Property Overview
This one-and-a-half storey home on a generous 5,640 sqft lot in Central River Heights presents a balanced and practical offering. Its key appeal lies in its established neighbourhood setting and recent, significant value growth. Built in 1954, it is newer than many homes on its street and in the wider area. The living space of 1,224 sqft is typical for the locale, and the property features a renovated basement and a detached garage.
The home’s trajectory is notable: after selling for $310k in 2016 and $330k in 2017, it sold again in late 2024 for $440k. This represents substantial appreciation and suggests the property has been updated or is in a micro-location that buyers value highly. It would suit a buyer looking for a move-in-ready home with modernized basics in a prime, stable neighbourhood, or an investor/owner who appreciates a property with a clear history of strong capital growth. The lot size also offers potential for future expansion or landscaping, which is a less obvious but valuable asset in this mature area.
Frequently Asked Questions
What does "one-and-a-half storey" typically mean for this home?
This style usually features a main floor with principal rooms and a second floor under sloping roof lines, often creating cozy bedrooms with character. It’s a classic Winnipeg design that maximizes space efficiently.
How significant is the recent sale price increase?
The jump from $330k in 2017 to $440k in 2024 is considerable. It indicates strong market demand for the area and likely reflects investments made into the property, such as the basement renovation.
Is the detached garage a plus or a minus?
This depends on preference. A detached garage offers flexibility (e.g., for a workshop) and can reduce noise in the house, but it is less convenient in winter than an attached garage.
The assessed value seems low compared to the sale price. Why?
Municipal assessed value for taxation purposes often lags behind rapid market changes. The 2024 sale price is a much more current indicator of the home’s market value.
What is the neighbourhood vibe on Borebank Street?
As a street within the sought-after Central River Heights, it offers a quiet, residential feel while being minutes from amenities like parks, schools, shops, and major routes. The consistent sales activity on the street itself points to a desirable, active community.