Property Overview
This single-storey home at 600 Fairmont Road presents a compelling opportunity defined by its exceptional lot and strong market performance. Its primary appeal lies in the expansive, half-acre property (23,213 sqft), which ranks in the top 1% for size across Winnipeg. The home itself is a modest 1,120 sqft bungalow from 1969, featuring a finished basement and a detached garage. Recent sales data shows significant and consistent appreciation, with the price rising from $320,000 in early 2020 to $570,000 in August 2024.
The property is ideally suited for buyers who prioritize land over living space. It’s a perfect fit for someone looking for ample outdoor room for gardens, pets, or future expansion in a well-established neighbourhood. The strong value growth also makes it a point of interest for buyers with an eye on long-term investment, willing to update the interior to match the premium lot it sits on.
Frequently Asked Questions
1. How does the lot size compare to typical properties?
The lot is exceptionally large at over half an acre, placing it in the 99th percentile for all of Winnipeg. This is the home's most defining and rare characteristic.
2. The house seems modest for the price. What's driving the value?
The recent sale price reflects the high value of the land itself and the property's strong trajectory of appreciation. Buyers are investing in the potential of the lot and the established, desirable Eric Coy neighbourhood.
3. What does the consistent price increase indicate?
The steady climb in sale price over the last four years, significantly outpacing average assessments, suggests strong market confidence in the location and the enduring value of large lots in this area.
4. Is the home in original condition?
Given its 1969 build date and the focus on land value in listings, the interior likely requires modernization to align with contemporary expectations, which is a typical consideration for homes of this vintage.
5. Who would this property not suit?
It may not be ideal for buyers seeking a large, move-in-ready living space without renovation plans. The appeal is geared toward those who value outdoor space and see potential in the existing structure.