705 Fairmont Road

Property Overview & Appeal

This 1940s one-and-a-half storey home in Eric Coy sits on a notably large, nearly 9,000 sqft lot, offering a rare blend of vintage character and significant outdoor space within the city. Its key appeal lies in this substantial land size, which ranks within the top 8% of all Winnipeg properties, presenting a major opportunity for gardening, expansion, or future redevelopment. The home itself is modestly sized at 1,074 sqft and features a finished basement, catering to essential living needs. While the house shows its age in competitive rankings for modernity and assessed value within its immediate area, its standout asset is the land. This property would perfectly suit a buyer with a vision—whether that’s a DIY enthusiast looking to gradually update a character home with a huge yard, an investor considering the long-term land value, or someone seeking an affordable entry into a mature neighbourhood with ample room to grow.

Frequently Asked Questions

1. How does the large lot impact property taxes?
While the lot size is a valuable asset, the current property taxes are based on the relatively low total assessed value of $319,000. This suggests taxes may be more manageable than for a newer home on a standard lot, but any future significant improvements would likely increase the assessment.

2. Is the finished basement a legal suite?
The listing states the basement is finished but does not specify it as a legal secondary suite. A buyer interested in rental income would need to investigate the current layout and permits with the city to determine if it could be legalized.

3. What does the "one-and-a-half storey" design mean?
This typically describes a home with a main floor and a second floor under sloping rooflines, often creating cozy bedrooms with character. It’s a classic Winnipeg design, but ceiling heights and room layouts on the upper level can vary.

4. The rankings show mixed results; how should I interpret them?
The rankings are relative comparisons. They confirm this is not a new or recently renovated property, as it ranks low for "newness" in its community. However, its exceptional ranking for lot size city-wide highlights its unique, underlying value proposition.

5. What are the implications of having no garage?
The lack of a garage means parking and storage will require creative solutions. The large lot does provide potential space to add a garage or shed in the future, subject to local zoning bylaws and permitting.