137 Borebank Street

137 Borebank Street – Property Summary

Key Characteristics & Ideal Buyer Profile

This is a newly built home (2020) in Winnipeg’s Wellington Crescent area that stands out primarily for its assessed value and modern construction, rather than its land size. The assessed value of $880,000 places it in the top 1% on its street and top 2% citywide, which is striking given the street’s average assessed value is $426,200. The home is among the newest on the block—top 1% on the street, top 3% in the neighbourhood—and offers 1,825 sqft of living space, which is above average citywide (top 16%) but not oversized.

The appeal here is not sprawling grounds. The land is 3,000 sqft, which ranks in the bottom 3% on the street and neighbourhood. This property suits a buyer who values a newer, low-maintenance home in a prestigious area without the upkeep or cost of a large lot. It would work well for someone prioritizing move-in condition, modern finishes, and a strong address—perhaps a downsizer, a professional couple, or a family who wants the Wellington Crescent cachet but not the estate-sized property that typically comes with it. A less obvious angle: this home’s value is heavily tied to its newness and location, not land appreciation, which makes it a different kind of investment than older, larger homes in the same area.

Five Possible FAQs

1. Why is the assessed value so much higher than the street average?
   Most homes on Borebank Street were built decades earlier (average 1947) and have lower assessed values. This 2020 build is an outlier in terms of age, condition, and modern systems, which the city’s assessment reflects.

2. Is the small lot a disadvantage?
   That depends on your priorities. The land is 3,000 sqft, which is small by neighbourhood standards, but it means less yard work and outdoor maintenance. If you want a garden, playset, or large yard, this isn’t the right fit. If you want a newer home with minimal outdoor upkeep, it works well.

3. How does the living area compare to other homes in the neighbourhood?
   At 1,825 sqft, the home is above average citywide but below the Wellington Crescent neighbourhood average of 2,343 sqft. It’s not a large house by local standards, but it’s not cramped either—more of a comfortable, efficient floor plan.

4. What does “Top 1% on the street” for year built actually mean?
   It means only a couple of homes on the 404 properties on Borebank Street are newer than this one. The street’s housing stock is old, so a 2020 build is rare here. That newness is a major factor in the high assessed value.

5. Would this property appreciate differently than older homes nearby?
   Possibly. Newer homes tend to depreciate in value initially (like a new car) before stabilizing, while older homes on larger lots may appreciate more steadily through land value. That said, being in a top-2% citywide assessed value bracket suggests strong current demand. The value here is in the house itself, not the land—so future appreciation may be more tied to the housing market and renovations than to lot size gains.