Property Summary: 133 Overwater Cove
Key Characteristics & Appeal
This is a spacious, well-established two-storey home in Elmhurst, built in 1987. Its primary appeal lies in its generous proportions and mature setting. With over 2,250 sqft of living space on a large 7,159 sqft lot, it offers significant room for a growing family. The home features a finished basement and an attached garage.
The property's standout feature is its strong performance in key metrics compared to its peers. It ranks in the top tier for both size and assessed value within Winnipeg, suggesting a home that is objectively larger and more valuable than most in the city. Its 2022 sale price also placed it in the top 3% of all Winnipeg transactions at that time, indicating a history of high market appeal. While the home is nearly 40 years old, it ranks as newer than most houses in the Elmhurst community itself, hinting at a potentially more modern build within a mature neighbourhood.
This home would best suit buyers looking for established character and space over a brand-new build. It’s ideal for a family seeking a sizable yard and interior room in a quiet neighbourhood, who appreciate the stability and often larger lot sizes of older communities. The strong historical rankings suggest it’s a property for buyers who value a home with a track record of holding and increasing its relative market value.
Frequently Asked Questions
1. How does the home’s age affect its condition and potential costs?
Built in 1987, major components like the roof, windows, and HVAC system may be nearing or past their typical lifespans. A thorough inspection is crucial to budget for any necessary updates or repairs, which is common for homes of this vintage.
2. The lot is large, but what is the neighbourhood feel like?
Elmhurst is a mature neighbourhood. The large lot size offers privacy and space, but the area will have established landscaping and a settled community vibe, which differs from newer suburban developments.
3. Why is there a notable difference between the 2022 sale price and the current assessed value?
The 2022 sale price reflects the peak of a hot market. The current government assessment is for taxation purposes and often lags behind real-time market shifts. The actual list price will be determined by current market conditions.
4. What does the "finished basement" include?
The listing notes a finished basement, but specifics on the quality, layout, ceiling height, and whether it includes a legal secondary suite or additional bedrooms are not provided. This detail would require clarification.
5. The home ranks highly for size, but how is the layout and flow?
While the square footage is generous, the floor plan of a 1980s two-storey may have a different room configuration and flow compared to modern open-concept designs. Viewing the home in person is essential to see if the space meets your lifestyle needs.