703 Fairmont Road

Property Overview: 703 Fairmont Road, Winnipeg

Section 1: Key Characteristics & Appeal

This well-situated bungalow in Eric Coy offers a compelling blend of space, location, and value. Its key characteristic is the substantial, nearly 9,000 sqft lot, providing exceptional outdoor space that ranks highly within Winnipeg. The home itself is a practical one-storey layout with 1,298 sqft of living space and a finished basement, catering to single-level living or flexible space needs. A notable appeal lies in its strong value proposition; the property’s assessment ranks in the top quarter city-wide, suggesting a solid foundation relative to the broader market.

The property would suit first-time buyers or downsizers seeking a manageable bungalow on a large lot without a premium price tag. It also appeals to value-conscious buyers who prioritize land size and future potential over a newer build, as the home presents a classic opportunity to live in a mature neighbourhood while gradually updating the interior. A less obvious perspective is its appeal to those seeking stability; its rankings indicate it holds its own well within its immediate community and street, suggesting it’s a typical and established property for the area rather than an outlier.

Section 2: Frequently Asked Questions

1. What is the true significance of the property rankings provided?
The rankings show how this home compares to others in specific geographic circles. For instance, while its lot size is in the top 8% city-wide, its living space is more average locally. This helps identify where the property’s strengths (land) and trade-offs (home size/age) lie relative to alternatives.

2. How might the age of the home (built 1979) affect a buyer?
A home of this age likely has original or older major systems (roof, windows, furnace). While it presents a chance to customize updates, a thorough inspection is essential to budget for any imminent replacements or upgrades.

3. What are the benefits and considerations of such a large lot?
The lot is a major asset for gardening, recreation, or future expansion like a shed or deck. However, it also means greater responsibility for maintenance—lawn care, landscaping, and snow removal—which requires time or expense.

4. The assessment value is $459,000. How should I interpret this?
The assessed value is for municipal tax purposes and is not a market valuation. It indicates the city’s appraisal of the property’s worth relative to others, but the final sale price will be determined by current market conditions and buyer competition.

5. Who might this property not suit?
It may not suit buyers seeking a modern, move-in-ready home without any projects, or those who prefer a smaller, low-maintenance yard. It also may not fit buyers needing extensive above-grade square footage, as a significant portion of the living space is in the finished basement.