Property Summary: 10 Yarmouth Cove, Winnipeg
Section 1: Key Characteristics & Appeal
This is a substantial, well-established family home in the Elmhurst neighbourhood, built in 1985. Its primary appeal lies in its generous scale and premium lot size. With nearly 2,400 sqft of living space, a fully finished basement, an in-ground pool, and a large 12,398 sqft property, it offers significant room for both living and recreation. The home's competitive strength is clearly reflected in its market performance, having recently sold for a price significantly above its municipal assessment, indicating strong buyer demand.
The property ranks exceptionally well within its community and the wider city, placing in the top 3-6% for lot size, living area, and assessed value in Elmhurst. This suggests it is a standout property in a desirable area. It would best suit buyers looking for a long-term family home with established gardens and mature landscaping, who value space and privacy over a brand-new build. The pool adds a resort-like amenity but also implies a buyer ready for the associated maintenance and enjoyment of outdoor living. It's a home for those appreciating solidity and room to grow, in a neighbourhood where the property itself is a key asset.
Section 2: Frequently Asked Questions
1. How does the recent sale price compare to the home's assessed value?
The property sold for $875,000 in October 2024, which is approximately $119,000 above its municipal assessment of $756,000. This premium suggests strong buyer competition and perceived value beyond the official tax valuation.
2. What do the ranking percentages mean for this home?
The rankings compare this property to others on its street, in Elmhurst, and across all of Winnipeg. For example, ranking in the "top 3%" for living area in Winnipeg means 97% of homes in the city are smaller. These consistently high rankings confirm it is a larger, more valuable property relative to most.
3. Is the pool a major factor in the property's value?
While the pool is a notable luxury feature that contributes to the lifestyle appeal and likely played a role in the sale price, the home's core value is driven by its large lot size, above-average square footage, and its standing within a sought-after neighbourhood.
4. What should I consider about a home built in 1985?
A home of this age is likely to have seen updates, but a prospective buyer should prioritize a thorough inspection of major systems (roof, HVAC, plumbing, electrical) and the building envelope. The upside is well-established neighbourhoods and mature, private landscaping.
5. How does the lot size impact this property?
At over 12,000 sqft, the lot is a significant asset, offering privacy, space for the pool, and ample backyard potential. It also places the home in a very exclusive category, as fewer than 3% of Winnipeg properties are larger. This size contributes to both the value and the ongoing maintenance (lawn care, snow clearing) responsibilities.