Property Overview: 537 Cherrier Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic, two-storey home built in 1913, offering a grounded opportunity in Winnipeg’s Dufresne neighborhood. With 960 sqft of living space and a detached garage, it presents a manageable scale for a first home, downsizer, or hands-on buyer. Its appeal lies in its position as a straightforward, no-frills property in a long-established area. The lot is a practical size at 3,423 sqft, and the home’s assessed value is notably accessible compared to the city-wide average.
The data suggests it’s a property that fits comfortably within its immediate context—ranking around average for size, value, and age among its neighbors on Cherrier Street. This indicates a chance to enter a stable, unpretentious streetscape. The basement is noted as unrenovated, which, while a project for some, represents a clear slate for future customization. This home would suit a pragmatic buyer looking for character of era without the premium of a fully updated or larger modern home, or an investor seeking a rental property with established fundamentals. Its value proposition is one of simplicity and potential rather than immediate turn-key luxury.
Section 2: Frequently Asked Questions
1. Is this a "fixer-upper"?
The home is over a century old and the basement is specifically noted as not renovated. Buyers should anticipate typical maintenance and update projects associated with a house of this age, while the main living areas may be functional as-is.
2. How does the assessed value compare to the likely sale price?
The home was last sold in 2017 for $21,200 and is currently assessed at $21,700. In Winnipeg’s market, sale prices often differ from assessed values. This historical sale price provides a concrete recent benchmark, but the current market conditions will ultimately determine the sale price.
3. What does the ranking data actually mean for a buyer?
The rankings show this property is very typical for its specific street and neighborhood in terms of size, value, and age. This can be reassuring, indicating you’re buying into a consistent area without overpaying for the locale, but it also means the home doesn’t stand out as larger or newer than its direct peers.
4. What is the potential here?
The primary potential lies in the unrenovated basement, which allows for customization. The lot size is also decent for the neighborhood. The long-term potential is tied to the gradual evolution of the established Dufresne area.
5. Are there any obvious concerns?
The age of the home (1913) requires careful attention to foundational, electrical, and plumbing systems during an inspection. The detached garage may also be older and require evaluation. The "below average" city-wide rankings for size and value simply reflect that it’s a more modest home compared to the broader Winnipeg average, not necessarily a flaw.