Property Overview: 305 Borebank Street, Winnipeg
Key Characteristics & Appeal
This 1,320 sqft home, built in 1930, sits on a 4,681 sqft lot in the established North River Heights neighborhood. Its core appeal lies in a value-oriented position within a desirable area. The living space is notably above average for Borebank Street itself, suggesting a well-sized home for its immediate setting. However, its assessed value is below average for both the street and the wider neighborhood, which may indicate a relative value opportunity or reflect the home’s age and potential update needs.
This property would suit a pragmatic buyer who prioritizes location and space over modern finishes. It’s a candidate for those comfortable with a home from the 1930s, possibly looking for a character property to gradually personalize. The data suggests it may offer more interior space per dollar in this locale compared to some neighbors, appealing to first-time buyers or investors seeking entry into North River Heights. A thoughtful perspective is that its "below average" assessment for the area could provide a slightly more manageable property tax burden relative to nearby homes, which is a lasting, less obvious financial benefit.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value ($356k) is used for calculating property taxes and often lags behind current market conditions. The final sale price is determined by the market.
2. What does the "Sold 7/2023 CA$350k–400k" price range indicate?
This shows the home was sold in July 2023 for an amount within that $50k band. To obtain the exact historical sale price, you must request it via email from the site, as per their data notes.
3. The home is older than most on the street. Should I be concerned?
A 1930 build means character and likely a mature lot, but it necessitates a thorough inspection. Budgeting for potential updates to systems, insulation, or windows is prudent. Its age is typical for many homes in the broader neighborhood.
4. How does the lot size compare?
At 4,681 sqft, the lot is slightly below the average for Borebank Street but is generally in line with the average for North River Heights. It provides standard outdoor space for the area.
5. Why is the living area "above average" for the street but the assessed value is "below average"?
This contrast is key. It often means you are getting more square footage for your money here than with neighboring properties. The lower assessment may reflect the home’s older age, condition, or specific features that affect its tax valuation compared to updated or larger homes on the street.