Property Overview: 786 Fairmont Road
Key Characteristics & Appeal
This is a distinctive, one-storey home in Winnipeg's Eric Coy neighbourhood, built in 1984. Its primary appeal lies in its exceptionally large, half-acre lot (21,844 sqft), which places it in the top 1% of all properties in Winnipeg for land size. The home itself offers 1,275 sqft of living space with a finished basement and a split garage. While the house's size is comfortably average for the area, the property's standout value is derived from its expansive grounds, which offer immense privacy and potential.
The home would suit buyers looking for a solid, move-in-ready bungalow with a rare amount of outdoor space. It’s ideal for those who value room to garden, entertain, or simply enjoy a generous yard, without being far from city amenities. The high assessment value ranking suggests it's seen as a premium property within its market. A thoughtful perspective is that this property offers a "blank canvas" outdoors; the house provides the necessities, but the true value and future enjoyment will be shaped by how the new owners utilize the exceptional lot—whether for recreation, expansion, or simply as a private retreat.
Frequently Asked Questions
1. What does the ranking data (e.g., "top 1% for land") actually mean?
The rankings compare this property against others in its immediate street, wider community, and all of Winnipeg. For example, being in the "top 1% for land" in Winnipeg means its lot size is larger than 99% of all residential properties in the city, highlighting its rarity.
2. Is the house too small for such a large lot?
Not necessarily. The home's size is consistent with many bungalows of its era and provides comfortable living space. The dynamic here is that you are purchasing primarily for the land. The house serves as a functional base, and the lot provides the unique value and long-term potential.
3. What are the implications of a 1984 build year?
Homes from this period typically feature modern wiring and insulation standards, but key components like the roof, windows, and major mechanical systems (furnace, water heater) may be nearing or due for replacement, which should be factored into planning.
4. Who is this property not well-suited for?
It may not suit buyers seeking a modern, low-maintenance lifestyle or a large, newly built interior. The appeal is for those who appreciate outdoor space and are willing to manage a larger property, or who see the potential in the existing home.
5. Why is the assessment value significantly higher than the average for its living area?
Municipal assessments consider multiple factors, including land value. The exceptionally high land value here, due to its size and location, drives the total assessment up, reflecting the premium market value placed on the parcel itself rather than just the square footage of the house.