Property Overview: 23 Cheltenham Cove, Winnipeg
Key Characteristics & Appeal
This is a well-established, two-storey family home in Elmhurst, built in 1984 and situated on a generous 6,108 sqft lot. With 1,449 sqft of living space, a finished basement, and an attached garage, it offers practical suburban living. The home’s recent sale in July 2022 for $507,000 provides a clear, modern benchmark for its market value.
Its appeal lies in its balance of space, location, and proven value. The lot size is a significant asset, offering ample outdoor room in a mature neighbourhood. The rankings provided show a home that, while not the largest on its street, holds a strong position city-wide—particularly in lot size (top 28% in Winnipeg) and recent sale price (top 17% in Winnipeg). This suggests a property that outperforms many in broader comparisons, offering a relative value within its immediate area. It would suit buyers looking for a move-in ready, low-maintenance home in a quiet cove, ideal for small families, downsizers seeking single-level living potential (with main-floor primary bedroom), or value-focused investors attracted by its solid resale history and desirable lot.
Frequently Asked Questions
1. How does the 2022 sale price relate to the current assessed value?
The home sold for $507,000 in July 2022, which is approximately 15% above its current municipal assessment of $442,000. This indicates the assessed value may not reflect recent market trends and the price a willing buyer paid fairly recently.
2. What do the provided rankings actually mean?
They show how this property compares to others in three areas: its immediate street, the broader Elmhurst community, and all of Winnipeg. For example, being in the top 28% city-wide for lot size means 72% of Winnipeg properties have a smaller lot, highlighting a key strength.
3. Is the age of the home (42 years) a concern?
Built in 1984, the home is in the middle of its expected lifespan. While major components like the roof, windows, and HVAC may be due for inspection or updates, the rankings show it is newer than 66% of Winnipeg homes, which is a positive. A thorough inspection is always advised.
4. How does the living space compare to the neighbourhood?
At 1,449 sqft, it is larger than 69% of Winnipeg homes but is actually one of the more modestly sized homes on its specific street (ranking 7th out of 8). This suggests a street of larger homes, offering a potential value entry point into a well-established enclave.
5. What is the significance of the finished basement?
A finished basement adds flexible living space without increasing the home’s official footprint or property taxes proportionally. It can serve as a family room, home office, or guest space, enhancing the home’s functionality beyond its stated square footage.