47 Coral Crescent – Property Summary
Key Characteristics & Buyer Profile
This is a 1,031 sqft home built in 1959 on a 6,377 sqft lot in Windsor Park. Its standout feature is the lot size: ranked in the top 24% citywide and top 24% within the neighbourhood, meaning the yard is significantly larger than most comparable properties in Winnipeg. The year built is also noteworthy—it’s the oldest home on Coral Crescent (ranked #1 out of 50), which may appeal to buyers who appreciate a well-established structure in a street of slightly newer builds.
Where the property falls short is living space and assessed value. The 1,031 sqft is below average for the street, the neighbourhood, and the city. The assessed value of $312k is the lowest on Coral Crescent and well below the neighbourhood average of $354k. For context, the street average is $370k. This price gap reflects the smaller footprint and likely some deferred updates, but it also positions the home as a potentially more affordable entry point into a street where values are generally higher.
The appeal here is land and location within an older, established neighbourhood. It would suit a buyer who values outdoor space and is willing to accept a compact interior—perhaps a downsizer, a first-time buyer looking to build equity through renovations, or someone who wants room for gardens, a workshop, or future expansion. It is less suited to anyone needing generous square footage or a move-in-ready, updated interior without additional investment.
Five Possible FAQs
1. Why is the assessed value so much lower than the street average when the lot is larger?
Assessed value balances living area, condition, and lot size. This home’s 1,031 sqft living area is below the street average of 1,117 sqft, and its value ranking suggests it may not have had recent major updates. The land contributes, but not enough to offset the smaller house size relative to neighbours.
2. Is the larger lot usable for additions or a garage?
At 6,377 sqft, the lot is above average for the neighbourhood and city. Whether an addition is feasible depends on zoning setbacks and permits. Windsor Park is a mature area with established lot lines, so buyers should check with the city before assuming expansion options—but the space itself is there.
3. How does the 1959 build compare to newer homes in terms of maintenance?
Homes from this era often have solid framing and mature trees, but may need updated wiring, plumbing, insulation, and windows. Being the oldest home on the street suggests it may retain original features that require attention. A thorough inspection is wise, particularly for foundation and roof condition.
4. Could this property be a good investment for a flip or rental?
Possibly, but the value gap to the street average ($312k vs $370k) suggests there is room to add value through renovations. However, the below-average living area limits resale upside unless you can expand. As a rental, the lower purchase price could mean better cash flow, but the compact size may appeal to a narrower tenant pool.
5. How does Coral Crescent compare to the rest of Windsor Park?
Coral Crescent is a street with generally higher values than the neighbourhood average—the street average assessed value is $370k vs the neighbourhood’s $354k. This home, however, is the lowest-valued property on the street. That means you get the neighbourhood’s character and street prestige at a discount, but you’re buying into a street where most homes are more expensive.