Property Overview
This two-storey home at 172 Cheema Drive is a modern, low-maintenance property built in 2023. Its appeal lies in its balance of new construction benefits and established neighbourhood growth. With 1,615 sqft of living space, an attached garage, and a full (though unfinished) basement, it offers a practical layout for modern living. The lot size of nearly 3,000 sqft is competitive for newer developments.
The home suits first-time buyers or young families seeking a move-in-ready property without immediate renovation concerns. Its strong rankings—being newer than 99% of Winnipeg homes and in the top third of its street for lot size—suggest it’s a solid, above-average offering in the North Inkster Industrial area. A thoughtful perspective is that buying a home just a few years old allows you to benefit from the initial owner navigating new-build quirks, while still enjoying the bulk of the builder’s warranty period. The significant gap between the 2023 sale price and the current assessed value is a key point for buyers to discuss with their agent to understand local market dynamics.
Frequently Asked Questions
1. Is the basement finished?
No, the basement is included but is not renovated. This provides a blank canvas for future expansion, adding potential value down the line.
2. How does this home compare to others on the street?
The data shows it ranks highly for its newer age (top 13% on the street) and is above average for lot size (top 31%). Its living area is comfortably in the middle range for the street.
3. What does the "North Inkster Industrial" neighbourhood mean for daily living?
This designation typically indicates a mixed-use area with residential streets alongside light industrial or commercial properties. It can offer convenient access to services and potentially more affordable pricing, but it's wise to visit at different times to gauge traffic and ambient activity.
4. Why is the assessed value significantly lower than the last sale price?
The home was assessed at $42,200, while it last sold for $470,000 in 2023. This is normal, as municipal property assessments in Manitoba are not intended to reflect market value but are used for tax calculation. Market value is determined by recent sales of comparable homes.
5. What are the typical buyers for a property like this?
This home is well-suited for pragmatic buyers who want modern construction without a premium custom-build price. It’s ideal for those who prioritize a move-in-ready condition, energy efficiency of a newer build, and the opportunity to customize the basement space over time.