Property Overview: 613 Fairmont Road
This well-established bungalow in Eric Coy presents a unique opportunity defined by its exceptional lot and solid foundation. Built in 1961, the home offers 1,045 sqft of living space with a finished basement and sits on a remarkably large, approximately half-acre (21,294 sqft) parcel. Its appeal lies not in modern luxury, but in space, privacy, and long-term potential. The property ranks in the top 1% in Winnipeg for lot size, offering a rare suburban feel within the city. It would particularly suit buyers looking for a spacious family home with room to grow, garden, or play; value-oriented purchasers comfortable with a home of this vintage that may require updates; and visionaries who see the underlying value in the land itself for future expansion or redevelopment.
Key Questions for Consideration
1. What is the true value proposition here?
The primary asset is the land. The lot size is exceptionally rare for Winnipeg, offering privacy and possibilities that are increasingly difficult to find. The house itself provides a liveable foundation, but the property's standout characteristic is its expansive outdoor space.
2. What should I expect from a 1961-built home?
While it has a finished basement, buyers should anticipate systems (like plumbing, electrical, and the roof) that are likely original or older, and layouts that reflect mid-century design. A thorough inspection is essential to understand the condition and any needed updates or maintenance.
3. Who is this home not ideally suited for?
It may not suit those seeking a modern, turn-key property without projects, or buyers who prioritize a home with recent high-end finishes. Its value is more in its space and potential than in contemporary convenience.
4. How do the rankings translate to real-world context?
The rankings show a compelling contrast: the property is in the 99th percentile for lot size city-wide, but the house itself is average or below average in size and assessed value for its immediate area. This underscores that you are primarily investing in the land within a mature, established neighbourhood.
5. What are the less obvious considerations?
The sheer size of the lot comes with responsibilities: higher maintenance (lawn care, landscaping) and potentially higher utility costs for a larger property. However, it also offers unique benefits like immense privacy, noise buffering from neighbours, and the potential for additions, a workshop, or extensive gardening that smaller lots cannot accommodate.