Property Overview: 106 Overwater Cove
This two-storey family home in Elmhurst presents a compelling blend of space, location, and established comfort. Built in 1993, it sits on a large, approximately 10,700 sqft lot, offering significant outdoor space that is increasingly rare. With 2,345 sqft of finished living space, including a developed basement, the interior provides ample room for family life and entertaining. The home’s standout appeal lies in its strong positional value: it ranks within the top tiers of the broader community and city for both lot size and living area, suggesting a property that feels private and spacious within a desirable neighborhood. Its attached garage and mature setting round out the practical offerings.
This property is ideally suited for buyers looking for a long-term family home who value generous indoor and outdoor space over a brand-new build. It would particularly appeal to those seeking an established neighborhood with a proven sense of community, and who may have the vision to update certain elements over time to personalize the space.
Key Questions & Considerations
1. How does the assessment value relate to the asking price?
The municipal assessment is noted at $484,000. It’s important to understand that this value is for tax purposes and can differ, sometimes significantly, from current market value. A comparative market analysis is essential to gauge the fair listing price.
2. The home is over 30 years old. What should I be mindful of?
While major systems may have been updated, a pre-purchase inspection is crucial to assess the condition of the roof, windows, HVAC, and plumbing. This age of home often balances solid construction with the potential for modernizing certain features.
3. What do the ranking percentages actually mean for me?
They indicate the property’s relative standing. For example, ranking in the top 5% in Winnipeg for living area means it is genuinely larger than most homes in the city. This is a strong data point for both livability and future resale, highlighting its scarcity value.
4. The lot is large, but what are the maintenance implications?
A 10,700 sqft lot offers wonderful space for gardens, play, or expansion, but also requires more time and resources for landscaping, lawn care, and seasonal upkeep compared to a standard lot.
5. Why is the street ranking for assessment value so different from the others?
The home ranks lower on its specific street for assessed value. This could indicate that other homes on Overwater Cove have higher assessments, possibly due to more recent renovations, additions, or differing architectural styles. It’s a useful prompt to closely compare the features and conditions of neighboring properties.