Rinse overripe strawberries gently under cold water. Hull and quarter them, leaving some smaller pieces for texture (about 5 minutes).

Add strawberries, sugar, water, lemon juice, and ground cinnamon to a medium saucepan. Stir gently until sugar starts dissolving, about 2 minutes.

Place saucepan over medium-low heat and simmer gently, stirring occasionally, until strawberries break down and release juices, about 8-10 minutes.

Check consistency: compote should coat the back of a spoon but still have some chunks. If too watery, simmer longer; if too thick, add a splash of water.

Remove from heat and stir in vanilla extract.

Let compote cool to room temperature before transferring to a jar or bowl. It will thicken slightly as it cools (about 20 minutes).