Property Summary: 15 Hidden Oaks Cove
Key Characteristics & Appeal
This is a spacious, well-established family home in the Assiniboia Downs neighbourhood, built in 2008. Its primary appeal lies in its generous, private lot of nearly 12,000 sqft—a rarity that places it in the top 4% of Winnipeg for land size. The home itself is a renovated one-storey bungalow with a pool, an attached garage, and a finished basement, offering a move-in-ready layout ideal for single-level living.
The property’s standout value is its significant equity position. With a recent sale price of $800k against a modest assessed value of $79.9k, it indicates substantial owner investment and a premium, updated property that transcends municipal valuation metrics. This home suits buyers looking for long-term family living with ample outdoor space, privacy, and recreational amenities like a pool. It would particularly appeal to those who value a large yard over a massive house footprint, and to buyers who understand that a low assessment in this context reflects historical value, not market price, which can be advantageous for certain financial calculations.
Frequently Asked Questions
1. Why is there such a large gap between the sold price and the assessed value?
The assessed value is for municipal tax purposes and is based on a mass appraisal system from a historical base year. The sold price reflects the current market value, driven by the home’s renovations, premium lot size, and amenities, indicating significant upgrades and investment by the owners.
2. How does the large lot size benefit me beyond just space?
Beyond privacy and room for activities or a pool, a lot in the top 4% city-wide offers long-term value. It provides flexibility for future expansions, like adding a deck, workshop, or garden, and is a finite asset that typically appreciates well in established neighbourhoods.
3. Is a one-storey home with this living area suitable for a family?
Yes, especially with a renovated basement. The nearly 2,000 sqft main floor provides ample daily living space, and the finished basement adds significant flexible square footage for recreation, guests, or a home office, effectively creating a two-level living environment.
4. The home ranks lower for "newness" in the area. Is it outdated?
Not at all. Built in 2008, it is a modern home. The ranking reflects that the immediate neighbourhood has some newer constructions. The key is that this home is past its initial settling phase and is situated on a mature, landscaped lot, while still being contemporary enough to have modern building standards and efficiency.
5. What does the "Top 2%" ranking for the sold price in Winnipeg mean?
It means this home sold for a price higher than 98% of other recorded home sales in the city. This underscores its premium market position, driven by its unique combination of lot size, renovations, and specific amenities like the pool, placing it among Winnipeg's most desirable properties.