3 Swansea Cove

Property Overview

3 Swansea Cove is a well-established, single-storey home in Winnipeg's Elmhurst neighborhood, built in 1984. Its primary appeal lies in offering solid, move-in-ready space on a large, private lot. With 1,320 sqft of living space, a finished basement, and an attached garage, it provides practical family living. The property stands out for its exceptional lot size of over 6,400 sqft, which is significantly larger than many in the area, offering ample outdoor potential. Its value is further underscored by its city-wide rankings: it sits in the top 23% for lot size and the top 27% for assessed value in Winnipeg, indicating a strong fundamental investment relative to the broader market.

This home would suit first-time buyers or downsizers looking for a manageable single-level layout without sacrificing yard space. It’s also a practical choice for value-focused buyers who appreciate a home that ranks well above average for its lot and assessment value within the city, suggesting a good foundation for future equity.

Key Questions for Consideration

1. How does the age of the home (1984) impact maintenance?
While the home is well-established, a property of this age may be approaching the natural replacement time for major components like the roof, windows, or HVAC system. A thorough inspection is advised to budget for any upcoming updates.

2. What are the benefits of such a large lot?
The nearly 6,500 sqft lot is a significant asset, offering privacy, space for gardening, play, or entertaining, and potential for future additions like a shed or deck. It provides a suburban feel within the city.

3. The home ranks lower within its immediate street for size and value. Is this a concern?
This suggests the immediate block may have larger or higher-valued homes. This isn't inherently negative; it can mean the home is a more affordable entry point into a desirable street, with the potential to benefit from the overall character of the area.

4. What does the "finished basement" include?
The listing confirms the basement is finished but does not specify the rooms or quality. It's important to clarify if it includes legal bedrooms, a proper living area, and the ceiling height, as this adds significantly to the usable space.

5. Why is the assessed value ranking higher than the size ranking?
The home ranks better for value (top 27% in Winnipeg) than for pure living space (top 38%). This often indicates that factors like the premium lot size, location, condition, or improvements are positively influencing its official valuation compared to other homes.