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.