183 Overwater Cove

Property Overview

This 1987-built, two-storey home on a large, 6,697 sqft lot in Elmhurst presents a practical and spacious family living option. Its key appeal lies in its generous proportions and established neighbourhood setting. With 1,810 sqft of living space and a finished basement, it offers ample room for growth. The property's standout characteristic is its land size, which ranks in the top 20% across Winnipeg, providing significant outdoor space—a relative rarity. Its assessed value also ranks highly (top 13% citywide), suggesting solid underlying value for the area.

The home would suit buyers prioritizing space over turn-key luxury, such as growing families or those seeking a property with room to expand or garden. It’s a practical choice for someone comfortable with a home of this vintage, possibly looking to personalize it over time. The lack of a garage is a trade-off for the large yard, making it less ideal for those requiring protected parking but appealing for those valuing outdoor recreation or landscaping potential.

Frequently Asked Questions

1. How does the home’s age affect maintenance?
Built in 1987, major components like the roof, windows, and mechanical systems are likely within or approaching their typical renewal periods. A thorough inspection is advised to budget for upcoming updates, which is common for homes of this era.

2. What does the high assessment value ranking mean?
Ranking in the top 13% in Winnipeg for assessed value indicates the city’s assessment places it above most properties in terms of worth. This can be a sign of a strong underlying property value for the area, though the final market price is determined by buyer competition.

3. Is the lot size a major advantage?
Yes. The lot size ranks in the top 20% citywide, which is a significant asset. It offers superior outdoor space for play, gardening, or future additions like a deck or garage, compared to many newer properties on smaller lots.

4. The home ranks lower for size on its own street. Should I be concerned?
While it surpasses 76% of homes in the broader community for living space, its ranking on its specific street (top 79%) suggests the immediate block may have larger homes. This isn’t necessarily negative—it means the neighbourhood is consistently desirable, and the property still offers substantial interior space.

5. What are the implications of having no garage?
This requires planning for vehicle parking, storage, and winter vehicle preparation. The large lot does offer potential to add a garage in the future, subject to local bylaws and budget, which could be a strategic long-term improvement.