Property score
69.8
Good
Overall 69.8 · Smaller and older than most nearby homes
1,056 sqft (bottom 5%) · Built in 1985 (10 yrs older than avg)
Located in a high-income area with median household income of ~106k
Transit 82.0 · 1-min walk to transit with 2 nearby routes · Within 500m: 1 dining spot, and 2 parks nearby
Living Area
Below average
35% smaller than neighborhood avg.
Year Built
Below average
10 yrs older than neighborhood avg.
Mother tongue
English · 71%French · 5%
Past 10 years Island Lakes sales snapshot (~80% of all data)
654
580k
$348/sqft
1995
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69.8 is composed by the two sections below.
Property Score
Community Score
Island Lakes
How to read: Share of sales in each ~$50k price band for “island lakes” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
Sales-to-New-Listings
1,196
sold
1,852
new listings
Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba
Sold Above Asking
Majority sold above asking
68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026
With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110514
$106K
Median household income
$129K
Average household income
8%
Low income (LIM-AT)
0.3
Income inequality (Gini)
3.8
P90 / P10 ratio
18%
Single-person households
31%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
3 Island Cove — 3 amenities found within 500 m, across 2 categories, including 1 dining (nearest 152 m), 2 parks (nearest 290 m).
Island Lakes · WPS public data · 2026
Annual incidents
3
2026
vs. city avg
-90%
relative to avg
Year-over-year
▼ -97%
vs. prior year
Primary type
Violent
67%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 25% | Bottom 47% | Top 27% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview
This 1985 bi-level home at 3 Island Cove in Winnipeg's Island Lakes neighbourhood presents a specific and practical opportunity. Its key appeal lies in being a more modestly-sized, entry-level property within a well-established area. With 1,056 sqft of living space, a renovated basement, and an attached garage, it offers the essential components of single-family living. The lot size of nearly 7,000 sqft is notably above average for both the neighbourhood and the city, providing generous outdoor space relative to the home's footprint.
The property would suit first-time buyers or downsizers seeking a lower-maintenance home with a manageable scale and a solid, renovated foundation. Its assessed and recent sold prices position it well below the average for Island Lakes, making it one of the more accessible points of entry into the neighbourhood. A thoughtful perspective is that while the home itself is smaller than most on its street, it offers a favourable land-to-building ratio, which could be a long-term asset for expansion or simply for enjoying more private outdoor space than is typical in newer subdivisions.
Frequently Asked Questions
1. How does the home's size compare to others in the area?
The living area is below average for both Island Cove and the broader Island Lakes neighbourhood. However, it is close to the city-wide average, indicating it's a compact but not unusually small home for Winnipeg.
2. Is the assessed value a reliable indicator of the property's market price?
The assessed value is a municipal calculation for tax purposes and is typically below market value. The recent sold price range (provided upon request) is a more current and direct indicator of its market worth.
3. What does "renovated basement" typically include in a home of this age?
While specifics should be verified by a viewing or inspection, in a 1985 bi-level, this often means updated flooring, drywall, and lighting, potentially creating a finished family room or additional living space. It's important to check for permits and the quality of the renovation.
4. The home ranks low for size and value on its street. Is this a concern?
This reflects the property's position as a more modest home on a street of larger, potentially higher-value properties. This can be an advantage for buyers seeking affordability in a desirable location, though it's wise to consider how the difference in scale affects streetscape and future resale.
5. How can I obtain the exact historical sold prices?
Exact sold prices are not publicly displayed in detail. You can request them directly via the email prompt on the listing page. The service is manual, with a promise of a reply by the end of the same day and no unsolicited marketing use of your email address.
