Property Summary: 50 Overwater Cove
Key Characteristics & Appeal
This is a spacious, well-established two-storey home in Elmhurst, built in 1985. Its primary appeal lies in its generous 8,400 sqft lot, which is significantly larger than most properties in Winnipeg, placing it in the top 10% for land size city-wide. The home features a finished basement, a combined attached and detached garage, and a comfortable 1,708 sqft of living space. While the house itself is older, it sits on a premium parcel of land in a mature neighbourhood.
The property would best suit a buyer who values outdoor space and established communities over a brand-new build. It’s ideal for someone looking for a project—whether that’s gardening, landscaping, or future updates to the home itself—with the security of a large, private lot as a foundation. The strong rankings for lot size and assessed value within the community suggest a solid, desirable location, appealing to long-term investors or families seeking room to grow.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings show how this property compares to others in its immediate street, the broader Elmhurst community, and all of Winnipeg. For example, its land size ranks in the top 10% city-wide, indicating a rare, large lot. Conversely, its build year is among the oldest on its street, confirming the mature nature of the homes in this specific enclave.
2. Is the house outdated?
Built in 1985, the home is 41 years old. While it has a finished basement, the age suggests that core systems (like roof, windows, HVAC) may need evaluation or could be due for updates, which is typical for homes of this vintage. The value here is weighted more toward the land and location.
3. What are the advantages of such a large lot?
Beyond privacy and space for recreation, a lot of this size (8,400 sqft) offers long-term flexibility. It provides ample room for additions, extensive landscaping, gardening, or even future subdivision potential, subject to municipal bylaws. It's a hedge against the trend of smaller, denser lots in newer developments.
4. How does the assessed value relate to the asking price?
The municipal assessment of $531,000 is a benchmark for property taxes and indicates the city’s valuation. The eventual sale price will be determined by the market, but an assessment that ranks in the top 18% of the community suggests a historically valuable property relative to its neighbours.
5. What is the "combined" garage setup?
The listing notes a "连体+分体" garage, meaning there is both an attached garage (typically convenient for daily use) and a separate detached garage. This is a valuable feature for extra storage, a workshop, or parking for recreational vehicles, complementing the large lot perfectly.