22 Yarmouth Cove

Property Summary: 22 Yarmouth Cove, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home in Elmhurst is defined by its substantial, private lot and spacious interior, offering a rare combination in the city. Its primary appeal lies in the generous 12,401 sqft property, which ranks within the top 3% of all Winnipeg lots for size. This provides exceptional outdoor space for gardening, recreation, and future expansion. The 2,203 sqft living area is also well above average, placing in the top 6% citywide, ensuring ample room for a growing family.

The home suits buyers looking for a long-term family home with significant land in a mature, established neighborhood. It’s ideal for those who value space and privacy over a brand-new build and are comfortable with a home from the 1980s that may require personal updates. The unspoiled basement presents a clear opportunity for future customization to add value and suit the buyer's specific needs. Its strong rankings within the Elmhurst community—particularly for lot and living space—suggest it is a standout property in a desirable area, appealing to someone seeking a premium lot with a solid, functional house to make their own over time.

Section 2: Frequently Asked Questions

1. What does the "unfinished basement" mean for me?
It means the lower level is a blank canvas with plumbing and electrical rough-ins likely in place. This is a cost-saving opportunity if you wish to finish it yourself, but you should budget and plan for that project separately from the purchase price.

2. The house is 40 years old. What should I be concerned about?
Key systems like the roof, windows, furnace, and major appliances may be near or past their typical lifespans. A thorough home inspection is essential to understand the condition and prioritize any necessary updates or replacements.

3. How significant is the lot size, really?
A lot of this size (over a quarter-acre) is uncommon in Winnipeg. It offers immense privacy, space for additions like a garage, workshop, or large deck, and a sense of openness rarely found without leaving the city.

4. The 2016 sale price was $510,000. Why is the assessed value now higher?
The current $567,000 assessment reflects the municipal valuation for tax purposes, influenced by general market increases and the home's standout attributes (lot size, living space) relative to the area. The final market value is determined by current buyer competition and condition.

5. The home ranks very high for lot size but lower for "newness." How do I weigh that?
This highlights the trade-off: you are purchasing a premium, irreplaceable asset (the land) with a structure that may require more ongoing maintenance or modernization. The value is in the property's long-term potential and space, not in a move-in-ready, contemporary finish.