Property Overview
331 Borebank Street presents a classic North River Heights home built in 1940. Its key characteristic is a compact 883 sqft living area, which is notably smaller than most comparable homes in the neighbourhood and citywide. This is balanced by a slightly above-average citywide assessed value of $444k and a standard 5,040 sqft lot. The appeal lies in its efficient footprint within a mature, established area. It represents an opportunity for value-conscious entry into a desirable neighbourhood without paying for excess space that may not be needed.
This property would suit first-time buyers or downsizers seeking a lower-maintenance home in a prime location. It’s also a potential match for investors or handy buyers looking for a character home with a solid lot, where the value is anchored in the land and location rather than the size of the structure. A thoughtful perspective is that this home’s below-average size in an above-average value bracket highlights the premium for location in Winnipeg, making it a pragmatic choice for those prioritizing community over square footage.
Frequently Asked Questions
Is the assessed value a reliable indicator of the likely selling price?
The assessed value of $444k is above the citywide average for comparable homes but around average for its immediate street and neighbourhood. It serves as a starting point, but market conditions, the home’s interior condition, and buyer demand for the location will ultimately determine the sale price.
Given the smaller living space, is the lot size still useful?
Yes. At over 5,000 sqft, the lot is standard for the area and offers valuable outdoor space. This provides room for gardening, recreation, or potential future expansions like a shed or deck, which adds flexibility that the compact interior may not offer.
What are the implications of the home being built in 1940?
While the home has character, its age means prospective buyers should pay close attention to the condition of major systems like plumbing, electrical, and the foundation during an inspection. Older homes can be well-built but may require updates or maintenance.
How does this home’s value compare to nearby properties?
The data shows its assessed value is competitive on Borebank Street itself. The "nearby properties" listed are close in proximity but may differ in size, condition, and exact value. A key comparison is that this home’s value is sustained despite its smaller size, underscoring the strength of the location.
Why is there no sales history available on the page?
Due to industry data regulations, detailed MLS sales history is not published publicly on the site. You can request the exact sales history figures manually via the provided email request form, and the team will supply the information directly.