Property score
82.1
Excellent
Overall 82.1 · Older than most nearby homes
1,625 sqft (bottom 49%) · Built in 1986 (9 yrs older than avg)
Located in a high-income area with median household income of ~106k
Transit 74.0 · 2-min walk to transit with 2 nearby routes · Within 500m: 1 dining spot, and 3 parks nearby
Living Area
Near average
1% smaller than neighborhood avg.
Year Built
Below average
9 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
Buying a home is more than a transaction. Our Winnipeg real estate agents provide market insights, pricing analysis, and neighbourhood expertise to help you decide with confidence.
Usually replies in a few minutes
Free · No credit card required
82.1 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
31 Waterside Cove — 4 amenities found within 500 m, across 2 categories, including 1 dining (nearest 242 m), 3 parks (nearest 381 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 1% | Bottom 19% | Top 39% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview: 31 Waterside Cove, Island Lakes
Section 1: Key Characteristics & Appeal
This 4-level split home, built in 1986, presents a unique value proposition in Winnipeg’s Island Lakes neighbourhood. With 1,625 sqft of living space, it sits above the city-wide average for size but is one of the more modest homes on its own street. Its key feature is a generous 7,655 sqft lot, which is notably larger than most in Island Lakes and across the city, offering ample outdoor space and potential. The home includes a renovated basement and a pool, but no garage.
The appeal lies in its balance of space and location. You get a home with room to grow or enjoy outdoors in a well-established, family-friendly area, often at a perceived value relative to other properties. The renovated basement adds functional living space. It’s well-suited for buyers who prioritize lot size over having the largest house on the block, or for those entering a desirable neighbourhood who are comfortable with a home that may benefit from personal updates. It could also appeal to someone looking for a property with a pool and the space to enjoy it privately.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to likely selling price?
The assessed value is a municipal figure for tax purposes and is typically lower than market value. While it provides a benchmark, the final sale price is determined by current market conditions, the home’s specific features, and buyer demand.
2. The home seems smaller than others on the street. Is that a concern?
While the living area is below the street average, the lot size is competitive. This suggests the property may offer a different balance—more outdoor space relative to indoor space. For buyers valuing yards, gardens, or privacy, this can be a significant advantage.
3. What does the "above average" city-wide ranking for year built mean?
Built in 1986, this home is newer than the median Winnipeg house. This can be positive, potentially meaning fewer major systems (like roofing or plumbing) are as near to end-of-life as in older city homes, though a 40-year-old home will still require thorough inspection.
4. There’s no garage. How does that impact value and lifestyle in Island Lakes?
The lack of a garage is a consideration for vehicle storage, security, and additional storage space. Buyers should factor in the cost of adding a shed or carport if needed, and consider on-street parking availability, especially in winter.
5. The sold price history shows a wide range. Why is that?
The listed price ranges are estimates from public data. The exact sold price can be requested to understand the true market history. Fluctuations can be due to the property’s condition at the time of past sales, varying market cycles, and specific terms of each sale that aren't publicly recorded.
