Property Overview: 233 Cherrywood Road, Bridgwater Trails
Key Characteristics & Appeal
This two-storey home in the popular Bridgwater Trails neighbourhood offers a compelling blend of modern living and established value. Built in 2020, it is a relatively new home that requires no major updates, situated on a generous 5,241 sqft lot. With 2,358 sqft of living space, an attached garage, and an undeveloped basement, it provides ample room for a growing family or those who appreciate spacious layouts.
The primary appeal lies in its strong market position and proven investment quality. The home ranks in the top 15-20% of its immediate street and neighbourhood for both lot size and living area. Notably, its sold price in July 2024 ($75.30k) places it in the top 2% of recent sales on its street and top 3% across Winnipeg, indicating a highly desirable property that has appreciated significantly from its 2020 purchase price. This isn't just a new house; it's a home in a mature phase of a sought-after community, offering the perks of a modern build without the initial development phase uncertainties.
This property would perfectly suit young families or professionals looking for a move-in ready home in a stable, newer suburb. It’s also ideal for value-conscious buyers who appreciate data-driven reassurance—the strong rankings and clear value growth provide a sense of security. The unfinished basement presents a valuable blank canvas for future customization, adding to its long-term suitability.
Frequently Asked Questions
1. How does the assessed value compare to the recent sale price?
The 2024 assessed value is $65.40k, while the home sold for $75.30k in July 2024. This difference is common, as assessed values for taxation purposes often lag behind current, competitive market prices, which are reflected in the actual sale.
2. What does the "unfinished basement" entail?
The basement is included but has not been renovated. It presents a significant opportunity for future expansion and customization, such as adding a rec room, home office, or additional bedrooms, tailored to a new owner's needs.
3. The home sold for $50.20k in 2020 and $75.30k in 2024. Does this indicate strong appreciation?
Yes. This represents substantial appreciation over four years. It suggests the property and the Bridgwater Trails area have held and increased their market value very effectively, a positive indicator for future equity.
4. How does this home compare to others in Bridgwater Trails?
The rankings show it performs very well within its own neighbourhood. It sits in the top 15% for living area and top 20% for assessed value among over 1,200 properties, indicating it is larger and more valuable than the majority of homes in the area.
5. Is the lot size typical for the area?
At 5,241 sqft, the lot is larger than 83% of those on its street and 63% in the wider neighbourhood. This means you're getting more outdoor space than is typical for this community, which is often characterized by newer, denser subdivisions.