785 Fairmont Road

Property Summary: 785 Fairmont Road

Section 1: Overview & Appeal

This property is defined by its exceptionally large, private lot of over half an acre (22,014 sqft), a rare find within Winnipeg that places it in the top 1% of properties citywide for land size. The home itself is a modest, updated 1958 bungalow with 992 sqft of living space and a finished basement, offering functional living on a grand canvas. Its core appeal lies in the unparalleled potential of its land—for expansive gardens, recreation, future additions, or simply enjoying immense privacy in the city. While the house ranks average to below average for its size and age within the immediate area, the lot is its outstanding asset.

This home would perfectly suit a buyer whose priority is outdoor space over interior square footage. It’s ideal for gardeners, families seeking a safe, sprawling play area, or visionaries who see the long-term potential to customize or expand. It also represents a solid entry into the Eric Coy neighborhood with a manageable footprint and a municipal assessment that suggests room for value growth.

Section 2: Key Considerations & FAQs

1. Given the home's smaller size and older age, what is the property's true value driver?
   The value is overwhelmingly in the land. You are purchasing a premium lot; the house provides functional living quarters. Future market appreciation will likely be tied more to the scarcity of such large parcels than to the specifics of the existing structure.

2. What does the "finished basement" entail?
   The listing notes a finished basement, which adds usable living space to the 992 sqft main floor. Prospective buyers should verify the quality, ceiling height, and legal compliance of this finish during a viewing.

3. Are there any concerns with a 1958 build?
   As with any home of this age, the mechanical systems (plumbing, electrical, heating), roof, and insulation should be carefully inspected. Its older age is reflected in its neighborhood ranking (top 86%), so updates may be needed.

4. How does the $380K assessment compare to the likely asking price?
   The assessment is a municipal valuation for tax purposes, often below market value. Its ranking (top 40% in Winnipeg) suggests it's a moderately assessed property. The sale price will be determined by current market demand for such a unique lot.

5. Is the property suitable for a future tear-down and rebuild?
   While the large lot certainly has the space for it, any buyer considering this must first verify zoning bylaws with the city to understand permissible building size, setbacks, and any heritage or development restrictions that may apply.