Property Overview: 493 Cherrier Street, Winnipeg
Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1922, presents a unique profile defined by its exceptional land size. With a living area of 792 sqft, the house itself is modest and typical for its neighbourhood, but it sits on a remarkably large, elite-sized lot of over 13,500 sqft—ranking in the top 3% locally and citywide. This creates a compelling dynamic: a smaller, vintage home on a parcel of land with substantial potential. The property includes a detached garage and an unrenovated basement.
The primary appeal lies in this land-to-building ratio. It’s a canvas for a buyer with vision, offering rare space for expansion, extensive gardening, outdoor recreation, or future development (subject to zoning). The assessed value is strong for the immediate area, suggesting the lot premium is already recognized. This home would best suit a hands-on buyer, an investor, or a family prioritizing outdoor space over immediate square footage. It’s for those who see value in the long-term asset of the land and are comfortable with a home that may require updates over time.
Frequently Asked Questions
1. Is the large lot usable, or is it an odd shape?
While specific dimensions aren’t provided, a lot of this size (over 1/3 of an acre) in a city neighbourhood is highly unusual. It’s advisable to review the survey and zoning bylaws to understand buildable areas, setbacks, and any potential restrictions.
2. What does “one-and-three-quarter storey” mean for living space?
This style typically features a full main floor and a second floor where the roofline slopes into the rooms, creating cozy, character-filled bedrooms with potentially reduced ceiling height in certain areas. It’s a classic Winnipeg design.
3. The assessed value seems high for the home’s size and age. Why?
The assessment reflects both the structure and the land value. In this case, the premium is almost certainly due to the exceptionally large lot size, which is a significant financial asset.
4. What are the implications of an unrenovated basement?
It offers functional space for utilities and storage but will likely require addressing moisture protection, insulation, and finishing to become comfortable living space. It represents both a project and an opportunity to customize.
5. How does the living area compare to a typical home?
At 792 sqft, the house is compact. It’s around average for older homes on its street and in Dufresne, but below the citywide average. This emphasizes a lifestyle choice: efficient indoor living paired with expansive outdoor space.