Property Overview
228 Cherrywood Road is a modern two-storey home in the Bridgwater Trails neighbourhood, built in 2018. Its primary appeal lies in being a relatively new build in a popular suburban community, offering a move-in-ready canvas without the concerns of an aging structure. The home sits on a generous 4,821 sqft lot, providing ample outdoor space—a notable feature in newer subdivisions. However, the living area (1,492 sqft) is on the more compact side for a two-storey, ranking in the lower third for its immediate street and neighbourhood. It has an unfinished basement, offering potential for future customization, but lacks a garage.
This property would suit first-time buyers or young families seeking a modern home in a well-regarded area without a premium price tag. It’s ideal for buyers who prioritize a newer build and a large yard over immediate square footage or finished amenities like a garage or basement. The unfinished basement is a key project for a buyer looking to add value and tailor the space to their needs over time.
Key Considerations & FAQs
1. What are the main trade-offs with this property?
You are getting a modern, low-maintenance home built in 2018 on a large lot, but the interior living space is compact and it lacks a garage. The value proposition is in the land, the newness of the build, and the potential of the unfinished basement, rather than in current finished square footage or premium features.
2. How does the assessed value compare to its last sale price?
The home was last sold in July 2022 for $53.50k. Its current assessed value is $45.10k. It’s important to discuss this with your real estate agent to understand current market dynamics and how assessment values relate to listing and sale prices in the area.
3. Is the lack of a garage a significant issue?
This depends on lifestyle and future plans. For some, it’s a major drawback for vehicle protection and storage. For others, the large lot presents an opportunity to add a detached garage or shed later, subject to local bylaws and budgets.
4. The rankings show it’s “better than” 95% of Winnipeg for year built, but lower for size and value on its street. What does this mean?
This highlights the character of Bridgwater Trails: a modern neighbourhood (explaining the high city-wide rank for newness) with relatively high standards for home size and value. This home is newer than most in Winnipeg, but is among the more modest properties on its own street.
5. What is the potential here for future resale?
The upside lies in the unfinished basement and the large lot. A buyer who finishes the basement adds significant liveable space, which would likely improve its standing in neighbourhood comparisons. The lot size is a permanent asset that remains attractive.