20 Olinyk Cove

Property Summary: 20 Olynyk Cove

Key Characteristics & Appeal

This 1990-built two-storey home in Elmhurst presents a compelling opportunity for buyers seeking space, established value, and a quiet location. Its primary appeal lies in its generous proportions: the 2,768 sqft living area ranks within the top 1% of homes in both the community and Winnipeg, offering ample room for a growing or multi-generational family. The property sits on a large 8,064 sqft lot and features a finished basement and an attached garage.

The home’s value proposition is underscored by its strong market position. With an assessed value of $746,000, it ranks in the top 10% of its street, top 1% of Elmhurst, and top 3% city-wide, indicating a well-regarded property in a desirable setting. While the build year is older, placing it in the newer half of Winnipeg’s housing stock, the appeal here is less about modern finishes and more about proven stability, established neighbourhood character, and significant interior space. This property would best suit buyers who prioritize square footage and lot size over a brand-new build, and who appreciate a home with a strong, long-term value foundation in a mature community.

Frequently Asked Questions

Q: How does the age of the home affect its appeal?
A: Built in 1990, the home is part of a mature neighbourhood with established landscaping and community character. While some systems may be due for updates, the age is reflected in the classic two-storey layout and larger lot size, offering a different value proposition than newer, often denser subdivisions.

Q: What do the ranking percentages actually mean for me?
A: They indicate the property’s competitive standing. For example, ranking in the top 1% for living space in Winnipeg means it is genuinely larger than 99% of homes, a rare find. The high rankings for assessed value suggest it is consistently viewed as a premium property relative to its surroundings.

Q: Is the finished basement included in the listed living area?
A: Typically, the 2,768 sqft figure refers to above-grade living space. The finished basement provides additional usable square footage that is not included in that official calculation, effectively adding more functional space to the home.

Q: The home ranks highly for value but lower for newness on its street. Is that a concern?
A: This specific contrast suggests that on its particular street, it is one of the older homes but is also assessed as the most valuable (top 10%). This can indicate a well-maintained or expanded property on a premium lot, where the land and overall utility outweigh the build date.

Q: What is the neighbourhood feel of Elmhurst?
A: Elmhurst is a established, family-oriented community in Winnipeg. With properties like this ranking highly within the area, it points to a neighbourhood with a mix of long-term residents and substantial homes, often associated with stability and access to mature amenities and schools.