Property Overview: 23 Quayside Cove, Island Lakes
Key Characteristics & Appeal
This single-storey home at 23 Quayside Cove is a study in contrasts, offering a blend of modest size with above-average valuation in its immediate neighborhood. With 1,220 sqft of living space and a renovated basement, its footprint is very typical for Quayside Cove but is considered compact compared to the broader Island Lakes area. The standout feature is its assessed value of $450,000, which ranks in the top 12% on its own street, suggesting factors beyond pure square footage—like the basement renovation, lot location, or specific upgrades—are positively impacting its worth. Built in 1988, the home sits on a 5,036 sqft lot, which is smaller than most on the street but average for the wider city.
Its primary appeal lies in its efficiency and established location. It suits buyers looking for a manageable, single-level layout in a mature, sought-after neighborhood like Island Lakes, without the upkeep of a larger property. It would particularly fit first-time buyers moving into a family-friendly area, downsizers seeking main-floor living with a finished basement for extra space, or value-focused investors who note its assessed value premium on the street. A thoughtful perspective is that this home represents an entry point into a desirable area, where you're paying more for the location and lot than for expansive square footage, making it a strategic purchase rather than a sheer space-maximizing one.
Frequently Asked Questions
1. Why is the assessed value notably higher than the street average?
While the exact reasons aren't detailed here, a higher assessment compared to neighboring homes often reflects significant updates (like the mentioned basement renovation), a premium lot position, or quality improvements that municipal assessment models recognize.
2. How does the home's size compare practically to others in Island Lakes?
At 1,220 sqft, this home's living area is below the Island Lakes average. This means it likely offers cozier, more efficient living spaces compared to the larger two-storeys common in the area, which is a trade-off for location and potentially lower utility costs.
3. What does the sold price history from 2022 indicate?
The sold price range from November 2022 (approximately $40.50k - $43.50k) appears to be an anomaly and likely represents a data transfer error or a non-arms-length transaction. It should not be considered a market benchmark. For accurate historical sold prices, direct inquiry is necessary.
4. Is the smaller lot size a significant drawback?
At just over 5,000 sqft, the lot is below the street average but is still a standard city lot. It requires less maintenance than larger plots, which can be an advantage, but may limit expansion possibilities or extensive landscaping.
5. Who would this home not be ideal for?
It may not suit growing families requiring multiple large bedrooms and abundant living space, or buyers whose primary goal is maximum square footage and yard size for their budget within Winnipeg.