Property Overview: 220 Borebank Street, North River Heights
Key Characteristics & Buyer Profile
This home is a compact, nearly century-old property on a standard lot in the established North River Heights neighborhood. Its key characteristic is its modest scale: at 791 sqft, its living area is notably smaller than most homes on its street, in the area, and across Winnipeg. This is reflected in its assessed value of $360k, which sits below the local average but aligns closely with the city-wide median. Built in 1928, it is older than many comparable properties.
The appeal lies in its position as a potentially more accessible entry point into a desirable, mature neighborhood. For the right buyer, the below-average size and value translate to a lower property tax burden and a more manageable maintenance footprint. It would suit a first-time buyer, a downsizer, or an investor seeking a character home in a prime location without the premium price tag of a larger, updated property. A thoughtful perspective is that this home represents the "bones" of the neighborhood—it offers the location and lot but presents a clear opportunity for expansion or renovation for a buyer with a vision, compared to a already-maximized modern build.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
The assessed value of $360k is for municipal tax purposes. The last sold price in mid-2022 was in the $400k-$450k range, and market conditions have changed since then. A current market evaluation is essential.
2. How much of a factor is the smaller living space?
At 791 sqft, the home is significantly cozier than the neighborhood average. This is the defining trade-off for the location. It necessitates efficient use of space and may not suit those needing multiple bedrooms or dedicated work-from-home areas without planning for an addition.
3. What are the implications of the home's age (built in 1928)?
Age brings character but also requires diligent inspection. Potential buyers should budget for and investigate the condition of major aging components like the roof, plumbing, electrical systems, and the foundation, which are common focal points in homes of this vintage.
4. The lot size is also noted as below average. Is outdoor space limited?
At just under 4,000 sqft, the lot is smaller than many in the city but is reasonably aligned with older neighborhood parcels. It provides standard yard space for a home of this era but may not accommodate a large addition without compromising outdoor area.
5. How can I verify the exact historical sale prices?
The site provides sold price ranges based on public data. To obtain verified, exact sale figures from the MLS, you must request them directly via email, as industry rules prevent their direct publication on third-party websites.