Property Overview: 552 Borebank Street, Central River Heights
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Central River Heights sits on a generous 6,000 sqft lot, which is notably larger than most in the immediate area and neighbourhood. Built in 1953, the home features a renovated basement and a detached garage. With 1,194 sqft of living space, it offers a comfortable footprint that is typical for the street and city.
The primary appeal lies in its land value and location. The lot size is a standout feature, offering above-average outdoor space and potential in a mature, sought-after neighbourhood. The home’s recent sale price history and assessed value position it as a solid, mid-range property for the area, suggesting it’s a grounded investment rather than a premium-priced listing. It would suit practical buyers looking for a character home in a central neighbourhood, who value space for gardens, play, or future expansion over a brand-new build. It’s also a sensible option for those who appreciate the established feel of River Heights but are mindful of value, as the metrics indicate you’re paying more for the land and location than for an exceptionally large or modern house.
Section 2: Frequently Asked Questions
1. How does the lot size compare practically?
At 6,000 sqft, the lot is in the top 17% on its own street and top 22% in Central River Heights. This means you have significantly more yard space than many neighbouring properties, which is a rare find in mature neighbourhoods.
2. Is the renovated basement finished?
The listing confirms the basement is renovated but does not specify if it is a legal suite or simply a finished living space. This would be a key point to clarify with the seller or agent.
3. What does the "around average" ranking for Year Built mean?
Built in 1953, the home is slightly newer than the average on its street (1947) but typical for Winnipeg overall. Expect the charm and potential maintenance considerations of a mid-century home, not a recent build.
4. The assessed value seems low compared to the sale price. Why?
Municipal assessed value (listed as $43.90k) is for taxation purposes and is notoriously lower than market value. The home last sold for $380k in 2021, which is a more relevant indicator of its market worth.
5. Who are the most likely neighbours or comparable buyers?
Given its metrics, this home likely appeals to young families seeking space in a good school district, downsizers wanting a manageable one-storey layout with a nice yard, or value-conscious investors attracted to the lot size and neighbourhood stability.