Property Overview: 685 Fairmont Road, Winnipeg
Section 1: Key Characteristics & Appeal
This is a well-situated, classic 1951 bungalow in the Eric Coy neighbourhood, offering a rare combination of a very large, nearly 9,000 sqft lot and a fully finished basement. Its key appeal lies in its land value and potential. The 780 sqft main floor provides a manageable footprint for easy living or a foundation to build upon, while the expansive yard presents significant opportunity for gardening, expansion, or future development, subject to zoning.
The home’s standout characteristic is its competitive positioning within Winnipeg. It ranks in the top 8% of the city for lot size, meaning it offers more land than 92% of other properties—a considerable asset in today’s market. The 2020 sale price of $325,000 sits well below the current assessed value of $374,000, suggesting recognized growth potential.
This property would suit a practical buyer who values land over lavish square footage. It’s ideal for a first-time buyer looking for a solid starter home with a huge yard, an investor seeing long-term land value, or a hands-on owner willing to live in it while gradually updating the interior. Its one-storey layout also makes it a candidate for those considering future accessibility.
Section 2: Frequently Asked Questions
1. Is the house too small at 780 sqft?
While the main floor is compact, the fully finished basement effectively doubles the liveable space, making the home more practical than the square footage alone suggests. The trade-off is the exceptional outdoor space.
2. What does the lot size ranking really mean?
Being in the top 8% city-wide for lot size is a major advantage. It not only provides private outdoor space but can also be a key driver of future property value, often appreciating faster than the building itself.
3. Should the 75-year age be a concern?
The age is typical for the area and is reflected in the price. A thorough inspection is essential, but a home of this vintage often features solid construction and mature landscaping that newer homes lack.
4. Why is the assessed value higher than the last sale price?
The 2020 sale was three years ago. The higher current assessment likely reflects strong market appreciation in the area, particularly for properties with large lots, validating the investment made by the previous owners.
5. Who is the typical buyer in this neighbourhood?
Eric Coy attracts a mix of long-time residents, young families drawn by the lot sizes and quieter streets, and value-conscious buyers seeking entry into established communities without the premium of brand-new builds.