Property Overview: 91 Quayside Cove, Island Lakes, Winnipeg
Section 1: Key Characteristics & Buyer Profile
This one-storey home at 91 Quayside Cove is a compact, 890 sqft bungalow built in 1988, featuring an attached garage and a renovated basement. Its appeal lies in its efficient, single-level layout and its position within the established, family-friendly Island Lakes neighbourhood. The lot is a standard size for the area at just over 5,300 sqft.
The home’s standout characteristic is its value proposition. While its living space is notably smaller than most comparable homes on its street and in Winnipeg overall, its assessed value aligns more closely with city-wide averages. This suggests the potential for a lower entry price into a desirable area, with the renovated basement adding functional space. It would suit first-time buyers, downsizers, or investors seeking an affordable foothold in a mature neighbourhood without the maintenance of a larger property. The appeal is practical: a manageable home in a good location, where your investment is primarily in the community and land, rather than in excessive square footage.
Section 2: Frequently Asked Questions
1. Is the living area too small for a family?
At 890 sqft above grade, it is compact. However, the renovated basement significantly increases the usable living space, making it more functional for a small family or couple than the main floor square footage alone suggests.
2. How does the assessed value compare to the likely selling price?
The home last sold in mid-2022 for an estimated $44.5K-$47.5K, which was notably lower than the assessed values of comparable homes at the time. Its current assessed value of $37.8K is around average for its street. This history indicates it may trade at a value-focused price point relative to other area homes.
3. What are the benefits of a one-storey home like this?
The bungalow style offers easy, accessible living—a major plus for aging in place or for those who prefer to avoid stairs. It often also means a simpler roof structure and exterior maintenance.
4. The home is older; will it need major updates?
Built in 1988, it is of an age where core components like the roof, windows, and major systems may be reaching or have passed their typical lifespan. A thorough inspection is advised, though the basement renovation is a recent positive update.
5. How does this property rank within Island Lakes?
The data shows it ranks in the top 99% for neighbourhood value, meaning its assessed value is lower than nearly all (2,044 out of 2,119) comparable homes in Island Lakes. This underscores its position as a more affordable option within this community.