118 Borebank Street – Property Summary
Key Characteristics & Buyer Profile
This 1931 home sits on a compact 3,956 sqft lot in the Wellington Crescent area of Winnipeg. The living space is 1,084 sqft, which is close to the average for its street and the city overall, but noticeably smaller than the typical home in its immediate neighbourhood, where the average is over 2,300 sqft. The property’s assessed value is $374,000, which falls below both the street and community averages, though it aligns closely with the citywide median.
Its main appeal lies in offering a more modest footprint in a traditionally upscale area. For buyers who want access to the Wellington Crescent corridor—known for its character homes, mature trees, and proximity to the river and parks—without paying for a large house or a big lot, this property presents a realistic entry point. It is not a standout in terms of size or land, but it avoids the premium attached to larger homes in the same postal zone.
This home would suit buyers who prioritize location over square footage, and who value the bones of an older building (1931 construction) over newer finishes. It is also a reasonable fit for someone looking for a smaller-scale property in a neighbourhood where most homes are substantially larger, potentially offering a lower maintenance footprint. The ranking data suggests it is an average or below-average performer on most metrics relative to its surroundings, which may appeal to value-conscious purchasers who are not looking for a trophy property.
Frequently Asked Questions
1. How does this home compare to others on Borebank Street?
It is close to average in living area and assessed value, but sits on a smaller lot than most on the street. The land size ranks in the bottom 10% for the street, which means less outdoor space but also less upkeep.
2. Is the assessed value of $374,000 a fair reflection of the market?
The assessment is below the street average ($426,000) and well below the community average ($806,000), but in line with the citywide median ($390,000). This suggests the market value is likely modest relative to the immediate area, but not unusually low for Winnipeg overall.
3. What does the 1931 build year mean in practical terms?
The home is older than most on its street (average 1947) and the city (average 1966), but typical for the Wellington Crescent area (average 1940). Buyers should expect potential quirks of older construction—like plaster walls, limited insulation, or outdated systems—but also character details that newer homes lack.
4. Why is the lot so much smaller than the neighbourhood average?
The lot is 3,956 sqft compared to the community average of nearly 9,500 sqft. This is common for infill or edge properties within an established area. It means less yard and potentially less privacy, but also lower property taxes and less yard work.
5. Who typically buys a home like this?
First-time buyers looking for an affordable entry into a desirable neighbourhood, downsizers who want a smaller home in a walkable area, or investors seeking a lower-cost property in a higher-value zone. It is less suited for families needing large indoor or outdoor space.