Property Summary: 409 Borebank Street, Winnipeg
Key Characteristics & Appeal
This is a compact, character home built in 1945, situated on a standard-sized lot in the established North River Heights neighbourhood. Its primary characteristic is its modest 777 sqft living area, which is notably smaller than most homes on its street, in the area, and across Winnipeg. This creates a distinct value proposition: the assessed value of $436k is competitive and aligns with average prices on Borebank Street, suggesting you are paying for location and land rather than interior space.
The appeal lies in securing a foothold in a desirable, mature neighbourhood without the premium typically attached to larger homes in the area. It suits practical, entry-level buyers—such as a single professional, a couple, or an investor—who prioritize location over size and are comfortable with a cozy footprint. A thoughtful perspective is that this smaller scale can mean lower utility costs, less maintenance, and a simpler lifestyle, allowing the owner to enjoy the community's amenities rather than being tied to a large house. The lot, while below average in size for the street, still offers typical outdoor space for the area.
Frequently Asked Questions
1. Why is the living area so much smaller than nearby homes?
Homes from this era often had more compact, efficient layouts. This property may be a bungalow or a story-and-a-half style, reflecting post-war building trends focused on practicality.
2. Is the assessed value likely accurate given the home's size?
The data shows the assessment is consistent with averages on its immediate street, indicating the valuation heavily factors in the desirable North River Heights location, which supports property values even for smaller homes.
3. What should I consider regarding the year built (1945)?
While the structure is older, it is actually newer than the average home in North River Heights. This means major systems like wiring or plumbing may have seen updates over time, but a thorough inspection is essential to understand the condition and any needed modernizations.
4. How does the last sold price (2017) relate to today's value?
The home sold between $350k-$400k in 2017. The increase to the current $436k assessment reflects broader market appreciation over seven years. For exact historical sold prices, you can request the information via email from the site.
5. Who would this property not be well-suited for?
It would likely be a challenge for a growing family needing multiple bedrooms or dedicated workspaces, or for buyers who entertain large groups frequently. The below-average living area requires a conscious fit for the occupant's lifestyle.