Property Overview: 299 Borebank Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This 1930-built home in North River Heights presents a distinct value proposition centered on its generous 6,001 sqft lot, which is notably larger than most in the immediate area and neighbourhood. With a living area of 907 sqft, the house itself is compact, suggesting a classic, efficient layout typical of its era. The assessed value of $385k sits around the city-wide average, indicating a fair valuation that is somewhat below the average for North River Heights specifically.
The primary appeal lies in the land-to-structure ratio. This property is ideal for buyers who prioritize outdoor space, garden potential, and future expansion over immediate square footage. It suits a first-time buyer looking for an entry point into a established neighbourhood, a downsizer seeking a manageable home with a spacious yard, or an investor/renovator who sees value in the lot size and the potential to update or expand the existing footprint. It’s a property where the value is more grounded in its location and land than in its current interior volume or modern finishes.
Frequently Asked Questions
1. Is the house in need of major updates due to its age?
Built in 1930, the home is older than many on its street. Prospective buyers should budget for a thorough inspection to assess the condition of major aging components like the roof, plumbing, and electrical systems, which may require updating.
2. How does the lot size compare to nearby properties?
The lot is a key feature. At over 6,000 sqft, it ranks in the top 14% on Borebank Street and the top 13% in North River Heights for size, offering significantly more outdoor space than many neighbouring properties.
3. Why is the assessed value below the neighbourhood average?
The assessed value reflects the property’s overall characteristics. While the lot is large, the smaller living area and older age of the home bring the total assessment below the North River Heights average, which includes many larger and more recently built or renovated homes.
4. What was the previous sale price?
Records indicate a sale between $300k-$350k in November 2020. For verified, exact historical sale figures, you can request a manual lookup via the provided email service on the original listing page.
5. Is there potential to add on to the house?
The substantial lot size does create potential for future additions, a garage, or extensive landscaping. Any expansion would be subject to local zoning bylaws and would require proper permits, but the physical space is a clear asset for such projects.