Property Overview: 699 Borebank Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Central River Heights is defined by its generous, above-average lot size. With over 6,100 square feet of land, the property offers substantial outdoor space that is a rarity within its street, neighbourhood, and city context, ranking in the top 10-15% locally. This is the home's most distinctive asset, presenting opportunities for gardening, expansion, or simply enjoying a larger private yard.
The house itself, built in 1953, is of average size for the area at approximately 1,137 square feet and features a renovated basement. Its appeal lies in a classic River Heights location combined with the latent potential of its sizable parcel of land. It would suit a buyer who values space and location over a large existing footprint—perfect for someone looking to put down roots in a established neighbourhood with room to grow, or for those who prioritize outdoor living and future renovation potential over a move-in-ready, maximized structure. The detached garage adds practical storage or workshop space.
Section 2: Frequently Asked Questions
1. Is the lot size truly a significant advantage?
Yes. The land area is notably larger than most comparable properties on the street and in Central River Heights. This provides more privacy, flexibility, and is often a key driver of long-term value in mature neighbourhoods.
2. How updated is the home?
The listing specifically notes a renovated basement, which is a positive functional update. The main living areas and systems of the 1953-built home should be carefully inspected to determine the level of modernization required.
3. What does the assessed value indicate?
The assessed value is around the neighbourhood average. It's important to note that this is for municipal tax purposes and is not a market valuation. The sale price will be determined by current market conditions, the home's condition, and the desirability of its large lot.
4. The last sale was in 2016 for $33.5k. What does that mean?
That previous sale price is not reflective of current value. It was likely a significantly different market or may have been a non-arms-length transaction (e.g., between family members). Rely on a current professional appraisal and comparative market analysis for an accurate value.
5. Who would this property not suit?
Buyers seeking a modern, low-maintenance home with no renovation plans may find the average-sized, older house less appealing. It’s best for those who see the value in the land and location and are prepared to live in or gradually update a character home.