Property Overview: 78 Tidal Cove, Island Lakes, Winnipeg
Key Characteristics & Buyer Appeal
This single-storey home in the established Island Lakes neighbourhood presents a practical and grounded opportunity. Its key characteristics include a renovated basement, an attached garage, and a manageable 1,245 sqft of living space on a 5,989 sqft lot. Built in 1986, the home is of a typical vintage for the area. The data reveals a property that is consistently "around average" in its immediate context on Tidal Cove for size, value, and age, suggesting it fits seamlessly into the streetscape without standing out as either premium or underdeveloped.
The appeal lies in its stability and renovation-ready foundation. The updated basement adds immediate functional living space, a valuable asset. While the lot is smaller than others on the street, it translates to less yard maintenance. Its assessed value sits notably above the city-wide average for similar homes, which can indicate a desirable location or solid underlying value relative to the broader market. This home would suit first-time buyers or downsizers seeking a manageable, single-level layout in a mature neighbourhood. It’s for those who value a quiet, established community over a brand-new build and see potential in a home that offers a key renovation (the basement) but may allow for personal updates elsewhere over time.
Frequently Asked Questions
1. How does the property’s value compare to its neighbours?
The home’s assessed value is very close to the average for Tidal Cove itself, but is actually below the average for the wider Island Lakes area. Interestingly, city-wide, it ranks above average for assessed value among comparable homes, suggesting the specific local market on Tidal Cove is very consistent or that the broader city data includes many older or different property types.
2. Is the lot size a disadvantage?
While the lot is below average for Tidal Cove, it is near the average for both Island Lakes and Winnipeg overall. It provides a decent outdoor space with potentially less upkeep than larger lots on the street, which could be seen as a benefit for those seeking lower maintenance.
3. What does the sold price history indicate?
The home was last sold in July 2019 for an estimated range of $355k-$385k. To understand current value, this should be compared with recent sales of similar homes in Island Lakes, as the market has evolved since then. The exact sold price is available upon request from the listing source.
4. Who might this home not suit?
Buyers looking for a large, expansive yard or those seeking a home that significantly outperforms its immediate neighbours on square footage may find the lot and living area dimensions typical rather than exceptional. It may also require updates consistent with its 1986 age.
5. What is the significance of the "renovated basement"?
This is a key feature, adding finished living space that many homes of this era may not have. It immediately increases the home’s usable area without the buyer needing to undertake a major renovation project themselves.