Property Overview: 233 Borebank Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home is a classic 1924 bungalow in the established North River Heights neighbourhood. At 932 sqft, its living space is notably compact compared to area averages, suggesting a efficient, manageable layout. The assessed value of $347k sits below the neighbourhood average, positioning it as a more accessible entry point into this desirable area. The lot size of 4,563 sqft is fairly typical for the local streetscape.
The primary appeal lies in its value proposition within a prime location. It suits first-time buyers or downsizers seeking a lower-cost foothold in a mature, well-regarded community without a large or high-maintenance property. Its century-old character may attract those who appreciate historic homes, though it implies a need for careful attention to maintenance and potential updates. A thoughtful perspective is that its below-average metrics for the immediate area could represent an opportunity for value growth through thoughtful renovations, making it a candidate for a buyer with a medium-term vision and a renovation budget.
Frequently Asked Questions
1. Is this a good value for the neighbourhood?
Based on the assessed value, this home is priced below the average for both Borebank Street and North River Heights overall, offering a more affordable entry into the area. Its city-wide assessment is around average, highlighting the premium typically associated with this neighbourhood.
2. How does the home's size compare to others?
The living area is smaller than most comparable homes on the street, in the neighbourhood, and across Winnipeg. This indicates a cozy, efficient layout rather than a spacious one, which aligns with its era and can mean lower utility costs.
3. What should I consider about the age of the home?
Built in 1924, it is among the older homes on the street. This age brings character but also necessitates a thorough inspection for foundational integrity, plumbing, electrical systems (like knob-and-tube wiring), and insulation to understand any needed updates or associated costs.
4. What is the potential for expansion or renovation?
The lot size is relatively standard for the area. While not oversized, there may be potential for additions or landscaping projects, subject to local zoning bylaws. The existing smaller footprint could allow for a thoughtful reconfiguration or expansion to modernize the living space.
5. Can I find out the exact historical sale price?
The available data shows a sold price range of CA$250k–300k in September 2017. For fully verified figures and a complete transaction history, you must request a manual lookup from the site via email, as they do not display MLS sold records.