Property Overview
This one-and-a-half storey home at 549 Cherrier Street in Winnipeg's Dufresne neighbourhood presents a classic, no-frills opportunity. Built in 1944, it features 1,162 sqft of living space, an unrenovated basement, and a detached garage. Its standout characteristic is the generous 5,744 sqft lot, which ranks within the top 5-6% of properties in the immediate area, offering significant outdoor space that is rare for the locale.
The appeal lies in its potential and its land value. The home itself is functionally average for the street and neighbourhood in terms of size, age, and assessed value, but the lot size is a considerable asset. This property would suit a buyer looking for a solid starter home with room to grow, a hands-on owner willing to take on gradual updates, or an investor who recognizes the long-term value of a large parcel in an established community. It’s a practical choice for those who prioritize space and location over modern finishes.
Frequently Asked Questions
1. How does the property’s value compare to the rest of Winnipeg?
While its assessed value is above average for its own neighbourhood, it falls below the citywide average. This indicates you are purchasing in a more affordable area of Winnipeg, with the property itself being a strong contender within that specific market.
2. What does the "unrenovated basement" typically imply?
This usually means the basement is in original or functional condition, but may lack modern finishes, an updated layout, or recent waterproofing. It should be inspected to understand its potential for living space, storage, or future development.
3. The lot size is highlighted as elite for the area. Why is that important?
A lot size that ranks in the top 5% for the neighbourhood provides uncommon outdoor space for gardening, recreation, or future expansions like a larger garage, deck, or addition. It’s a fixed feature that can offer more privacy and flexibility than neighbouring properties.
4. The home was last sold in 2017. Should I be concerned?
Not necessarily. A sale seven years ago suggests the current owners have had a stable period of ownership. It’s a neutral point, but reviewing the sale history during your due diligence can provide context on market trends for the street.
5. What is the significance of the home being "around average" for the street on most metrics?
This can be a positive for resale value and financing, as the property is not an outlier. It fits comfortably within the existing fabric of the community, which often makes its value easier to appraise and its features more aligned with what future buyers in the area expect.