Property Overview
38 Reese Cove is a well-established, spacious home in Winnipeg's Normand Park neighborhood. Built in 1988, it sits on a 5,605 sqft lot and offers 1,934 sqft of living space with a current assessed value of $510,000.
Key Characteristics & Appeal
This home’s primary appeal lies in its generous interior space relative to its price point. With living area rankings in the top 20% on its street and top 12% city-wide, it offers more square footage than most Winnipeg homes. This makes it a strong value-for-space proposition, particularly for growing families or those who prioritize room to spread out.
The assessed value tells an interesting story: it's above average for the city overall, but below the average for the Normand Park area. This suggests you are acquiring a larger home in a established neighborhood, but potentially at a more accessible price point than some of the area's newer or more renovated properties. The lot size is manageable, offering outdoor space without being burdensome to maintain.
It would best suit practical buyers looking for space and value in a mature neighborhood. It’s ideal for those who see potential in a solid 1980s build and are comfortable with a home that may require updates to align with modern tastes. It’s less suited for buyers seeking a new construction, a premium lot size, or a property at the very top end of the neighborhood's market.
Frequently Asked Questions
1. How does the sold price from 2022 relate to the current assessed value?
The home sold for an estimated $550k-$600k in mid-2022. The current assessed value of $510k may reflect market adjustments since that peak, providing a grounded baseline for valuation.
2. What does it mean that the home is "below average" for the neighborhood in assessed value?
This typically indicates that, compared to other homes in Normand Park, this property may be more modest in finish, style, or updates. It can represent an opportunity to enter the neighborhood at a relatively lower point, with the understanding that comparable homes nearby average a higher value.
3. Is the living area efficiently configured?
The data confirms the home is spacious, but the layout is not detailed here. A home of this age and size may have a more traditional room division compared to modern open-concept plans. Viewing the floor plan is essential.
4. How does the lot size impact future potential?
At 5,605 sqft, the lot is slightly smaller than the street and area averages. This is still a good-sized urban lot, but it may impose some limitations on large-scale additions or pool installations compared to properties on larger lots.
5. Where can I get verified sale history and exact figures?
The site notes that exact sold prices are not displayed publicly due to industry rules. You can request the exact transaction history by emailing the site directly for a manual lookup, which they provide without using your email for marketing.