Property Overview
532 Fairmont Road is a well-established, single-storey home in Winnipeg's Eric Coy neighbourhood. Built in 1965, its primary appeal lies in its exceptionally large, private lot of over 15,800 sqft—a rare find within the city that offers immense potential for gardening, recreation, or future expansion. The home itself features 1,145 sqft of living space with a finished basement and a detached garage.
This property suits buyers looking for a solid, no-frills home where the land is the main asset. It’s ideal for those who value outdoor space and privacy over a modern, turn-key interior, and who have the vision to update a home over time. Its competitive rankings, particularly being in the top 2% of Winnipeg for lot size, highlight its unique offering. A thoughtful perspective is that while the home's metrics (age, living space) are average for its immediate area, the lot size is a standout feature that provides long-term value and flexibility that newer subdivisions simply cannot match.
Frequently Asked Questions
1. What is the true value of such a large lot?
Beyond privacy and space, a lot of this size is a strategic asset. It provides options for significant landscaping, adding a workshop or shed, or even future development (subject to zoning). It's a hedge against the increasing density of newer neighbourhoods.
2. How should I interpret the property rankings?
The rankings compare this home to others in the street, community, and city. Key takeaways are that its lot size is its superpower (top 2% in Winnipeg), while the home itself is typical for its older, established neighbourhood. This suggests you're buying the land with a liveable house on it.
3. What does the assessment value indicate?
The municipal assessment is for taxation purposes and is often conservative. It provides a baseline, but the market value will be influenced by the high demand for large lots and the home's updated, liveable condition.
4. Is the age of the home (1965) a concern?
Homes from this era are common in the area and are typically solidly built. The consideration is less about age and more about the condition and maintenance of major systems like roof, wiring, and plumbing, which a thorough inspection will address.
5. Who would this property not suit?
It may not suit buyers seeking a modern, low-maintenance home or those unwilling to consider updates over time. The appeal is grounded in the land and potential, not in a contemporary, move-in-ready aesthetic.