Property Overview: 873 Fairmont Road
Section 1: Key Characteristics & Appeal
This property is defined by its exceptional land and solid, no-frills construction. Its primary appeal lies in the rare, half-acre lot (22,012 sqft), which places it in the top 1% of properties in Winnipeg for lot size. The home itself is a modest 1,054 sqft, one-storey bungalow from 1961 with a finished basement and a detached garage. Recent data shows it sold for $401,000 in August 2024, closely aligning with its municipal assessment.
The appeal is for a specific buyer: someone who values expansive outdoor space and long-term potential over immediate turn-key luxury. It perfectly suits a hands-on buyer looking for a private, generous yard for gardening, recreation, or future expansion in the established Eric Coy neighborhood. It’s also a pragmatic choice for those comfortable with a home of vintage character, where investment can be directed over time into modernizing the interior while already owning a truly competitive and sizable piece of land. The rankings highlight a key, less obvious perspective: while the house is average in size and age for the area, the lot is an outstanding outlier, offering a unique opportunity to own a property that is more land-rich than most of the city.
Section 2: Frequently Asked Questions
1. What does the ranking data actually tell me?
It shows how this property compares to others. Crucially, its lot size ranks in the 99th percentile city-wide, meaning it's larger than 99% of Winnipeg properties. This is its standout competitive feature, while the home's size and age are more typical for the area.
2. Is the house in move-in condition?
The listing notes a finished basement, but the home is a 1961 bungalow. Buyers should budget for updates consistent with a home of this era, such as potential cosmetic refreshes or system upgrades, to align with modern expectations.
3. Who is the ideal buyer for this property?
It's ideal for a buyer whose priority is land. This includes families wanting extensive play space, hobbyists or gardeners craving room for projects, or long-term thinkers who see the value in a large, established lot where the home itself can be improved over time.
4. Why did it sell for slightly above the assessed value?
The recent sale price of $401,000 versus the $391,000 assessment likely reflects strong market demand for properties with unique, desirable features—in this case, the exceptionally large lot—which can command a premium over standard municipal valuations.
5. What are the considerations with a detached garage?
A detached garage offers flexibility for use as a workshop or separate storage space. However, it means accessing your vehicle from the house requires going outside, which is a factor to consider during Winnipeg's winter months.