Property Overview: 784 Fairmont Road
Key Characteristics & Appeal
This property is defined by its exceptionally large, half-acre lot (21,844 sqft), which places it in the top 1% of all residential properties in Winnipeg for land size. The home itself is a two-storey build from 1985, offering 1,524 sqft of living space with a finished basement and an attached garage. Its appeal lies in the rare combination of a substantial, private yard within the city—a canvas for gardening, recreation, or future expansion—coupled with a solid, move-in-ready family home. The data shows it ranks highly for lot size, assessed value, and age within its immediate neighborhood and the broader city, indicating a well-positioned asset.
It would suit buyers prioritizing outdoor space and long-term value over brand-new construction. This is an ideal fit for families seeking room to grow, hobbyists or gardeners craving space, or value-conscious purchasers who understand that land is a scarce commodity. A less obvious perspective is its appeal to those seeking a balance of community and privacy; the lot offers a retreat-like feel while still being part of an established neighborhood with strong relative rankings for home value and condition.
Frequently Asked Questions
1. What does the ranking data (e.g., "top 1% for lot size") actually mean?
The rankings compare this property directly to others on its street, in the Eric Coy neighborhood, and across all of Winnipeg. For example, being in the top 1% for lot size in Winnipeg means 99% of homes in the city sit on a smaller parcel of land.
2. Is a 1985-built home likely to need major updates?
While the home is nearly 40 years old, its rankings for age (newer than 68% of Winnipeg homes) and assessed value suggest it has been maintained competitively. Key systems like the roof, windows, or furnace may be at or nearing their typical lifespans, so a thorough inspection is advised.
3. How does the finished basement factor into the living space?
The 1,524 sqft listed is the above-grade living area. The finished basement provides additional flexible space (e.g., family room, office, or guest area) but is not typically included in the official square footage calculation for Canadian real estate.
4. What are the implications of such a large lot?
Beyond privacy and space, a lot of this size may offer future potential (like adding a structure, subject to bylaws). It also means higher maintenance (lawn care, landscaping) and potentially slightly higher property taxes relative to similar homes on standard lots.
5. Why is the assessed value important?
The city's assessment ($500,000) is used for calculating property taxes. That it ranks in the top 18% in Winnipeg indicates the city views this as a higher-value property, which generally correlates with market value but the final sale price is determined between buyer and seller.