Property Overview: 510 Cherrier Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Dufresne presents a straightforward, grounded opportunity. Built in 1928, its 972 sqft living space and unrenovated basement reflect a home that has been lived in, not modernized. Its key appeal lies in its position as a relatively affordable entry point into the Winnipeg market, with a recent sale price well below the city-wide average. The detached garage and a land area that is above average for its immediate street are practical assets.
The property suits buyers looking for a functional starter home or a long-term hold with renovation potential. Its value is contextual: while its size and assessed value sit below city-wide averages, they are typical for the Dufresne neighbourhood. This makes it a candidate for someone prioritizing location and lot size over turn-key condition, who is comfortable with a property that may require updates over time. A less obvious perspective is that its "around average" standing within its own community could signal stability and predictability, rather than outlier risk, for a buyer invested in that specific area.
Section 2: Frequently Asked Questions
1. What does "unrenovated basement" typically mean?
It indicates the basement remains in a basic, functional state, likely with original finishes. Buyers should budget for potential updates to insulation, moisture management, or living space finishes if modernizing is desired.
2. How significant is the difference between the assessed value and the recent sale price?
The assessed value is for municipal tax purposes, while the sale price reflects the market. The notable difference here suggests the market valued the home significantly higher, which is common but important to understand for property tax and future valuation expectations.
3. Is the land size a major advantage?
At 3,425 sqft, the lot is above average for Cherrier Street. This offers more outdoor space than immediate neighbours, which could be valuable for gardening, expansion, or simply having more privacy.
4. The home ranks "below average" city-wide in several metrics. Should that be a concern?
Not necessarily, if you're focused on the local area. This is characteristic of many established, older neighbourhoods where homes are smaller and on smaller lots compared to newer suburbs. The key comparison is to similar homes in Dufresne, where it ranks as average.
5. What can the 1928 build date tell me?
It confirms the home is part of Winnipeg's older housing stock. This often means solid construction but also implies that core systems (like plumbing, electrical, or the foundation) may be older and should be carefully inspected for condition and compliance with modern standards.