Property Overview: 96 Coral Reef Cove, Island Lakes, Winnipeg
Key Characteristics & Appeal
This is a well-established, single-storey home built in 1997, situated on a generous 7,504 sqft lot in the Island Lakes neighbourhood. With 1,514 sqft of living space and an attached garage, the property offers comfortable, ground-level living. Its appeal lies in its strong positional value: while the home itself is unrenovated and has a standard basement, it sits on a larger-than-average lot for the area and holds an assessed value that places it above average both within Island Lakes and citywide. This suggests a solid foundation in a desirable location.
The property would suit a practical buyer looking for a home in a mature, family-friendly neighbourhood. It’s ideal for someone who values space and potential over immediate turn-key finishes—a purchaser comfortable with a project, whether that means future renovations, landscaping, or simply enjoying the benefits of a larger yard. It also represents a strategic entry point into a sought-after area, where the value is anchored more in the land and location than in updated interiors.
Frequently Asked Questions
1. How does this home compare to others in the area?
The home’s living area is average for Coral Reef Cove and Island Lakes. Its standout features are the lot size, which is above average for the community, and its assessed value, which ranks in the top 20% within Island Lakes, indicating strong perceived value for the location.
2. What does "above average" assessed value mean for a buyer?
While it can indicate a desirable property, it primarily reflects the city’s valuation for tax purposes. It suggests the property is in a valuable location, but the sale price is determined by the market. This assessment could signal stability and good long-term value in the neighbourhood.
3. Is the larger lot a major advantage?
Yes. A lot of this size (7,504 sqft) in a mature neighbourhood like Island Lakes offers more privacy, space for gardens or recreation, and future potential that smaller, newer lots simply cannot match. It’s a feature that becomes increasingly rare.
4. Who might this "unrenovated" condition suit best?
It suits buyers who want to customize the home to their own taste and schedule, avoiding a premium paid for someone else’s renovations. It’s also a practical choice for those who prioritize location and lot size first and see the interior as a longer-term project.
5. How does the 1997 build year affect the home?
Homes from this era are modern enough to have good floor plans and infrastructure, but may soon require updates to major components like roofing, windows, or HVAC systems. A thorough inspection is advised to budget for upcoming lifecycle replacements.