Property Overview: 61 Fermor Avenue

Key Characteristics & Appeal

This home presents a compelling mix of established neighborhood character and tangible value. Its primary appeal lies in its generous, above-average lot size of 5,174 sq ft, which ranks in the top 5% on its street. This offers significant outdoor space and potential not found in many newer properties. The house itself, built in 1924, is smaller (1,014 sq ft) and older than both city and local averages, suggesting a cozy, character-filled home that may appeal to those wanting a manageable footprint. With an assessed value notably below area averages, it represents an accessible entry point into the Varennes neighborhood.

This property would suit a practical, value-oriented buyer—perhaps a first-time homeowner, downsizer, or investor—who prioritizes land size and location over a large or modern interior. It’s for someone who sees potential in an older home and values having a larger private yard compared to neighbors, possibly for gardening, expansion, or simply extra privacy. The data suggests you’re buying into a street and neighborhood where the home’s size and age are fairly typical, offering community consistency rather than standing out.

Frequently Asked Questions

1. Is the older build year a concern?
The 1924 build date means the home will likely require more ongoing maintenance and updates compared to a newer build. Prospective buyers should prioritize a thorough inspection focusing on foundational integrity, wiring, plumbing, and insulation to understand any needed investments.

2. How does the assessed value relate to the likely selling price?
The assessed value of $282k is for municipal tax purposes and is a lagging indicator. It’s significantly below both the street and neighborhood averages, which can indicate a pricing opportunity, but the final sale price will be determined by market conditions, the home’s interior condition, and buyer demand.

3. What are the advantages of a larger lot on an older street?
A lot size ranking this high on the street offers rare potential. It provides more outdoor space, better privacy, and increased natural light than neighboring properties. It could also allow for future additions, a garage, or landscaping projects that aren't possible on standard-sized lots.

4. The living area is below the city average. Will it feel too small?
At 1,014 sq ft, the living space is compact by Winnipeg standards but is actually quite typical for its immediate neighborhood and street. It suits a household comfortable with efficient use of space and may feature a practical, traditional layout common to its era.

5. What does the neighborhood data tell me about this location?
The rankings show this home is very average within its own neighborhood (Varennes) for size, value, and age. This suggests stability and consistency—you’re not buying an outlier. The area offers established community character without the premium price tag of some citywide averages.