Property Overview: 595 Fairmont Road
This is a distinctive, century-old character home situated on an exceptionally large, half-acre lot in Winnipeg's Eric Coy neighborhood. Its appeal lies in the rare combination of generous indoor and outdoor space, historic charm, and significant potential for customization. The home suits buyers looking for a project—whether that means preserving a classic property, undertaking a renovation to modernize it, or simply enjoying vast private grounds within the city.
Key Characteristics & Ideal Buyer
The primary asset is the land: at over 21,000 square feet, the property offers a level of privacy and space that is increasingly uncommon in urban settings. The house itself is a one-and-a-half storey character home built in 1925, offering over 2,000 square feet of living space, which ranks well above average for the area. It features an unfinished basement and an attached garage.
The home’s rankings reveal a compelling narrative: while it is among the older homes in its community, it offers more living space than over 90% of Winnipeg homes and sits on a lot size that places it in the top 1% city-wide. This presents a clear value proposition centered on land and volume. The appeal is for a specific buyer: someone who values the solid bones and space of a historic home and sees the unfinished basement and the property’s age not as drawbacks, but as a blank canvas. It’s ideal for a hands-on individual, a growing family seeking room to play and expand, or a long-term investor who understands the intrinsic value of large lots in established neighborhoods.
Frequently Asked Questions
1. What does the "unfinished basement" entail?
It is a raw space that provides excellent storage or future development potential. Buyers should budget and plan for any finishing, including necessary insulation, flooring, and moisture control, common in homes of this era.
2. The home is 100 years old. What should I be aware of?
Prospective buyers must prioritize a thorough inspection. While the structure has stood for a century, key systems like plumbing, electrical, roofing, and the foundation should be carefully evaluated to understand any needed updates or repairs.
3. How can the large lot be utilized?
The half-acre lot is a major feature. Uses could include extensive gardening, adding recreational structures like a shed or play area, or simply enjoying expansive green space. It’s worth investigating any local bylaws regarding future additions or outbuildings.
4. The 2017 sale price was significantly lower than the current assessment. Why?
The 2017 price reflects the market conditions and the property's state at that time. The current assessed value accounts for market-wide appreciation and the home’s standout attributes—primarily its very large lot and above-average living space. It indicates the municipality's view of its value relative to others.
5. What is the neighborhood like, and what are the taxes?
Eric Coy is a mature, established community. For specifics on property taxes, which are not listed here, buyers should consult the City of Winnipeg’s tax calculator using the assessment value. It’s also recommended to visit at different times to get a feel for the area’s character and traffic.