92 Overwater Cove

Property Summary

Key Characteristics & Appeal

This is a substantial, well-established family home in Elmhurst, built in 1996. Its primary appeal lies in its generous scale and prime lot size. With nearly 3,000 sqft of living space, it ranks in the top 1% of homes in Winnipeg for size, offering ample room for a growing or multi-generational family. The property sits on a large, quarter-acre lot (over 10,500 sqft), providing exceptional outdoor space that is increasingly rare in newer subdivisions. A finished basement and an attached garage add to its functional layout.

Beyond the obvious space, its value is underscored by strong market positioning. The home ranks in the top 5% of Winnipeg properties by assessed value, indicating it is a premium asset within its market. It suits buyers looking for a long-term family home with established landscaping and room to grow, who prioritize interior volume and lot size over a brand-new build. It’s also a compelling option for those who appreciate a home with a proven history and a sense of permanence in a mature neighbourhood.

Frequently Asked Questions

1. What does the high ranking in assessed value actually mean?
It means this home’s municipal assessment is higher than 99% of properties in Winnipeg, placing it among the city's most valuable residential assets. This typically reflects its combination of large lot, generous square footage, and desirable location.

2. The home is 30 years old. What should I expect regarding maintenance?
While the core structure is established, key systems and components (like the roof, windows, furnace, and major appliances) may be at or approaching their typical lifespans. A thorough inspection is advised to budget for any upcoming updates or replacements.

3. How does the lot size benefit a buyer practically?
A lot of this size (over 10,500 sqft) offers significant potential beyond a simple backyard. It allows for expansive gardens, recreational space, potential additions like a large shed or workshop, and greater privacy from neighbours—a feature very difficult to find in newer developments.

4. The home ranks #1 on its street for size and value. Is that a positive?
Generally, yes. It suggests the property is a standout asset on its street, which can be beneficial for long-term value retention. However, it also means there is less potential for "upgrading" to a larger home on the same street without moving neighbourhoods.

5. Is the finished basement included in the listed living area?
Typically, municipal living area (sqft) calculations in Winnipeg do not include below-grade spaces, even if finished. The 2,942 sqft likely refers to above-ground living space only, with the finished basement providing additional bonus space.