Property Overview: 177 Borebank Street, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This home is defined by its modern build and premium valuation within a well-established neighbourhood. Built in 2020, it is a notably newer construction compared to most homes on its street, in the North River Heights area, and across Winnipeg. With 1,714 sqft of living space, it offers above-average interior room, particularly when compared to other homes on Borebank Street. Its assessed value of $673k places it in the elite tier (top 3-7%) across all comparison levels, reflecting its premium market position.
The primary appeal lies in acquiring a modern, low-maintenance home with contemporary systems and finishes in a mature, sought-after neighbourhood. You benefit from the established character and greenery of River Heights without the potential renovation projects common with older homes. A thoughtful perspective is the trade-off: while the house itself is large and new, the lot size (3,002 sqft) is significantly smaller than area norms. This suggests a lifestyle oriented more toward the home's interior and efficient outdoor space rather than extensive gardening or yard use.
This property would best suit buyers who prioritize move-in readiness, modern energy efficiency, and a home that stands out for its condition and age on the block. It’s ideal for professionals or small families seeking the neighbourhood's prestige and amenities without the upkeep of a classic, older River Heights home.
Frequently Asked Questions
1. What was the exact sold price?
The property sold in June 2024 for between $800,000 and $850,000. For fully verified and exact transaction figures, you can request a manual lookup via email from the site.
2. Why is the lot size smaller than average?
This is common for newer infill constructions in established neighbourhoods. The smaller, efficiently used lot is a trade-off for a brand-new, larger living space on a prized street, reflecting a different use of land than older properties with larger yards.
3. How does the assessed value compare to the sold price?
The sold price was notably higher than the $673k assessed value. This is not uncommon, as assessed values for taxation purposes can differ from market value, especially for unique, newer properties in high-demand areas.
4. What does the "Elite" ranking for Year Built mean?
It means this home is newer than 99% of the properties on Borebank Street and in North River Heights. You are essentially buying one of the newest homes available in this mature market segment.
5. Is this a good value for the neighbourhood?
The data indicates you are paying a premium for a rare commodity: a new build. Its value ranks in the top tier, so it commands a higher price relative to the neighbourhood's average home, which is older and may have a larger lot but require more updates.