Property Overview

This 1987 two-storey home at 137 Overwater Cove offers a well-established, spacious family environment in Winnipeg's Elmhurst neighbourhood. Its key appeal lies in the combination of substantial interior space (over 2,200 sqft of living area) on a large, private lot (over 7,150 sqft), a rare find that provides room to grow and relax. The finished basement and in-ground pool add significant recreational and entertainment value right at home. The property’s strength is its balanced competitiveness: it ranks highly city-wide for its generous living space and assessed value, suggesting strong fundamentals for the price, while the neighbourhood itself offers a more settled, mature community feel. This home would ideally suit a growing or multi-generational family looking for a move-in-ready property with ample private outdoor space for children and gatherings, and for buyers who value the stability and established character of a near-40-year-old home on a generous lot over a brand-new build in a denser subdivision.

Key Details & FAQs

• Key Characteristics: 2,203 sqft two-storey with a finished basement, in-ground pool, and attached garage. Built in 1987 on a 7,159 sqft lot in Elmhurst.
• The Appeal: A premium-sized family home on a large, private lot with recreational amenities (pool, finished basement). It ranks in the top 16% of Winnipeg for lot size and top 6% for living area, indicating a property that stands out for space.
• Ideal For: Growing or established families seeking space, privacy, and move-in-ready amenities like a pool. Buyers who appreciate an established neighbourhood and a home with strong value rankings relative to the city.

Frequently Asked Questions

1. How does the age of the home (built 1987) factor into its value?
While 39 years old, the home ranks newer than 72% of properties city-wide, indicating it's in a well-established but not antiquated segment. Buyers should budget for updates consistent with its age (roof, windows, HVAC), but the rankings suggest it remains competitively modern compared to much of Winnipeg's housing stock.

2. The lot is large, but how is the neighbourhood ranking only average?
The property ranks in the top half of its own community for size and value, but Elmhurst is a mature neighbourhood with a wide variety of homes. The "average" community ranking reflects this mix, not a drawback. It means you're getting a top-tier property within a stable, established area rather than a new, homogenous subdivision.

3. What does the high city-wide ranking for living space and assessed value actually mean?
Ranking in the top 6-8% of Winnipeg for these metrics is significant. It means you are getting substantially more house and land for your money compared to the vast majority of properties in the city, which is a key indicator of long-term value and desirability.

4. Is the in-ground pool a major consideration?
Yes. It's a major source of seasonal enjoyment and adds to the family and entertainment appeal. Prospective buyers should factor in the ongoing maintenance costs, insurance implications, and the seasonal utility of a pool in Winnipeg's climate to determine its personal value.

5. Who might this home not suit?
It may not suit first-time buyers or those seeking a low-maintenance, lock-and-leave lifestyle due to the size of the lot and the pool upkeep. It's also less suited for those prioritizing a brand-new, custom-built home with modern open-concept layouts, as a 1987 build will likely have a more traditional room division.