Property Overview
This 1985 bi-level home at 3 Island Cove in Winnipeg's Island Lakes neighbourhood presents a specific and practical opportunity. Its key appeal lies in being a more modestly-sized, entry-level property within a well-established area. With 1,056 sqft of living space, a renovated basement, and an attached garage, it offers the essential components of single-family living. The lot size of nearly 7,000 sqft is notably above average for both the neighbourhood and the city, providing generous outdoor space relative to the home's footprint.
The property would suit first-time buyers or downsizers seeking a lower-maintenance home with a manageable scale and a solid, renovated foundation. Its assessed and recent sold prices position it well below the average for Island Lakes, making it one of the more accessible points of entry into the neighbourhood. A thoughtful perspective is that while the home itself is smaller than most on its street, it offers a favourable land-to-building ratio, which could be a long-term asset for expansion or simply for enjoying more private outdoor space than is typical in newer subdivisions.
Frequently Asked Questions
1. How does the home's size compare to others in the area?
The living area is below average for both Island Cove and the broader Island Lakes neighbourhood. However, it is close to the city-wide average, indicating it's a compact but not unusually small home for Winnipeg.
2. Is the assessed value a reliable indicator of the property's market price?
The assessed value is a municipal calculation for tax purposes and is typically below market value. The recent sold price range (provided upon request) is a more current and direct indicator of its market worth.
3. What does "renovated basement" typically include in a home of this age?
While specifics should be verified by a viewing or inspection, in a 1985 bi-level, this often means updated flooring, drywall, and lighting, potentially creating a finished family room or additional living space. It's important to check for permits and the quality of the renovation.
4. The home ranks low for size and value on its street. Is this a concern?
This reflects the property's position as a more modest home on a street of larger, potentially higher-value properties. This can be an advantage for buyers seeking affordability in a desirable location, though it's wise to consider how the difference in scale affects streetscape and future resale.
5. How can I obtain the exact historical sold prices?
Exact sold prices are not publicly displayed in detail. You can request them directly via the email prompt on the listing page. The service is manual, with a promise of a reply by the end of the same day and no unsolicited marketing use of your email address.