654 Borebank Street

Property Overview: 654 Borebank Street, Winnipeg

Section 1: Key Characteristics & Appeal

This well-situated one-storey home in Central River Heights sits on a generously sized 6,000 sqft lot, which is notably larger than most in the immediate area and neighbourhood. Its key features include a renovated basement and a detached garage. Built in 1953, the house itself offers 1,080 sqft of living space, presenting a classic layout typical of its era.

The primary appeal lies in its location and land. The lot size is a significant asset, offering ample outdoor space for gardening, play, or future expansion in a sought-after, established neighbourhood. The renovated basement adds valuable finished space for living or storage. This property suits buyers looking for a solid entry into a prime Winnipeg community, where the value is anchored by the land. It’s ideal for those comfortable with a home of vintage character who may see potential in the existing structure or the possibility of leveraging the large lot for future investment.

A less obvious perspective is its statistical positioning: while the home’s living area is modest for Central River Heights, its lot size is a standout feature. This creates an interesting value proposition where the land itself may be a more significant driver of long-term worth than the current structure, appealing to both end-users and strategic investors.

Section 2: Frequently Asked Questions

1. How does the lot size compare to others?
The 6,000 sqft lot is in the top 17% on Borebank Street and the top 22% within Central River Heights, meaning it is substantially larger than many neighbouring properties.

2. Has the home been recently sold?
Yes, it was last sold in January 2023 for $380,000.

3. What is the home’s assessed value?
The assessed value is $41,300. It’s important to note that this is for taxation purposes and typically differs from market value.

4. Is the basement finished?
Yes, the listing specifies the basement has been renovated.

5. How does the living space compare to the neighbourhood average?
At 1,080 sqft, the living area is below the average for Central River Heights, indicating a more compact main floor footprint common for its vintage, with the renovated basement providing additional usable space.