Property Overview
This is a 1,048 sqft condo unit at 4-524 Cherrier Street in Winnipeg's Dufresne neighbourhood. Built in 2018, it is a relatively modern property with a basement (not renovated). Its key appeal lies in its balance of space, age, and value. The living area is notably above average for its immediate area, ranking in the top 25% of comparable homes on its street. While its assessed value is around the median locally, the modern build year (top 8% city-wide) means major components like roofing, windows, and mechanical systems are likely in good condition, offering a practical advantage over older stock. The property last sold in January 2019 for $250,000.
It would suit a first-time buyer or downsizer seeking a low-maintenance, modern home without sacrificing square footage. It’s also a sensible fit for a value-conscious buyer who prioritizes the functional benefits of a newer build (potential for lower repair costs) over a fully renovated or high-end finish.
Key Questions for Consideration
1. What are the monthly condo fees, and what do they cover?
This is the most critical financial question for any condo purchase, as fees impact affordability and cover shared expenses like building insurance, grounds maintenance, and reserve fund contributions.
2. Is the basement developed, and what is its condition/access?
The listing notes a basement that is "not renovated." Understanding its current state—whether it's unfinished storage, a rough-in for future living space, or requires remediation—is key to evaluating the home's utility and potential.
3. How does the 2019 sale price relate to current value?
The last sale at $250,000 provides a historical benchmark. Understanding current market conditions and recent comparable sales in Dufresne will be essential to determining a fair present-day offer price.
4. What is the makeup of the condo corporation's reserve fund?
For a building from 2018, the reserve fund should be relatively young but growing. A healthy fund is a sign of good long-term management and can prevent special assessments for major repairs.
5. What is the parking situation?
The details do not specify parking. Clarifying whether the unit includes a dedicated garage, surface spot, or relies on street parking is important for daily convenience and resale value.