Property Overview: 182 Borebank Street, North River Heights, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a compelling mix of space, location, and value. Built in 1926, it is a mature character property situated on a generously sized lot of over 6,000 sq ft—a standout feature that places it in the top 11% for land area within both its immediate street and the broader North River Heights neighbourhood. This offers significant outdoor space and potential not found in many newer builds.
The 1,504 sq ft living area is efficiently sized, offering more space than most similar homes on Borebank Street. Its assessed value of $402,000 positions it as a relatively accessible entry point into the desirable North River Heights area, coming in below the neighbourhood's average for comparable homes. This creates an opportunity for buyers seeking location and lot size over a modern or recently renovated interior.
The appeal lies in this balance: a large, established lot in a prime central neighbourhood at a value-conscious price point. It would suit a buyer comfortable with the character and potential maintenance considerations of a century-old home, who prioritizes land and location, and sees value in putting their own stamp on a property over time. It’s a solid candidate for those looking to enter a sought-after area where the land itself is a key asset.
Section 2: Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value of $402,000 is for municipal tax purposes. The home last sold for an estimated $450,000-$500,000 in mid-2022, which is a more relevant benchmark. Market conditions, the home's condition, and buyer demand will determine the final sale price.
2. What are the implications of the home being 100 years old?
This means the structure has proven its longevity, but it also necessitates a thorough inspection. Key systems like plumbing, electrical, and the foundation may have been updated over time, and understanding the current state of these is crucial. It also offers classic architectural charm often missing in newer homes.
3. The lot size is a standout feature. What does that practically mean?
A 6,004 sq ft lot is significantly larger than the average in the area. This provides ample room for gardening, recreational space, potential additions (subject to zoning), and greater privacy from neighbours. It's a long-term asset that adds to the property's versatility and value.
4. The data shows the value is "below average" for North River Heights. Is that a concern?
Not necessarily. This primarily indicates that many homes in North River Heights are larger, newer, or more recently renovated. For this property, it reflects its age and potentially its condition at the time of assessment. It can represent a value opportunity to acquire a great lot in a premium neighbourhood.
5. How can I get the exact historical sale prices for this home?
The site provides sold price ranges for context. Due to industry regulations, exact MLS sale figures are not published here. You can request the full, verified transaction history by emailing the site directly, and they will provide the information manually.