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The Perrenoud Homestead includes two residences situated on 4.5 hectares (11.1 acres) of land just north of Cochrane. The early 1890s log farmhouse with 1902 extension sits adjacent to a large, 1910 home featuring a hipped roof, verandah wrapping around two sides, and south-facing bay windows. The site also features a blacksmith shop, granaries, a sawmill, and a cattle chute.
The heritage value of the Perrenoud Homestead lies in its association with early ranching operations in southern Alberta and in its juxtaposition of an original log farmhouse with the more comfortable family home that replaced it.