Property Overview: 76 Coral Reef Cove, Island Lakes, Winnipeg
Key Characteristics & Appeal
This home is a study in above-average fundamentals within a well-established neighborhood. Built in 1998, it offers a renovated basement and an attached garage on a notably large lot of nearly 10,000 sqft—a standout feature that places it in the top 10% of lots on its street and in the Island Lakes area. With 1,564 sqft of living space, the interior size is comfortably above the Winnipeg city average, providing ample room without the upkeep of a maximized footprint.
The primary appeal lies in its combination of space, land, and a modernized lower level, all backed by strong value metrics. Its assessed value ranks in the elite tier for Island Lakes (top 4%), suggesting a perception of quality and desirability that outpaces many direct neighbors. This isn't the newest or the largest home on the block, but it represents a solid, mature property with premium lot size and a refreshed interior space.
This property would suit practical buyers looking for a long-term family home in a settled community, who value private outdoor space over a brand-new build. It’s also a sensible match for value-conscious purchasers who recognize the advantage of a high assessment relative to area averages, indicating a strong foundation for future equity.
Frequently Asked Questions
1. How does the lot size compare to typical Winnipeg homes?
The land area of 9,862 sqft is significantly larger than the Winnipeg city average of approximately 6,570 sqft, placing it in the top 6% city-wide. This is one of the home's most distinguishing features.
2. What does the "Elite" assessed value ranking mean for Island Lakes?
A ranking in the top 4% for assessed value in Island Lakes indicates that municipal assessment views this property as among the most valuable in the entire neighborhood, often reflecting factors like lot size, improvements, and general desirability.
3. Is the living space considered large for the area?
At 1,564 sqft, the living area is slightly below the current average for similar homes on Coral Reef Cove but remains above the overall city average. It offers a balanced size that is manageable for maintenance.
4. Can I get the exact historical sale price?
The listed sale price ranges are based on public data. The exact sold price is available by request via email from the listing service, which they provide manually without using your email for marketing.
5. The home was built in 1998. What should I consider?
Homes from this era are modern enough to avoid some major older-home concerns but are now entering a period where original components (like roofing, major appliances, or windows) may need evaluation or planned replacement. The renovated basement is a positive update.