Property Overview: 11 Coral Reef Cove, Island Lakes, Winnipeg
Key Characteristics & Buyer Profile
This home at 11 Coral Reef Cove is a well-situated, late-90s cabover with a renovated basement and an attached garage. Its key appeal lies in its balance and established location. At 1,574 sqft, the living space is comfortably above the Winnipeg city-wide average, offering more room than many homes, while feeling consistent with the Island Lakes neighbourhood. The lot, at just over 5,400 sqft, is slightly more compact than others on its street, which may translate to less yard maintenance. A significant feature is the renovated basement, adding immediate functional living space without the need for a project.
The home’s assessed value positions it as a strong value within the wider city context, ranking in the top 18% city-wide. This suggests a property that offers more for its municipal valuation compared to many others in Winnipeg. It would suit practical buyers looking for a move-in-ready home in a mature, family-friendly neighbourhood like Island Lakes, particularly those who prioritize updated interiors and efficient space over a very large yard. It’s a sensible choice for someone seeking a home that performs well on broader city metrics without being the largest or most expensive on its block.
Frequently Asked Questions
1. How does the lot size compare?
The land area of 5,412 sqft is below the average for Coral Reef Cove itself but is very close to the average for the entire City of Winnipeg. This indicates a manageable yard that is typical for many urban homes.
2. What does the "above average city-wide" ranking mean for value?
The home ranks in the top 27% for living area and top 18% for assessed value compared to all Winnipeg homes. This generally indicates you get more space and a higher municipal assessment relative to most of the market, which can be a positive indicator of underlying value.
3. Is the basement renovation reflected in the assessed value?
While a renovated basement adds significant functional value and appeal for living, municipal assessed values are based on broader mass appraisal techniques and may not capture the full market value of recent interior upgrades.
4. What is the significance of the home being built in 1998?
Built 28 years ago, the home is newer than over 80% of properties in Winnipeg. In a neighbourhood like Island Lakes, it sits right around the average age, meaning major components like the roof, windows, and HVAC systems are likely within a standard window for inspection, update, or replacement.
5. How can I get the exact historical sold price?
The exact sold price is not publicly listed. The provided range is an estimate based on available data. You can request the precise figure by emailing the listing service; they provide this detail manually without using your email for unsolicited marketing.