Property Overview
50 Coralberry Avenue is a spacious 4-level split home in Winnipeg's Garden City neighbourhood. Built in 1960, it stands out for its generous 1,766 sqft of living space, which ranks in the top 2% of homes on its street and the top 10% within Garden City. The property sits on a 6,048 sqft lot and features a renovated basement. Notably, it lacks a garage and a pool. Its assessed value is $38,300.
Key Characteristics & Appeal
The primary appeal of this home is its significant above-average living space for the area, offering room to grow without the footprint of a newer, sprawling property. The renovated basement adds modern, functional space. Its appeal is grounded in value and space rather than luxury finishes; it’s a practical home that has been maintained and updated where it counts.
It would suit buyers who prioritize interior square footage over amenities like a garage, such as growing families needing separate living areas or multi-generational households benefiting from the split-level layout. The lot size is also a strong asset for a mature neighbourhood, offering good outdoor space. A thoughtful perspective is that this home represents a "value hold" in its micro-market—it consistently performs well against immediate peers in key metrics like size and assessed value, suggesting a stable investment in a well-established community.
Frequently Asked Questions
1. How does the lack of a garage impact daily life and value?
While a garage is a common convenience, its absence is factored into the home’s value. For many buyers in mature neighbourhoods, a driveway for parking combined with the significant interior and basement space presents a fair trade-off. Adding a shed or carport is a common solution.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the quality of finishes, permits, and whether it’s developed as a living area, a rental suite, or simply a modernized utility and storage space.
3. The home sold in 2021 and again in 2017. Is that a concern?
The sales history shows turnover, but the sold price increased meaningfully between 2017 and 2021, indicating appreciating value. The reasons for sale are common and varied (life changes, relocation); the key focus should be on the home’s condition and how its value compares to the current market.
4. The assessed value seems low. What does that mean for property taxes?
The assessed value is for municipal tax purposes and is typically lower than market value. A $38,300 assessment generally translates to relatively lower property taxes compared to newer or more extensively renovated homes, which is a financial positive for the annual cost of ownership.
5. How does this home truly compare to others on the street?
The data shows it ranks exceptionally high for living area (1st of 55) and well for year built (4th of 55) on Coralberry Avenue. This means it is one of the largest and, relative to its neighbours, slightly newer homes on the street, giving it a competitive edge in its immediate location.