708 Borebank Street

Property Overview: 708 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. Built in 1953, the house itself is of average age for the street but features a renovated basement, adding modern livable space to its 999 sqft main floor. A detached garage provides additional storage or parking.

The primary appeal lies in its land value and location. The lot size is a significant asset, offering ample outdoor space and potential in a sought-after, established neighbourhood. It suits buyers looking for a solid entry into a prime area, where the value is anchored by the property rather than a large or modern house. It’s ideal for downsizers, first-time buyers comfortable with a cozy main floor, or investors who see value in the lot’s future potential. The recent renovation of the basement also suggests it’s been partially updated for contemporary living.

Section 2: Frequently Asked Questions

1. How does the lot size compare to nearby properties?
The 6,000 sqft lot is a standout feature, placing it in the top 17% on Borebank Street and the top 22% within Central River Heights. It offers more private outdoor space than is typical for the area.

2. Is the living space smaller than average?
Yes. With 999 sqft of main floor living area, the house is below the neighbourhood average. However, the renovated basement provides additional finished space, effectively expanding the usable square footage.

3. What does the assessed value indicate?
The assessed value is around average for the street and neighbourhood. This can suggest the property is priced in line with its fundamentals, with the market price likely reflecting additional factors like the renovated basement and the desirable lot.

4. The home sold in late 2020. What might that mean for its condition?
Since the last sale, the basement has been renovated. This indicates the current owners have invested in an update, but a buyer should still investigate the condition of major systems (roof, plumbing, electrical) common in a home of this age.

5. Who would this property not suit?
It may not be the best fit for buyers seeking a large, open-concept modern home or those who prioritize extensive above-ground square footage. The layout and size are more characteristic of a classic, compact bungalow.