699 Fairmont Road

Property Overview

This 1969 one-storey home on a large, nearly 9,000 sqft lot in Eric Coy presents a solid opportunity for a specific type of buyer. Its key appeal lies in its generous land size, which ranks in the top 8% of all Winnipeg properties, offering exceptional outdoor space and future potential. The home itself is modest at 1,176 sqft but includes a finished basement. While the house ranks around the middle for its size and age within its immediate area, its standout feature is the lot, which is substantially larger than most in the city.

This property would suit a buyer who values space and location over a modern or recently updated home. It's ideal for someone with a vision for renovations or an addition, where the land is the primary asset, or for those seeking a manageable single-level layout with ample yard space for gardening, children, or pets. It may also appeal to an investor seeing the long-term value in a large lot in a well-established neighborhood.

Key Questions for Consideration

1. What does the "ranking" data actually tell me?
The rankings compare this property to others on its street, in Eric Coy, and across all Winnipeg. They confirm the lot size is a major advantage city-wide. However, the home's assessed value and living area are more average for its local community, suggesting the interior may need updates compared to some neighbors.

2. The house was last sold in 2016 for $290,000, but is now assessed at $387,000. Is this realistic?
The assessment reflects the municipal government's valuation for tax purposes, which considers market trends. The significant increase since 2016 aligns with broader market appreciation, but the final sale price will be determined by current market conditions, the home's condition, and buyer demand.

3. What are the pros and cons of a 1969 build?
Homes from this era often feature solid construction and simple, functional layouts. However, a buyer should proactively investigate the age and condition of major systems like roofing, plumbing, electrical, and insulation, as updates may be needed or forthcoming.

4. How does the finished basement add value?
It effectively increases the usable living space beyond the 1,176 sqft main floor, which is a significant benefit. It's important to understand the quality of the finish, ceiling height, moisture control, and whether it includes a proper egress window for safety and legality.

5. Who might this property not suit?
It may not be the best fit for someone seeking a move-in-ready home with modern finishes and no immediate projects. Buyers looking for a premium interior or whose priority is a home that ranks highly in size and newness within its immediate neighborhood might find better options.