Property Overview: 500 Borebank Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home at 500 Borebank Street is a classic North River Heights property that presents a balanced, grounded opportunity. Built in 1949, it offers 1,312 square feet of living space on a generous, nearly 6,000-square-foot lot. The data suggests a home that is well-established within its immediate community: its lot size and year built are notably above average for the desirable North River Heights area, indicating a property that fits the neighborhood's character of mature homes on sizable lots.
The appeal lies in its established location and its solid positional value. With an assessed value of $449,000, it sits above average compared to both its street and the wider city, yet remains around the median for North River Heights itself. This positioning could attract buyers looking for a foothold in a stable neighborhood without the premium of a fully renovated or newer home. The significant lot size offers potential for outdoor space, gardens, or future expansion, which is a valuable asset in a central neighborhood.
This property would suit a practical buyer who values location and land over turn-key modern finishes. It’s ideal for someone comfortable with a home of this era, potentially looking to personalize it over time. It also represents a sensible choice for those seeking a long-term hold in a proven area, where the value is supported more by the land and location than by the structure alone.
Frequently Asked Questions
1. How does this home’s value compare to recent sales on the street?
According to available data, a nearby home sold in late 2021 for between $450,000 and $500,000. The current assessed value of $449,000 for 500 Borebank Street aligns with this range, suggesting its valuation is in step with recent market activity on Borebank Street.
2. Is the living space smaller than other homes in the area?
At 1,312 sqft, the living area is slightly above the average for Borebank Street itself but somewhat below the broader North River Heights average. This indicates the home may have a more compact or traditional layout compared to some larger area homes, but is not unusually small for its specific street.
3. What does the "above average" lot size mean for me?
With a lot size ranking in the top 15% for North River Heights, this property offers more outdoor space than most in the neighborhood. This allows for greater privacy, larger gardens, and more flexibility for outdoor living or potential additions, subject to zoning.
4. The home was built in 1949. What should I consider?
While the home is of a typical age for the area, and is actually newer than many in North River Heights, a professional inspection is essential. Buyers should budget for maintenance and updates consistent with a home of this era, including potential updates to systems, windows, and insulation.
5. How can I verify the exact past sale prices mentioned?
The site notes that precise sale figures are not displayed publicly due to data source rules. You can request the exact sold price history by emailing the site directly for a manual lookup, which they provide as a free service.