suggests stable value in line with the market at that time.
5. What is the neighbourhood like for investment or family life?
Eric Coy is an established, mature neighbourhood. The property's rankings indicate it offers more land than most area homes, which can be a stabilizing factor for value. It represents a land-play in a settled community rather than a new subdivision.