Property Overview: 268 Cherrywood Road, Bridgwater Trails

Key Characteristics & Appeal

This 2018-built, two-storey home in the Bridgwater Trails neighbourhood offers modern living with a renovated basement. Its key appeal lies in being a relatively newer construction (newer than 95% of Winnipeg homes) within a popular suburban community, requiring less immediate upkeep than older properties. With 1,648 sqft of living space and a 4,000 sqft lot, it provides a balanced footprint for a small family or couple.

The home’s standout characteristic is its significant value proposition. The current assessed value ($56.80k) ranks highly city-wide (top 10%), yet the last sold price in 2020 was $460k. This substantial gap suggests strong potential equity or a unique valuation scenario, making it a point of interest for buyers focused on long-term value and assessment appeal opportunities. The property suits first-time buyers or downsizers seeking a modern, low-maintenance home in a developed neighbourhood, and it may particularly attract those with an eye for properties where the official assessment appears disconnected from the market, presenting a strategic opportunity.

Frequently Asked Questions

1. Why is there such a large difference between the assessed value and the last sold price?
This is a key point to investigate. Such a gap can occur due to assessment methodology, significant changes to the property post-assessment, or market shifts. It’s essential to review the assessment details and recent comparable sales with your realtor to understand the current market value.

2. What does having a "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. It’s crucial to ask for details on the renovation’s quality, permits, and the nature of the finished space (e.g., recreational room, additional bedroom) to gauge its utility and value.

3. The home has no garage. Is there dedicated parking?
With no garage listed, verifying the parking situation is important. Inquire about driveway capacity, visitor parking availability, and any neighbourhood bylaws regarding on-street parking to ensure it meets your needs.

4. How does this property rank within its own street?
The data shows a mixed street ranking: it's in the top 45% for building age but only the top 67% for living area and the top 94% for its last sold price (meaning it sold for less than most neighbours in 2020). This indicates a varied street with diverse property values, worth exploring to understand the specific street dynamic.

5. What are the property taxes likely to be based on the assessed value?
Property taxes are calculated using the assessed value and the municipal mill rate. While the assessed value is listed at $56.80k, confirming the most recent tax bill is vital, as it reflects the actual annual cost and may be based on a different valuation.