371 Borebank Street

Property Overview: 371 Borebank Street, Winnipeg

Key Characteristics & Appeal

This home at 371 Borebank Street in North River Heights is a practical, mid-century property that presents a balanced value proposition. Built in 1939, it offers 1,186 sqft of living space on a 4,320 sqft lot, with an assessed value of $400,000. Its appeal lies in its positioning as a relatively affordable entry point into a desirable, established neighbourhood. Compared to its immediate street and the wider city, its living area and assessed value are around average, suggesting it’s priced in line with core fundamentals. However, within the broader North River Heights area, both its size and value sit below the local average, indicating it may offer more square footage and land for your dollar in a pricier district.

The property would suit first-time buyers or downsizers seeking the mature tree-lined streets and convenience of River Heights without the premium for a larger, fully renovated character home. It’s a candidate for those comfortable with a home of its era, possibly seeing value in its smaller, more manageable lot for lower maintenance. A thoughtful perspective is that its "below average" metrics for the area aren't necessarily drawbacks, but rather what make it accessible. It represents the fabric of the neighbourhood—a solid, no-frills home where investment can be directed gradually toward modernization.

Frequently Asked Questions

1. How does this home’s value compare to recent sales on the street?
The site indicates no direct sales history is displayed for this listing. You can request exact historical sales figures by email, and the team will provide a manual lookup.

2. Is the lot size a disadvantage?
At 4,320 sqft, the lot is smaller than many on Borebank Street. However, it is near the city-wide average and may appeal to those seeking lower outdoor maintenance while still having private yard space.

3. What should I consider about a home built in 1939?
While the structure is from 1939, key systems (roof, wiring, plumbing, insulation) have likely been updated over time. A thorough inspection is essential to understand the condition and to budget for any needed upgrades common to homes of this era.

4. The assessed value is $400k; what does that mean for the likely selling price?
The assessed value is for municipal tax purposes and is not a direct indicator of market value. Market value is determined by current supply, demand, and the home’s specific condition. It does, however, provide a benchmark for comparison.

5. Can I see how this property compares visually to its neighbours?
Yes, you can open the neighbourhood map analysis page to see this property in context with nearby houses, comparing details like year built and lot size.