592 Borebank Street

Property Overview

This 1953 one-storey home at 592 Borebank Street in Central River Heights sits on a notably spacious 6,000 sqft lot, which is larger than most in this sought-after neighbourhood. The home itself is a manageable 1,063 sqft and features a renovated basement and a detached garage. Its recent sale history shows a significant increase in value, having sold for $320k in late 2023 and again for $420k in early 2024.

Key Characteristics & Appeal

The primary appeal of this property is its generous lot in a prime location. The land size ranks in the top 17% on its own street and the top 22% within Central River Heights, offering rare potential for expansion, gardening, or outdoor living. The renovated basement adds valuable finished space. Its recent sale price aligns closely with the city-wide average for assessed value, suggesting a market-ready valuation.

This home would suit a buyer who prioritizes land size over a large existing footprint. It’s ideal for someone looking to enter the River Heights area with a solid foundation—literally and figuratively—with the future potential to renovate or expand the main floor. It also appeals to those seeking a manageable single-level layout with the bonus of a modernized lower level.

Frequently Asked Questions

1. What does the recent sale history indicate?
The property sold twice within a short period (Oct 2023 and Jan 2024), with a $100,000 price increase. This typically indicates strong market demand, likely due to the desirable lot and location, and suggests the current price is firmly established by recent market activity.

2. How does the living space compare to the neighbourhood?
At 1,063 sqft, the above-ground living area is below the average for Central River Heights. This highlights that the property’s main draw is the land, making it better suited for those comfortable with a cozier main floor or with plans to eventually enlarge the home.

3. Is the lot size unusual for the area?
Yes. The 6,000 sqft lot is significantly larger than the neighbourhood average (~5,581 sqft), placing it in the top quarter for size. This is a key differentiator and a source of long-term value.

4. What is the significance of a "renovated basement"?
While specifics aren’t listed, a renovated basement in a 1950s home typically adds crucial functional living space, such as a family room, office, or additional bedroom, effectively increasing the usable square footage beyond the main floor's footprint.

5. How does the year built affect this home?
Built in 1953, the home is slightly newer than many on its street but is a typical vintage for the neighbourhood. Buyers should anticipate the maintenance and update needs common to homes of this era, balanced by the character and established landscaping that come with it.