This home at 616 Fairmont Road presents a compelling opportunity defined by space, potential, and location. Built in 1975, it is a two/one-storey home with 1,775 sqft of living space situated on an exceptionally large, half-acre lot of approximately 21,765 sqft. The property features an unfinished basement, offering room for customization. Its appeal lies in the rare combination of a generous urban land parcel with a solid, functional home. The lot size ranks in the top 1% for Winnipeg, providing unparalleled privacy and space for gardens, recreation, or future expansion. Recent market activity is positive, with a sale in June 2024 at $490,000, above its assessed value.
This property would suit buyers who value land over lavish finishes—those looking for a long-term family home with room to grow, DIY enthusiasts keen to finish the basement and personalize the space, or visionaries who see the ultimate value in the expansive lot itself. It’s a home for someone comfortable with a property that offers more raw potential than immediate turn-key perfection.
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What does the "unfinished basement" actually mean?
It's a blank canvas with full height and proper foundation, but it requires insulation, walls, flooring, and finishing to become livable space. This represents both a project and an opportunity to add significant value tailored to your needs.
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How does the lot size compare to a typical city property?
At nearly half an acre, this lot is exceptionally large for Winnipeg. It offers a level of outdoor privacy and space that is very difficult to find within the city, more akin to a rural property.
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The home was built in 1975. What should I be aware of?
While the core structure is solid, a home of this age will likely have original or older major systems (like roof, windows, HVAC). A thorough inspection is essential to understand the condition and plan for any updates.
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The recent sale price is above the assessed value. Is that a concern?
Not necessarily. It indicates strong buyer demand for this specific type of property (large lot) and suggests the market values it higher than the city's assessment for tax purposes, which can lag behind current trends.
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Who is the ideal buyer for this property?
The ideal buyer values space and potential over immediate move-in perfection. It's for someone who sees the unfinished basement and the vast yard not as drawbacks, but as the key assets that allow them to create a truly custom living environment over time.