Property Summary: 695 Fairmont Road
Key Characteristics & Appeal
This is a well-established, single-storey home in Winnipeg's Eric Coy neighbourhood, built in 1970. Its most defining feature is the expansive, nearly 9,000 sqft lot, which is significantly larger than most properties in the city and ranks in the top 8% for lot size across all of Winnipeg. The home itself is modest in size at 873 sqft, but includes a finished basement, adding functional living space. While it lacks a garage and pool, the property’s core appeal lies in its land value and established location.
The home would particularly suit first-time buyers or downsizers looking for a manageable single-level layout with a low-maintenance footprint, but who value generous outdoor space for gardening, recreation, or future expansion. It also presents a solid opportunity for value-focused buyers or investors who prioritize land potential over a large existing structure, understanding that the home's condition may reflect its age. A thoughtful perspective is that this property offers a balance of affordability within a mature community, where the land itself represents a substantial portion of the asset's value and future potential.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings show how this property compares to others in its immediate street, wider neighbourhood, and all of Winnipeg. For example, its lot size ranks better than 92% of all Winnipeg homes, indicating an unusually large yard. Conversely, its living area is smaller than most, ranking better than only 16% of city homes.
2. Is the finished basement included in the 873 sqft living area?
No, the 873 sqft refers to the above-ground living area of the one-storey house. The finished basement provides additional, separate space that is not typically counted in the official main floor square footage.
3. What are the implications of a 1970 build date?
While the home is well-established, buyers should budget for age-related updates. The rankings show it's newer than about half the homes in Winnipeg, but a specific inspection will be crucial to assess the condition of major systems like roof, wiring, and plumbing.
4. With no garage, what are the parking options?
The listing does not specify a driveway, but the large lot may have space for off-street parking. Verifying on-site parking arrangements and understanding any street parking regulations in the area would be an important step.
5. How does the assessed value relate to the asking price?
The city's assessed value for taxation purposes is $360,000. This is a starting point for municipal taxes, but the market-based asking price can be higher or lower depending on condition, market trends, and seller motivation. It’s a data point, not an appraisal.