3 Waterside Cove

Property Overview: 3 Waterside Cove, Island Lakes

Key Characteristics & Appeal

This two-storey home in the established Island Lakes neighbourhood sits on a large, 7,650 sqft lot, placing it in the top tier for land size on its street. Built in 1986, the 1,908 sqft residence features an attached garage and a renovated basement. Its appeal lies in a combination of space, location, and value. The lot size is a significant asset, offering ample outdoor privacy and potential in a mature area. While the house itself is of average size for the street, the renovated basement adds modern, functional living space.

The property suits buyers looking for a grounded, long-term family home in a well-regarded neighbourhood without the premium of a brand-new build. It’s ideal for those who value a larger yard over a newer construction date and are comfortable with a home from the mid-80s. The strong rankings for lot size within Winnipeg suggest you are getting more land here than in most of the city, which is a less obvious but enduring value. Comparatively, its assessed value is healthy for the area, indicating a solid foundation for the asking price.

Frequently Asked Questions

1. How does the 1986 build year affect this home?
Homes from this era often have well-established landscaping and mature neighbourhood character. Buyers should plan for updates consistent with a 40-year-old property, such as windows, roof, or major systems, which can be factored into the offering price.

2. The living area is ranked average, but the lot is large. What does this mean for me?
This configuration prioritizes outdoor space. It’s perfect for families, gardeners, or anyone wanting room for a deck, play structure, or future addition. You’re buying substantial land with a comfortable, renovated house on it.

3. The assessed value seems low compared to the likely sale price. Why?
Municipal assessed value for tax purposes is not a direct marker of market value. It’s a useful benchmark to see how the city views the property relative to others. The sale price will be determined by current market conditions, the home’s updated condition, and its desirable lot size.

4. What is the neighbourhood of Island Lakes like?
Island Lakes is a mature, family-oriented community in southeast Winnipeg known for its curvilinear streets, lakes, and parks. It offers a blend of quiet residential living with good access to schools, shopping, and major routes.

5. Are the property taxes provided?
No, the exact annual property tax amount is not listed here. You can calculate an estimate by applying the City of Winnipeg’s current tax rate to the assessed value of $49,400, but contacting the listing agent for the most recent tax bill is recommended.