Property Overview: 532 Cherrier Street, Winnipeg
Key Characteristics & Appeal
This 792 sqft, one-storey home on a 3,837 sqft lot presents a straightforward, no-frills ownership opportunity in Winnipeg’s Dufresne neighborhood. Built in 1946, it is notably newer than many homes on its street and in the immediate area. Its primary appeal lies in its position as an affordable entry point into the market, with an assessed value significantly below the citywide average. The lot size is generous for the locale, offering above-average outdoor space relative to its Cherrier Street neighbors.
The home would suit first-time buyers or practical investors seeking a low-cost footprint with potential. Its compact size and lack of a basement or garage mean lower maintenance costs and heating bills, appealing to those looking to minimize ongoing expenses. A thoughtful perspective is that this property represents a "blank canvas" within an established neighborhood—its value is anchored more in the land and location than in the current structure, making it a candidate for future renovation or redevelopment, subject to local regulations.
Frequently Asked Questions
1. Is this a small house?
Yes. At 792 sqft of living area, it is smaller than the average home in Dufresne and significantly smaller than the Winnipeg average. It is a compact, efficient layout.
2. Why is the assessed value so much lower than the city average?
The assessed value of $190k reflects the home's smaller size, simpler features (no garage, no basement), and its specific market area. It ranks well below average citywide, which is typical for modest, older homes in this price segment.
3. What are the implications of having no basement?
It means there is no below-ground storage or potential for a traditional basement suite. All mechanical systems, storage, and living space are on the main floor, which can simplify maintenance but reduces storage and potential income suite options.
4. The home sold for $200k in late 2021. Is the current assessed value accurate?
Assessed value is for municipal tax purposes and is not a direct indicator of market value. The 2021 sale price provides a recent market benchmark, but current market conditions would determine today's value.
5. Is the lot size a positive feature?
Yes. The lot is over 3,800 sqft, which is above average for Cherrier Street. This provides more private outdoor space than many neighboring properties and could be a long-term asset.