Property Summary: 121 Overwater Cove
Key Characteristics & Appeal
This is a well-established, two-storey family home in Elmhurst, built in 1988. Its primary appeal lies in its generous proportions and mature setting. With nearly 2,000 square feet of living space on a large, roughly 6,000 sqft lot, it offers substantial room for family life. The home includes a finished basement and an attached garage.
The property’s value is underscored by its strong relative rankings across Winnipeg, particularly in living space and assessed value, where it places within the top 15-20% of the Elmhurst community. This suggests a home that is larger and has a higher municipal valuation than most in its immediate area. Its age places it in a sweet spot for buyers who appreciate established neighbourhoods with mature landscaping but may be wary of much older, century-home maintenance.
It would suit a buyer looking for a move-in ready, spacious home without the premium of a new build. It’s ideal for a family seeking established community roots, a sizable yard, and the practical benefits of a finished basement and attached garage. A thoughtful perspective is that this home represents a balance: it offers more interior space than many local comparables, yet its lot size, while generous, is not the largest on the street, potentially offering a manageable outdoor space without excessive upkeep.
Frequently Asked Questions
1. What do the community ranking percentages mean?
They show how this property compares to others in Elmhurst. For example, ranking in the top 17% for living area means 83% of homes in the community are smaller, highlighting this home’s above-average size for the neighbourhood.
2. Is the basement a legal suite?
The listing states the basement is finished but does not specify it as a legal secondary suite. Buyers should verify its permitted use with the municipality if considering a rental income opportunity.
3. How does the 1988 build year affect the home?
Homes from this era often have modern foundations and wiring but may be due for updates to original components like windows, roofing, or major mechanical systems (furnace, water heater). A thorough inspection is advised.
4. The lot is large, but how is its shape and usability?
At nearly 6,000 sqft, the lot is a significant asset. Its specific shape, orientation, and any easements aren’t detailed here; viewing the property or a survey would determine its best use for gardening, play, or expansion.
5. Why is the assessed value ranking higher than the street ranking?
The home’s municipal assessment places it in the top 15% of Elmhurst, but only the top 68% on its specific street. This indicates Overwater Cove may have a mix of very high-value homes, making this property a relatively strong value within a desirable enclave.