Property Overview
153 Overwater Cove is a well-established, single-family home in Elmhurst that offers a blend of space, mature setting, and solid value. Its key appeal lies in its generous 6,670 sqft lot and a practical, fully finished layout with nearly 1,900 sqft of living space. Built in 1987, the home is situated on a quiet cul-de-sac, providing a sense of privacy and tranquility. The fully finished basement and attached garage add to its functional, family-ready appeal.
This property is particularly well-suited for buyers seeking a established neighbourhood with larger lot sizes, or those looking to get more house and land for their budget compared to newer subdivisions. It’s an ideal match for growing families, anyone who values outdoor space for gardening or recreation, or downsizers who still want a single-level living space without sacrificing room for guests or hobbies. The home’s strong rankings—especially being larger than 88% of Winnipeg homes and on a lot that surpasses 80% of the city—highlight its standout characteristics in terms of space and relative value within the market.
Frequently Asked Questions
1. What does the "relative ranking" data mean?
The rankings compare this property against others on its street, in Elmhurst, and across all of Winnipeg for specific metrics like lot size, age, and assessed value. For example, being in the "top 20%" for lot size in Winnipeg means 80% of city homes sit on smaller lots, indicating a premium outdoor space.
2. Is the 1987 build date a concern?
While not a new build, the home is newer than 72% of Winnipeg's housing stock. Buyers should plan for a thorough inspection to assess the condition of major aging components like the roof, windows, and HVAC systems, which are typical for a home of this era.
3. How might the assessed value relate to the listing price?
The municipal assessment of $592,000 is a snapshot for tax purposes and often lags behind the current market. It does not dictate the sale price, but its high percentile ranking (top 8% in Winnipeg) suggests the city views it as a higher-value property, which can be a useful benchmark in negotiations.
4. What are the pros and cons of a one-storey layout?
The main advantage is single-level living, offering great accessibility and easy flow. The potential trade-off is that the footprint on a large lot may mean less yard space directly adjacent to the living areas compared to a two-storey home, and roof replacement costs can be higher relative to living space.
5. Who would benefit most from the large, fully finished basement?
Beyond extra living space, it provides excellent flexibility. It could serve as a separate entertainment zone, a private in-law suite or teen retreat, a dedicated home office, or simply ample storage—a significant asset for work-from-home households or multi-generational families.