Property Overview: 55 Coralberry Avenue, Garden City, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic, single-storey home built in 1959, offering a practical and straightforward living space of 1,047 sq ft. Its key feature is a renovated basement, adding valuable finished square footage. The property stands on a notably generous 6,048 sq ft lot for its street and the wider city, offering above-average outdoor space—a significant asset in a mature neighbourhood. A detached garage provides additional storage or workshop potential.
The appeal here is grounded in value and potential. While the living area is modest compared to immediate neighbours, the renovated basement and large lot create a solid foundation. It suits first-time homebuyers seeking an entry point into a stable community, practical downsizers looking for a manageable single-level layout without sacrificing yard space, or value-oriented investors attracted by the lot size and the completed basement suite potential (subject to verification). It’s a home for those who see virtue in a well-located canvas, where the land itself is a primary asset and the interior has already seen key updates.
Section 2: Frequently Asked Questions
1. Is the living space too small compared to other homes on the street?
The living area is indeed below the average for Coralberry Avenue. However, this is balanced by the renovated basement, which adds functional space, and the lot size, which is larger than most on the street. It represents a trade-off: a more compact main floor for a larger property footprint.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. A key question for a viewer would be whether it is developed as a legal suite, a recreational space, or simply updated living quarters. This significantly impacts the home's utility and value.
3. How does the assessed value relate to the likely selling price?
The assessed value is a municipal tax valuation, not a market price. The recent sold price range (June 2024) suggests the market price is closely aligned with this assessment. It indicates a stable, predictable value in line with area norms.
4. What are the implications of a 1959 build date?
This is a mature home, typical for Garden City. While core systems may have been updated, a prospective buyer should prioritize inspections for age-related items like plumbing, electrical, and the foundation. The renovated basement should be scrutinized for proper permits and quality of work.
5. Why is the lot size highlighted as an advantage?
In established neighbourhoods, large lots are increasingly rare. This lot size offers more privacy, room for gardening, play, or expansion (like a deck or shed) than many newer properties. It future-proofs the property's value, as land is a appreciating asset that cannot be replicated.