Property Overview: 525 Cherrier Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1910, offers a blend of historic charm and practical updates. Its key appeal lies in its above-average living space (1,586 sq ft) and a recently renovated basement, providing more functional room than most comparable homes in the Dufresne area and on Cherrier Street itself. The property includes a detached garage and sits on a standard city lot.
The home’s standout feature is its value proposition. With an assessed value significantly above the local street and neighborhood averages, it positions itself as a substantial property within its immediate community, though it aligns more with the city-wide average. This suggests a solid investment in a well-established area. It would particularly suit buyers looking for a character home with updated essentials, who value space over a modern build date, and who appreciate a property that stands out in its local market for its size and perceived value.
A thoughtful perspective: its 1910 construction means it predates most homes nearby, offering unique architectural details but also implying a need for diligent maintenance. Its above-average assessment in the neighborhood could be a double-edged sword, indicating desirability but also resulting in a proportionally higher property tax burden.
Section 2: Frequently Asked Questions
1. How does the age of the home (1910) affect it?
While it offers classic character, a home of this age requires a thorough inspection. Key systems like plumbing, electrical, and the foundation may have been updated, but their age and condition should be verified. It is notably older than most homes on the street and in Winnipeg overall.
2. Is the assessed value a good indicator of the sale price?
Not directly. The assessed value of $35,500 is for municipal tax purposes. The last known sale was in 2020 for $28,500. Market conditions, the home’s updated condition, and buyer demand will determine the final sale price.
3. What does "above average" for living area actually mean?
The home’s living space is in the top 12% on its street and top 9% in the Dufresne area compared to similar property types. Simply put, it offers more interior space than the vast majority of direct local comparisons.
4. What are the implications of the lot size?
At 3,423 sq ft, the lot is typical for Cherrier Street and Dufresne, but below the Winnipeg city average. This means yard space is standard for the neighborhood but may be smaller than in newer suburban areas. The detached garage utilizes a portion of this space.
5. The basement is noted as renovated. What should I ask about this?
It’s important to ask for details on the renovation: when it was done, whether permits were pulled, the quality of finishes, and its intended use (e.g., living space, utility, rental suite). Also confirm the basement’s ceiling height and moisture control measures.