Property Overview & Key Characteristics
122 Overwater Cove is a well-established, single-storey home in Elmhurst, built in 1989. Its primary appeal lies in its generous, mature lot of over 7,300 square feet and its strong relative standing within the wider Winnipeg market. The home features a finished basement and an attached garage. While its interior living space is modest for the area, the property excels in its land size and overall value proposition, ranking in the top tiers for lot size and age compared to the entire city. It suits buyers looking for a solid, no-frills family home in a quiet neighbourhood, with room to grow outdoors, and who prioritize lot size and established communities over brand-new construction or the largest interior square footage. A thoughtful perspective is that this property represents a "blank canvas" opportunity—the large lot and good structural ranking offer potential for future expansion or landscaping projects that a smaller, newer lot might not permit.
Frequently Asked Questions
1. How does the property rank compared to others?
It ranks highly for its lot size (top 14% in Winnipeg) and age (top 26% in Winnipeg), meaning it's on a larger and relatively newer plot than most city homes. Interior space and assessed value rankings are above average city-wide but more moderate within its immediate street and community.
2. What does the "finished basement" include?
The listing confirms a finished basement but does not specify the details. This would be a key point to clarify with the seller or listing agent regarding rooms, ceiling height, and finish quality.
3. Is the large lot a maintenance concern?
The 7,332 sqft lot offers great space but requires more upkeep for lawn care and gardening than a standard lot. It's ideal for those who enjoy outdoor living or gardening, but prospective buyers should factor in the time or cost for maintenance.
4. Who would this home suit best?
It's an excellent fit for families or downsizers seeking a single-level layout in a mature neighbourhood, where the value is in the land and location rather than a recently renovated interior. It's also a potential match for buyers with long-term plans to renovate or expand, given the solid lot and footprint.
5. Why is the assessed value ranking on its street so low?
The home's assessed value is in the top 21% city-wide, but ranks lower (97th percentile) on its specific street. This suggests Overwater Cove may have a mix of larger, higher-value homes, making this property one of the more accessible entry points into the street.