Property Overview: 499 Borebank Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This 1947-built home in North River Heights presents a compelling mix of space, location, and value. Its most standout feature is the generous 7,198 sqft lot, which ranks in the top 3% on its street and the top 8% in the neighbourhood. This offers significant outdoor space and potential not commonly found in the area. The 1,472 sqft living area is above average for Borebank Street, providing ample room, though it is closer to the city-wide average.
The home’s assessed value of $391k sits below the neighbourhood average, suggesting a potentially accessible entry point into the desirable River Heights area. This combination—a large lot in a established neighbourhood at a value-conscious price—creates its primary appeal. It would suit practical buyers who prioritize land size and location over a modern or recently built home, including those interested in gardening, outdoor living, or future expansion. It’s also a candidate for buyers comfortable with the maintenance and character of a classic Winnipeg home, seeing the lot size as a long-term asset that offsets the home’s older age.
Frequently Asked Questions
1. How does the lot size compare to typical properties?
The lot is a key advantage. At over 7,000 sqft, it is substantially larger than most on the street (top 3%) and in North River Heights (top 8%), offering rare space for its location.
2. Is the assessed value high for the area?
No. The assessed value is actually below the average for North River Heights. This indicates the property may offer relative value within the neighbourhood, though the final sale price is market-determined.
3. What does the "above average" year built ranking for the neighbourhood mean?
It means that, within North River Heights, this 1947 home is newer than many others (top 17%). The neighbourhood has many older homes, so this property is relatively closer to the middle of its local age range.
4. How reliable is the sold price data shown?
The displayed sold price range is based on publicly available data, not the MLS. For fully verified and exact historical sale figures, you must request a manual lookup from the site via email.
5. The living area seems average compared to the city. Is the house small?
At 1,472 sqft, it is not small. It is above average for its specific street. The city-wide average includes many newer suburban homes with different layouts, so the space is competitive for its mature neighbourhood context.