Property Summary: 337 Borebank Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 337 Borebank Street in North River Heights is a classic post-war property built in 1947, offering a balanced proposition in a desirable neighbourhood. With 1,261 sqft of living space and a 4,800 sqft lot, its size is comfortably average for the immediate street and area, suggesting it fits the neighbourhood's established character without being overly large or small.
The primary appeal lies in its strong value positioning. The home's assessed value of $486,000 ranks well above average for its street (top 16%) and city-wide (top 22%), indicating it is perceived as a higher-value property within its peer groups. This suggests potential for solid equity, whether the assessment reflects recent updates, a premium lot location, or the inherent desirability of Borebank Street itself. The home last sold in September 2020 for between $400,000 and $450,000, providing a recent benchmark.
This property would suit practical buyers looking for a home in a mature, stable neighbourhood without the footprint of a massive estate. It’s a sensible choice for first-time buyers moving into North River Heights, small families, or downsizers who value a manageable lot and interior space. The data suggests a buyer who prioritizes location and value retention over having the newest or largest home on the block.
Section 2: Frequently Asked Questions
1. What does the "above average" assessed value really indicate?
It means the city's assessment for this home is higher than most comparable properties on its street and across Winnipeg. This typically reflects the property's market value perception, which can be influenced by factors like lot desirability, specific upgrades, or simply the premium of this particular block.
2. Is a 1947 home likely to have major maintenance issues?
Being nearly 80 years old, major systems like roof, plumbing, wiring, and foundation should be carefully inspected. However, its build year is actually newer than the average for North River Heights, suggesting the neighbourhood is filled with well-maintained heritage of a similar vintage.
3. How does the lot size compare?
At 4,800 sqft, the lot is slightly smaller than the average on Borebank Street but very close to the average for North River Heights. It offers a standard urban yard—sufficient for gardening and recreation without being burdensome to maintain.
4. The sold price from 2020 seems lower than the current assessed value. Why?
The assessed value is an estimate for taxation purposes, not a direct market price. The 2020 sale price is a historical data point. The difference likely reflects general market appreciation over five years and the specific methodology used for assessment.
5. Where can I get the exact historical sold price?
The exact sale price is not publicly displayed due to industry regulations. You can request the precise figure by emailing the site directly for a manual lookup, which they will provide without using your email for marketing.