Property Overview: 551 Fairmont Road, Winnipeg
Key Characteristics & Appeal
This is a spacious, well-established bungalow in the Eric Coy neighbourhood, built in 2004. Its primary appeal lies in offering substantial space both inside and out, combined with strong market standing. The home features over 2,100 sqft of finished living space, a fully finished basement, and sits on a large, private lot of approximately 13,200 sqft—a rarity that provides ample room for gardens, recreation, or future additions. The property consistently ranks in the top tiers of its local market for lot size, living area, and assessed value, indicating it's a premium offering within its area.
The home would best suit buyers looking for single-level living in a mature setting without sacrificing interior space, such as growing families or those planning for long-term accessibility. It also appeals to value-conscious purchasers who prioritize land size—a non-replicable asset—and appreciate a home with a proven, strong valuation history. A less obvious perspective is its potential for buyers who value privacy and outdoor space over a brand-new build; the 22-year-old home is settled in a landscaped lot, offering an established, tranquil environment that newer subdivisions often can't match.
Frequently Asked Questions
1. What is the significance of the property's high rankings?
The rankings show how this home compares to others in its immediate area and across Winnipeg. For key metrics like lot size and assessed value, it ranks in the 97th-98th percentile locally, meaning it is objectively among the largest and most highly valued properties in the community, which speaks to its enduring appeal and investment stature.
2. The home was last sold in 2017. What does that history suggest?
The 2017 sale indicates a period of stable, long-term ownership, which often means the home has been well-maintained and any significant upgrades are likely settled. The substantial increase in assessed value since that time also reflects strong market appreciation for the property and area.
3. Who might this property not be ideal for?
It may not suit buyers seeking a modern, open-concept layout typical of newer builds, or those who prefer a low-maintenance yard. The large lot, while a major asset, requires more upkeep. Additionally, buyers with a strict budget near the assessed value should be prepared for potential competitive interest given its high rankings.
4. How does the "one storey" design impact living?
The bungalow style offers the convenience and accessibility of having all primary living areas on one level, which is a significant long-term advantage. The finished basement effectively doubles the liveable space, providing excellent areas for recreation, guests, or hobbies separate from the main floor.
5. The lot is large, but how private is it?
While street views don't show specific fencing, a lot of this size (over a quarter-acre) inherently provides more distance from neighbours than standard suburban lots. The positioning and any existing mature plantings would be key to confirming the level of privacy, which is a major feature to verify during a viewing.