Property Overview: 370 Borebank Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 370 Borebank Street in North River Heights presents a solid, middle-of-the-road offering in a well-established neighborhood. Built in 1940, it sits on a 4,800 sqft lot and features 1,248 sqft of living space. The data reveals a property that is consistently "around average" for its immediate street and neighborhood in terms of size, lot, and age. Its standout metric is the assessed value of $438k, which ranks in the top third citywide, suggesting the valuation recognizes the desirability of the location more than the physical attributes of the home itself.
The appeal lies in its positioning within a stable, mature community. It suits a practical buyer—perhaps a first-time homeowner or a downsizer—who values neighborhood character over a modern or expansive house. It represents an opportunity to enter a sought-after area without a premium price tag for the home's size, potentially allowing for budget to personalize or update the interior over time. A less obvious perspective is that its very "averageness" on the street could be a benefit, offering less risk of over-improvement compared to neighboring properties and providing a straightforward, blank-canvas foundation.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home sold between $400k-$450k in August 2021. Its current assessed value of $438k aligns closely with that sale range, indicating the assessment is grounded in recent market activity.
2. Is the house older than most in the city?
Yes. Built in 1940, it is older than about 80% of homes across Winnipeg. However, it is typical for the North River Heights area, where many homes date from a similar era.
3. How does the lot size compare?
At 4,800 sqft, the lot is slightly below the average for Borebank Street and North River Heights, but it is very close to the neighborhood norm. Citywide, it is just below the middle range, offering a standard urban yard.
4. What does the "top 30% citywide" ranking for value really mean?
This indicates that for its assessed value, this property is considered more valuable than 70% of homes across Winnipeg. This often reflects a combination of lot location, neighborhood demand, and the property's condition, rather than sheer size.
5. Where can I see more detailed context for this property?
A dedicated neighbourhood analysis page is available, showing this home on a map alongside nearby properties for direct comparison of year built, living area, assessed value, and lot size.