664 Borebank Street

Property Overview

664 Borebank Street is a well-situated, one-storey home in Winnipeg's Central River Heights neighbourhood. Built in 1954, it sits on a notably spacious 6,000 sqft lot that ranks within the top 17% for size on its street. The home features a renovated basement and a detached garage. With a living area of approximately 1,200 sqft, it offers a practical footprint. Its most recent sale was in June 2022 for $51,800, and it holds an assessed value of $46,300.

Key Characteristics & Appeal

The primary appeal of this property lies in its land. The lot size is significantly above average for both the immediate street and the broader Central River Heights area, offering substantial outdoor space and potential in a mature, established neighbourhood. The renovated basement adds functional living space, a valuable update for a home of this era. Its assessed value is strong compared to city-wide averages, suggesting a solid underlying value.

This home would suit a buyer looking for a character home in a prime location where the land itself is a major asset. It’s ideal for someone who values private outdoor space for gardening, recreation, or future expansion over a large interior footprint. The renovated basement also makes it practical for those needing a flexible space for a family room, home office, or separate suite. It represents an opportunity to own a property where the value is anchored more in its location and lot than in square footage, appealing to downsizers, first-time buyers seeking a foothold in a desirable area, or investors interested in the long-term value of land.

Frequently Asked Questions

1. How does the lot size compare to typical properties?
The 6,000 sqft lot is a standout feature, larger than approximately 83% of lots on Borebank Street and 78% of those in Central River Heights, offering more privacy and space than most in the area.

2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. A professional inspection is recommended to determine the finish quality, layout, and whether it includes legal egress, a bathroom, or a kitchenette.

3. Is the sale price from 2022 a reliable indicator of current value?
Not directly. The 2022 sale price of $51,800 provides historical context, but current market conditions, further renovations, or changes in the neighbourhood will influence today’s value. The assessed value of $46,300 is an administrative valuation for tax purposes and may not reflect market price.

4. What are the implications of the home's age (1954)?
While the home is older than many on its street, it is newer than the area average. This suggests potentially updated core systems, but buyers should still budget for ongoing maintenance and consider an inspection focused on the roof, wiring, plumbing, and foundation common to mid-century construction.

5. Who might the detached garage benefit?
Beyond vehicle storage, the detached garage is ideal for hobbyists, workshop space, or additional storage without encroaching on the main living area. It could also present a future opportunity, subject to zoning, for conversion into a studio or workshop separate from the house.