Property Overview
This well-situated one-storey home at 520 Borebank Street in Winnipeg's Central River Heights presents a compelling opportunity. Its primary appeal lies in the combination of a generous, mature lot and a home with updated essentials. The nearly 7,800 sqft lot is notably large, ranking in the top 1% on its street and top 3% in the neighbourhood, offering significant outdoor space and potential in a highly sought-after area. The home itself, built in 1954, is newer than many area comparables and features a renovated basement, adding valuable finished living space to its 1,491 sqft footprint. With a detached garage and a recent sale price of $530,000, it sits above average in value for its immediate surroundings, reflecting its desirable attributes.
This property would suit buyers looking for a prime location with ample land, who appreciate the character of an established neighbourhood but want some of the work already done—specifically, a modernized basement. It's ideal for someone who values outdoor privacy and space over a massive interior, or for a household planning a future renovation or addition, given the solid lot size to build upon.
Frequently Asked Questions
How does the lot size compare to a typical city property?
The lot is approximately 7,800 square feet, which places it in the top 12% city-wide—significantly larger than the Winnipeg average of about 6,570 sqft.
Is the home considered newer or older for the area?
Built in 1954, it is actually newer than many homes in Central River Heights. It ranks in the top 16% for year built in the neighbourhood, where the average comparable home was built around 1953.
What does the "renovated basement" include?
The listing confirms the basement is renovated, but specific finishes and the scope of work are not detailed. This would be a key point to clarify during a viewing or with the selling agent.
How has the property's value changed?
It last sold for $503,000 in August 2021 and most recently for $530,000 in October 2024. Its current assessed value is $510,000.
Are the property taxes available?
The listing does not provide the annual property tax amount. This figure, based on the $510k assessment, should be verified directly through municipal records or the listing agent.