Property Overview: 56 Limetree Cove, Niakwa Place
Key Characteristics & Appeal
This well-situated home at 56 Limetree Cove presents a compelling blend of space, modern age, and established value. Built in 2001, it occupies a generous 7,708 sqft lot in the sought-after Niakwa Place neighbourhood. With 2,075 sqft of living area, the home offers above-average space both for its immediate area and across Winnipeg, providing room to grow without the footprint of a maximized estate.
The primary appeal lies in its strong positional value. The home’s assessed value of $701k ranks within the top 8% of Niakwa Place and an elite top 4% city-wide, indicating a premium property in a desirable location. Its 2001 build year is notably newer than most homes in the broader area, suggesting modern construction standards while still being part of a mature, settled community. The lot size is comfortably above the city average, offering ample outdoor space.
This property would ideally suit move-up buyers or established families seeking a spacious, modern home in a prime neighbourhood without venturing into brand-new developments. It also appeals to value-conscious purchasers who understand that its above-average metrics for the city, combined with a merely "around average" ranking on its own street, may represent a relative value opportunity within an exclusive enclave.
Frequently Asked Questions
1. How does this home’s value compare to others on the street?
While the home’s assessed value is above the street average ($701k vs. $657.1k), it ranks 4th highest out of 14 homes on Limetree Cove. This suggests it is a solid, valuable property on a street of substantial homes, but not the absolute top-tier, which could be appealing for buyers prioritizing the location.
2. Is the home’s size typical for the area?
At 2,075 sqft, the living area is slightly below the average for Limetree Cove itself but is significantly larger than the averages for both Niakwa Place and Winnipeg as a whole. You are getting a home that feels spacious in a city-wide context, on a street where some homes are even larger.
3. What does the sold price history indicate?
Records show it last sold in May 2019 for between $550k-$600k. The current assessed value of $701k reflects market appreciation and assessment methodology over that period. For exact historical sold prices, a manual lookup via the site’s email service is required.
4. How does the lot size impact potential?
The 7,708 sqft lot is over 1,100 sqft larger than the city average. This provides significant yard space for gardens, recreation, or potential additions (subject to zoning and permits), a feature that becomes increasingly rare.
5. Why is the “year built” ranking so high for Niakwa Place?
Ranking in the top 5% for year built in the neighbourhood highlights that Niakwa Place is primarily an established, older area. A 2001 build date is considered relatively new there, offering more contemporary layouts and systems compared to much of the surrounding housing stock.