Property Overview: 470 Borebank Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, well-established home in North River Heights, built in 1946. With 884 square feet of living space, it is notably smaller than most homes in the immediate area and across Winnipeg, positioning it as a more compact and manageable property. Its assessed value of $350,000 is below the neighbourhood average but aligns closely with the city-wide typical home value, suggesting it offers a more accessible entry point into a desirable area.
The appeal lies in its location and lot size. The property sits on a nearly 4,800 sqft lot, which is quite standard for North River Heights and provides good outdoor space relative to the home's footprint. This creates potential for gardening, expansion, or simply enjoying a generous yard—a valuable asset in a mature neighbourhood. The home’s age places it among the newer properties in this specific area, which is filled with character homes from the 1930s and 40s.
This property would best suit first-time buyers, downsizers, or pragmatic investors seeking a foothold in a prime neighbourhood without a premium price tag. It’s for someone who values location and land over square footage, and who may see potential in a smaller, classic home that they can update or customize over time. It is less suited for those requiring substantial move-in-ready space or the highest-end finishes.
Section 2: Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
The assessed value ($350k) is for municipal tax purposes. Notably, it is below the neighbourhood average but near the city-wide average. Recent sold data suggests homes on this street have transacted in the $300k-$350k range, but for exact, verified historical sale prices, a manual lookup is required.
2. How does the smaller living area impact daily living?
At 884 sqft, the home is significantly cozier than the area average. This necessitates efficient use of space and would suit a household comfortable with a simpler, less-sprawling layout. It may also mean lower utility costs and less maintenance.
3. What does the lot size offer for a home of this scale?
The 4,799 sqft lot is a key feature. It provides a balanced ratio where the outdoor space is more generous than the indoor space, offering room for decks, gardens, play areas, or future additions like a garage or sunroom.
4. The home is 80 years old. What should I consider?
While it’s actually newer than many homes in North River Heights, its age still means prospective buyers should budget for potential updates to major systems like plumbing, electrical, or the roof, and seek a thorough inspection to understand the home’s condition.
5. How can I verify the exact past sale prices for this home?
The provided sold price data is an estimated range from public records. To obtain fully verified, exact sale figures, you must request a manual lookup via email, as this site does not display official MLS transaction history.