648 Fairmont Road

Property Overview: 648 Fairmont Road

This bi-level home in Eric Coy offers a compelling combination of space, value, and established community living. Its primary appeal lies in its exceptionally large, approximately half-acre lot (21,768 sqft), which ranks in the top 1% for size across Winnipeg. The home itself, built in 1985, features a finished basement and attached garage, providing practical living space. The data suggests a property that is consistently above average for its area, particularly in lot size, assessed value, and relative newness for the neighborhood. It would best suit buyers prioritizing generous outdoor space for gardening, recreation, or future expansion over a large interior footprint. It's also a strong match for value-conscious purchasers seeking a home with proven equity growth in a mature neighborhood, as evidenced by its significant appreciation from its 2019 sale price to its current assessment.

Key Considerations & FAQs

1. What does the ranking data actually mean?
   The percentile rankings show how this property compares to others. For example, being in the "top 1%" for lot size in Winnipeg means 99% of city properties have a smaller lot. Its high rankings for assessed value (top 10% in Winnipeg) indicate it is viewed as a premium property relative to the market.

2. Is a 1985 bi-level outdated?
   While 41 years old, the home ranks as newer than 80% of properties in its immediate community, suggesting it is among the more modern homes in the area. The finished basement adds usable living space. Buyers should still budget for updates consistent with its age, such as windows, roofing, or interior fixtures.

3. Who would benefit most from the huge lot?
   Beyond gardeners or those seeking privacy, the lot presents a rare opportunity in the city for potential future additions like a large workshop, substantial deck, or even a secondary dwelling (subject to zoning approval). It also offers a major advantage for families wanting ample safe play space directly at home.

4. How does the 2019 sale price relate to today's value?
   The property sold for $445,000 in early 2019 and now has an assessed value of $561,000. This indicates strong market appreciation over a 5-year period. It provides a tangible benchmark for the property's recent financial performance and current market positioning.

5. What are the trade-offs for such a large lot?
   The land is the standout feature. The living area (1,402 sqft) is above average but not exceptional. Buyers should ensure the home's layout and condition meet their needs, as the value proposition is heavily weighted toward the land asset. Maintenance of a half-acre property also requires more time or investment than a standard city lot.