54 Coleridge Park Drive: Property Summary
Key Characteristics & Buyer Profile
This is a 2,127 sqft home built in 1970 on a 5,105 sqft lot in Westwood, Winnipeg. Its defining feature is value relative to its immediate surroundings. While it is an average home on its own street in terms of size and assessed value, it ranks in the top 3–4% across the broader Westwood neighbourhood for both assessed value ($601K) and living area. This means the house is a clear standout compared to the smaller, lower-valued homes typical of the area.
The appeal lies in buying a property that feels like a modest, standard-size home on a street with other larger homes, but which is actually an upscale option within the larger Westwood context. The lot is compact—among the smallest on the street (Top 98%) and in the neighbourhood (Top 97%)—which may be a drawback for someone wanting a large yard, but also means less exterior maintenance and a lower entry point into this otherwise more expensive street.
This property suits a buyer who wants a solidly built, older home (1970) with above-average living space, in a neighbourhood where their dollar goes further than in newer subdivisions. It’s ideal for someone who values indoor square footage over land, and who is comfortable owning a home that is a top-tier asset in its immediate area but not a standout citywide. It would also appeal to an investor or homeowner looking for a property with strong local comparative value that could benefit from cosmetic updates in a well-regarded neighbourhood.
Frequently Asked Questions
1. How does the assessed value compare to the city average, and what does that mean for property taxes?
The home’s assessed value of $601K is well above the citywide average of $390K (Top 8%), meaning property taxes will be higher than for a typical Winnipeg home. However, it is only average for its own street (Top 44%), so the tax burden is consistent with immediate neighbours, not unusually high for this pocket.
2. The lot is small (5,105 sqft). Does that affect resale value or limit future renovations?
The lot is notably smaller than both the street and neighbourhood average. This could limit major additions or a large garage, but it’s not unusual for older, established areas—many homes in Westwood sit on smaller lots. Resale may be slower if buyers prioritize land, but the home’s strong interior size helps offset this. Check local zoning for any restrictions on additions or secondary suites.
3. What does “Top 4% in the neighbourhood” really mean in terms of daily living?
You’ll likely be living on a street with homes that are, on average, larger and more expensive than the rest of Westwood. Your house is a strong fit for that street, not an outlier. In the broader neighbourhood, you’ll own one of the larger, higher-valued homes, which can translate into quieter streets, better curb appeal, and potentially stronger long-term appreciation compared to smaller-area homes nearby.
4. How does the 1970 build year compare to other homes in the area, and what should I expect maintenance-wise?
This home is slightly older than the street average (1972) but newer than the neighbourhood average (1966). It’s not a historic property, but a 1970 home will likely need updates to major systems (roof, HVAC, windows, plumbing) if not already done. The good news: it’s from a stable building era, and its strong ranking suggests it was well maintained relative to its peers.
5. Why is the home ranked “elite” in Westwood but only “above average” citywide?
Westwood is a diverse neighbourhood with a wide mix of home sizes and values. This house outperforms most of its immediate neighbours locally, but citywide, there are many more expensive homes in pricier areas like River Heights or newer suburbs. It’s a relative measure: you’re getting top-tier value in your area without paying top-tier citywide prices.