Property Overview: 50 Tidal Cove, Island Lakes
Section 1: Key Characteristics & Appeal
This home is a 1986, three-level split with 1,055 sqft of living space and a renovated basement, situated on a generous 6,729 sqft lot in Island Lakes. Its key appeal lies in its position as a more accessible entry point into a well-established neighbourhood. While the house itself is notably compact compared to others on its street and in Island Lakes, its assessed value reflects this, offering a price point below the local averages. The renovated basement adds functional living space, and the lot size is above average for both the neighbourhood and the city, presenting a valuable outdoor canvas relative to the home's footprint.
It would suit first-time buyers or downsizers seeking a foothold in a mature area without the premium for larger square footage. The property is also a practical candidate for those who value a larger yard over interior space or see potential in the existing renovation as a solid foundation for further personal updates. It’s a home that trades sheer size for lot proportion and location, appealing to pragmatic buyers.
Section 2: Frequently Asked Questions
1. How does the size of this home compare to others in the area?
At 1,055 sqft, the living area is below the average for both Tidal Cove and the wider Island Lakes neighbourhood. This is a key factor in its pricing and represents a more compact option in the area.
2. Is the assessed value a reliable indicator of the likely selling price?
The assessed value is a municipal tax valuation, not a market price. However, the recent sold price history (fall 2024) shows a range close to this assessment, suggesting it may be a relevant benchmark, though market conditions always dictate the final sale price.
3. What does "below average" for year built in Island Lakes mean?
Built in 1986, this home is older than the average house in Island Lakes, where many homes are newer. On Tidal Cove itself and citywide, however, its age is around or above average. This indicates it's in an older pocket of the neighbourhood.
4. The lot seems large relative to the house. Is that unusual?
Yes. The lot is above average in size for both the neighbourhood and Winnipeg overall. This is a distinct feature, offering more outdoor space than is typical for a home of this square footage, which could be a major asset for gardening, play, or expansion.
5. What is the significance of the renovated basement?
The renovated basement adds finished living space to the home's total usable area, which is an important consideration given the main living area's compact size. It suggests some modern updates have been made, though the scope and quality of the renovation should be verified during a viewing.