10 Coleridge Park Drive — Property Summary

Key Characteristics & Buyer Profile

This is a 1,140-square-foot home built in 1972, sitting on an unusually large 13,650-square-foot lot. The property’s standout feature is the land. Within the neighbourhood of Westwood, it ranks in the top 2% for lot size, and city-wide it sits in the top 3%. For context, the average land area on the same street is just over 9,000 square feet, and the neighbourhood average is roughly 6,500 square feet. That’s a meaningful difference—this property offers rare outdoor space relative to surrounding homes.

The living area is below average for Coleridge Park Drive but roughly in line with city-wide norms. The assessed value of $610,000 is elevated, ranking in the top 7% city-wide and top 3% within Westwood, where the average assessed value is around $392,000. This suggests the value is heavily weighted toward the lot rather than the house itself. The home is not new or large by current standards, but the land gives it flexibility—whether for expansion, redevelopment, or simply enjoying a bigger yard.

This property would suit:

• A buyer who values outdoor space and wants a large, private lot in an established neighbourhood.
• Someone open to renovating or rebuilding, given the house is modest in size and from 1972.
• A buyer looking for a property that may appreciate differently than typical homes in the area, because land in short supply tends to hold value.

A less obvious consideration: the assessed value being far above the neighbourhood average, despite the house being relatively small, could signal that the market already prices in the land’s potential. That doesn’t mean it’s overvalued—but it does mean the “bargain” aspect of a fixer-upper on a big lot may already be priced in.

Frequently Asked Questions

1. How does the living area compare to other homes nearby?
The 1,140 square feet is below the street average of 1,990 sqft and below the Westwood average of 1,372 sqft. However, it’s close to the city-wide average for comparable homes (1,342 sqft). It’s a smaller home by local standards, but not unusually small for Winnipeg as a whole.

2. Is the assessed value of $610,000 reasonable for this property?
It depends on what you’re comparing. The street average is $580,400, so it’s slightly above that. But the neighbourhood average is only $392,100. The high assessed value seems driven by the land—this lot ranks in the top 3% city-wide. If you’re buying for the house alone, the value may seem high; if you’re buying for the land, it’s more aligned with what large lots command.

3. What is the lot size, and how does it compare?
The lot is 13,650 square feet—well above the street average of 9,143 sqft and more than double the Westwood average of 6,491 sqft. City-wide, it ranks in the top 3%. This is a genuinely oversized lot for the area.

4. When was the house built, and is it considered old or dated?
Built in 1972, which is around average for the street (also 1972) and slightly newer than the neighbourhood and city averages (both 1966). It’s not particularly old for Winnipeg, but a 50+ year old home typically needs updates unless they’ve been done recently.

5. Is this property a good candidate for redevelopment or a tear-down?
The land is the primary asset here. At over 13,600 square feet, the lot is large enough to consider expansion, an infill build, or even subdivision (subject to zoning). But the assessed value already reflects that potential, so you’d be paying a premium for the land upfront. It’s worth checking zoning and development restrictions before assuming it’s a straightforward project.