Property Overview: 651 Borebank Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Central River Heights is defined by its generous 6,000 sqft lot, which is notably larger than most in the immediate area and neighbourhood. Built in 1953, the house itself is a compact 992 sqft bungalow, suggesting a property where the land itself is a primary asset. Key features include a detached garage and a renovated basement, adding functional living and storage space.
The appeal lies in a classic River Heights location combined with a lot that offers significant potential. It suits a specific buyer: someone looking for a solid entry point into a desirable neighbourhood who values outdoor space over a large interior footprint. It’s an ideal candidate for a long-term hold, appealing to downsizers seeking manageable living, or to visionaries who see the potential for expansion, a garden suite, or simply the luxury of a large, private yard in the city. The renovated basement adds immediate livability, making it move-in ready while the larger lot provides future optionality.
Section 2: Frequently Asked Questions
1. Is the lot size unusual for the area?
Yes. The 6,000 sqft lot ranks in the top 17% on its own street and top 22% in Central River Heights, making it a standout feature compared to neighbouring properties.
2. What does the assessed value indicate?
The assessed value is consistent with averages for the street and neighbourhood. It’s important to note that this is not a market valuation but a tax assessment; the sale price will be determined by current market conditions.
3. The living area seems small. How liveable is the layout?
At 992 sqft, the above-ground living area is below average for the area. However, the presence of a renovated basement effectively increases the usable space, which should be factored into viewing the home’s total functionality.
4. The home last sold in 2017. What does that mean?
The 2017 sale provides historical price context, but being sold seven years ago typically indicates a homeowner who has likely maintained the property for a stable period, not a frequent "flip."
5. Who would this property not suit?
It may not suit buyers seeking a large, modern open-concept layout without undertaking a major renovation or expansion. The value proposition is grounded in location and lot size rather than expansive, move-in-ready interior square footage.