Property Summary: 731 Fairmont Road
Section 1: Key Characteristics & Appeal
This well-situated bi-level home in Eric Coy offers a compelling blend of space, value, and established community living. Its primary appeal lies in its exceptionally large, nearly 10,000 sqft lot, which places it in the top 6% of all properties in Winnipeg for land size. This provides rare potential for gardening, recreation, or future expansion. The home itself features a practical layout with 1,144 sqft of living space and a finished basement, offering good functional space for a family.
The property’s standout characteristic is its strong value proposition. With a current assessed value significantly higher than its 2019 sale price, it suggests substantial equity growth. Its assessment ranks higher city-wide than its physical characteristics alone might indicate, pointing to the premium placed on its generous lot. This home would suit first-time buyers or growing families looking for an affordable entry into a mature neighborhood with room to grow outdoors. It’s also a smart option for value-focused buyers who prioritize land size over a newer build, understanding the long-term asset value of a large parcel in the city.
Section 2: Frequently Asked Questions
1. What does the "ranking" data mean?
The rankings compare this property against others on its street, in Eric Coy, and across all of Winnipeg. For example, ranking in the "top 6%" for lot size in Winnipeg means 94% of city properties have a smaller lot, highlighting a key advantage.
2. The house was built in 1973. What should I consider?
While the structure is over 50 years old, its rankings show it is newer than over half the homes in Winnipeg. Buyers should budget for expected maintenance and updates common to homes of this era, but also appreciate the established neighborhood and mature landscaping that comes with it.
3. Why is there no garage?
The absence of a garage is a trade-off for the vast lot size. The property offers ample space for adding a detached garage or workshop, subject to city bylaws, which is a significant opportunity not always available on standard lots.
4. How significant is the increase from the 2019 sale price to the current assessment?
The assessed value has risen considerably, reflecting market trends and the inherent value of the land. It’s important to note that assessed value is for taxation purposes; a professional market evaluation will determine its current sale value.
5. Who would this property NOT suit?
It may not suit buyers seeking a modern, turn-key home without projects, or those who prioritize a large, recently renovated interior square footage over expansive outdoor space. The bi-level design and era of the home also mean the layout and style are specific.