Property Overview: 249 Borebank Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 249 Borebank Street in North River Heights is defined by its practicality and position within a desirable, established neighbourhood. Built in 1926, it is a century-old character home with a modest 869 sqft of living space and a 3,602 sqft lot, both notably smaller than area averages. Its assessed value of $321k is below the local neighbourhood average but aligns more closely with the wider Winnipeg average, presenting a relative value proposition.
The primary appeal lies in securing an entry point into the sought-after North River Heights community, known for its mature trees and central location, without the typical premium price tag. Its smaller scale translates to lower property taxes and manageable upkeep, a significant consideration for cost-conscious buyers. This property would suit a first-time homebuyer, a downsizer looking to rightsize, or an investor seeking a character home in a stable area. A thoughtful perspective is that its compact size and older vintage offer a chance for a mindful, lower-footprint lifestyle in a prime location, appealing to those who prioritize community amenities over square footage.
Section 2: Frequently Asked Questions
1. Is this a "fixer-upper" due to its age?
While being 100 years old suggests potential for older-home maintenance, the assessed value is stable. A pre-purchase inspection is essential to understand the condition of major systems like plumbing, electrical, and the foundation.
2. Why is the assessed value lower than the neighbourhood average?
The assessment reflects the home's smaller size and lot relative to most homes in North River Heights. It’s priced for its specific attributes, not the neighbourhood peak, which can be an advantage for affordability.
3. How does the smaller lot size impact the property?
The lot is functional but offers less private outdoor space than others on the street. This limits expansion potential but reduces yard maintenance—a trade-off that may appeal to those seeking a low-maintenance property.
4. The last sale was between $250k-$300k in 2020. What does that indicate?
This historical sale price suggests the property has appreciated in assessed value since then, consistent with market trends. It underscores the importance of a current market evaluation to determine its present-day listing and sale value.
5. Can I see the exact past sale prices?
The provided data shows approximate price ranges. To obtain verified, exact sale figures and a full transaction history, you must request a manual lookup from the site via email, as they do not display MLS records.