Property Overview: 40 Olynyk Cove
Key Features & Ideal Buyer
This well-established two-storey home in Elmhurst offers a blend of space, recreation, and mature neighbourhood living. Its key characteristics include a generous 2,579 sqft of living space, a fully finished basement, an in-ground pool, and an attached garage on a large 6,307 sqft lot. Built in 1992, the home presents a compelling value proposition with an assessed value of $702,000.
The appeal lies in its rare combination of size and amenities within a sought-after area. The home ranks in the top tier locally for both its square footage and lot size, offering more room than the vast majority of comparable properties. The private backyard pool is a standout feature for family summers and entertaining. Beyond the obvious, its strong rankings for assessed value suggest it is a substantial property that has been well-maintained within its cohort, offering a sense of established stability. This property would ideally suit a growing or multi-generational family looking for a move-in ready home with ample indoor and outdoor space for recreation, and for buyers who value a mature neighbourhood setting over a brand-new build.
Frequently Asked Questions
1. How does the age of the home (built 1992) factor into maintenance?
While the home is well-established, a property of this age may be due for updates to major systems like the roof, HVAC, or windows. A thorough inspection is recommended to budget for any upcoming maintenance or modernization projects.
2. What are the ongoing costs associated with the pool?
Prospective buyers should factor in seasonal opening/closing services, increased utilities for pumping and heating, routine chemical maintenance, and insurance implications. The pool is a fantastic amenity but requires a dedicated annual budget.
3. The home ranks very high for size but lower for "newness" in the community. What does this mean?
This indicates the home is larger than most in Elmhurst, but there are newer constructions nearby. It reflects a trade-off: you gain significant interior space and a mature, landscaped lot, but the design and some finishes may reflect its era rather than current trends.
4. What is the significance of the high assessed value ranking?
Ranking in the top 3% of Winnipeg for assessed value confirms this is a substantial property in the city's market. It generally correlates with higher property taxes but also suggests a strong underlying value and investment in the home over time.
5. Is the finished basement included in the listed living area?
Typically, the 2,579 sqft measurement refers to above-grade living space. The fully finished basement provides additional square footage for recreation or guests, which is a significant bonus not reflected in the primary living area figure.