Property Summary: 774 Fairmont Road
Section 1: Key Characteristics & Appeal
This property is defined by its exceptional land size and solid value within its established Eric Coy neighborhood. The primary appeal lies in its expansive, half-acre lot (21,799 sqft), which ranks in the top 1% for size across Winnipeg, offering rare potential for privacy, gardening, or future expansion. The home itself is a modest, single-story 1,320 sqft bungalow with a finished basement and an attached garage, built in 1969.
Its strongest suit is space and relative value. While the house is average in size and age for the area, the lot is a significant asset. The property’s assessed value ranks highly, suggesting it is viewed as a substantial asset compared to most of the city. It would perfectly suit buyers prioritizing land over a large or modern house—think families wanting a big backyard, hobbyists, or those looking for a long-term property where the land itself is the primary investment. It also appeals to value-conscious buyers seeking an established, quiet community, as it outperforms 86% of homes in its immediate neighborhood for overall property metrics.
Section 2: Frequently Asked Questions
1. What is the true draw of this property?
While the house is a comfortable bungalow, the standout feature is undoubtedly the land. The lot size is a rare find within the city, offering a level of space and privacy that is increasingly uncommon.
2. Is the house outdated?
Built in 1969, the home is of average age for the area. Its rankings suggest it is neither notably newer nor older than many neighbors. The presence of a finished basement adds liveable space, but viewers should be prepared for the potential need for updates consistent with its era.
3. How does the 2020 sale price relate to the current assessment?
The property last sold for $425,000 in March 2020. Its current assessed value of $498,000 reflects the strong market appreciation for well-sized properties in the years since, and indicates the city’s valuation of its substantial lot.
4. Who would this property not suit?
It may not suit buyers seeking a modern, move-in-ready home with contemporary layouts and finishes, or those who prefer a low-maintenance yard. The appeal here is grounded in space and potential, not turn-key luxury.
5. Are the rankings important?
Yes, they provide quick, data-driven context. For example, ranking in the top 1% for lot size in Winnipeg objectively highlights its most unique feature. Similarly, its high rankings for assessed value within the community and city suggest it is considered a premium asset relative to most properties.