Property Overview: 188 Cheema Drive, Winnipeg
Section 1: Key Characteristics & Appeal
This 2023-built home in North Inkster Industrial presents a distinct value proposition centered on new construction and land size. Its key characteristic is a significant 6,071 sqft lot, which is exceptionally large for its immediate street and area, ranking in the top 2% and 10% respectively. This offers rare potential for outdoor space, expansion, or landscaping in a newer community.
The appeal lies in a balance of modern infrastructure and a competitively positioned assessed value of $458,000. While the living area (1,245 sqft) is modest compared to newer neighbours, the home is essentially brand-new, likely requiring minimal immediate maintenance or updates. Its city-wide assessed value ranks above average (top 27%), suggesting a solid foundation of equity.
This property would best suit pragmatic buyers who prioritize a newer build on a generous lot over interior square footage. It’s a fit for those wanting to avoid the surprises of an older home, or for investors/owners who see long-term value in the land itself. A thoughtful perspective is that the smaller living area on a large lot could be a strategic canvas for a future addition, making it a potential entry point into a newer area with room to grow.
Section 2: Frequently Asked Questions
1. Is the living area sufficient for a family?
The 1,245 sqft living area is below the current average for both the street and the North Inkster Industrial area. It would suit a smaller family, a couple, or a buyer comfortable with efficient, modern layouts rather than expansive room sizes.
2. How does the assessed value compare to the last sale price?
The property last sold in September 2023 for an estimated $400k-$450k. The current $458k assessed value is slightly above that range, indicating stable or slightly appreciating value in line with broader city trends.
3. What are the implications of the "Industrial" area name?
North Inkster Industrial is a residential community within a larger industrially-zoned district. Buyers should investigate typical sounds, traffic, and future development plans for surrounding commercial/industrial lands to ensure it aligns with their lifestyle expectations.
4. Why is the lot size considered a standout feature?
With 6,071 sqft, the lot is dramatically larger than most on Cheema Drive (where it ranks #1 of 64) and in the immediate area. This provides a notable amount of private outdoor space uncommon in newer subdivisions.
5. What does the "Elite" ranking for year built mean?
Built in 2023, the home is among the newest 1% of homes city-wide and the newest 4% in its local area. This translates to modern building codes, materials, and systems, potentially leading to lower upkeep costs and higher energy efficiency in the near term.