Property Overview: 720 Borebank Street, Winnipeg
Key Characteristics & Buyer Appeal
This two-storey home in Central River Heights is defined by its exceptionally generous living space. With over 2,500 square feet, it ranks in the top 1-3% of homes locally for size, offering a rare amount of room for the area. The property sits on a well-proportioned, mature lot and features an attached garage. Built in 1954, it is notably newer than many neighbouring homes, suggesting potentially updated core systems or construction. The unrenovated basement presents a blank canvas for finishing to suit a new owner's needs.
The primary appeal lies in the combination of a prime, established neighbourhood and a house that offers significantly more interior space than is typical. It suits buyers looking for a "bones-and-space" opportunity—those who value square footage and location over turn-key finishes and are planning renovations or a gradual update. It’s also an ideal fit for multi-generational families or those who simply need ample room to grow and aren’t finding it in newer builds.
Frequently Asked Questions
1. What does "unrenovated basement" typically mean for a home of this era?
It usually indicates the basement is in original or functional condition, with concrete floors, basic walls, and fundamental utilities. It’s unfinished space awaiting customization, which can be a cost-saving advantage if you have specific plans for a rec room, suite, or storage.
2. The assessed value seems low compared to the sale price. Why is that?
Municipal assessed value for taxation purposes often lags behind the current market and is based on mass appraisal techniques. The recent sale price of $600k is a clearer reflection of its current market value, influenced by its size, lot, and location.
3. How does the year built (1954) compare to nearby homes?
This home is above average in age for its immediate street and neighbourhood. Many comparable homes were built earlier, around 1947-1953, so this property may benefit from slightly newer construction methods and materials for its time.
4. Is the large living area due to additions, or is it original?
The data suggests the living area is original to the 1954 build, as it is consistently ranked as elite for the area. This indicates it was built as a notably larger model for its time, rather than being expanded later.
5. What is the significance of the lot size ranking as "around average"?
While the living space is exceptional, the 5,520 sqft lot is typical for Central River Heights. This means the large house footprint utilizes the lot efficiently, leaving a standard-sized yard for the area—a balance of indoor space and outdoor area common to the neighbourhood.