Property Overview: 40 Cheema Drive, Winnipeg
Section 1: Key Characteristics & Appeal
This property at 40 Cheema Drive is a modern, above-average home in Winnipeg's North Inkster Industrial area. Built in 2024, it is one of the newest homes not just on its street but in the entire city, ranking in the top 1-2% for its year of construction. With 1,910 square feet of living space, it offers more room than most comparable homes locally and citywide, placing it comfortably within the top 20% for size.
Its assessed value of $589,000 is significantly higher than the citywide average, reflecting its new condition and desirable specs. The lot size of 4,241 sqft is generous for its immediate street but is more typical when compared to the broader neighbourhood and city.
The primary appeal lies in acquiring a like-new home with modern building standards, finishes, and systems, minimizing immediate repair or renovation concerns. It suits buyers looking for a move-in-ready, spacious property who value modern amenities and efficiency. A thoughtful perspective is that while the home is new, the lot size is relatively standard for the area, suggesting the value is heavily in the structure itself—ideal for those who prioritize interior space over extensive outdoor land.
Section 2: Frequently Asked Questions
1. How does this home’s value compare to what it last sold for?
The home sold in December 2023 for an estimated price between CA$650,000 and $700,000. Its current assessed value of $589,000 is below that sale range, which may reflect typical market adjustments or assessed value methodology.
2. Is the North Inkster Industrial area primarily residential?
Yes, this is a residential neighbourhood. The "Industrial" in its name is historical; the area is now a established community of homes, with many newer properties like this one.
3. What does the "Elite" ranking for year built mean practically?
It means you are buying one of the newest available homes. This typically translates to modern building codes, energy efficiency, contemporary floor plans, and the full lifespan of major components like the roof, HVAC, and appliances.
4. Why is there a difference between the sold price and the assessed value?
Assessed value is for municipal tax purposes and can differ from market value. The sold price reflects what a buyer was willing to pay in a past market. For the most accurate and verified sale history, you can request the exact figures via email from the site.
5. How does the lot size impact future potential?
At 4,241 sqft, the lot is above average for the street but not exceptionally large citywide. It provides good yard space but may have limitations for major expansions like a large addition or pool, depending on zoning bylaws. The focus here is on the home itself.