Property Summary: 252 Borebank Street, Winnipeg
Key Characteristics & Appeal
This home is a compact, nearly century-old property in the established North River Heights neighbourhood. Its key characteristic is its modest scale: at 746 sqft of living space on a 3,002 sqft lot, it is notably smaller than most homes on its street and in the wider area. The 1927 build date places it among the older homes locally. The assessed value of $280k is significantly below the averages for North River Heights, though closer to the city-wide benchmark.
The primary appeal lies in its position as a potentially accessible entry point into a desirable, mature neighbourhood. It suits buyers seeking a lower-priced foothold in North River Heights, possibly first-time homeowners, downsizers looking to rightsize, or investors interested in a character property. Its smaller size and lot suggest lower maintenance costs and utility expenses, which can be a thoughtful trade-off for location. The price point, especially relative to the area, may also appeal to those willing to undertake gradual updates to an older home.
Frequently Asked Questions
1. Is this a good value for the neighbourhood?
Based on assessed values, this property is priced well below the neighbourhood average, which is typically over $475k. This suggests you are paying a significant discount for location, largely due to the home's smaller size and age.
2. What should I consider about a home built in 1927?
While full of character, a home of this age will likely have older building systems (like plumbing, wiring, and heating) and may require updates to meet modern efficiency and safety standards. A thorough inspection is essential.
3. The living space is quite small. How does the layout work?
At 746 sqft, efficient use of space is critical. Prospective buyers should pay close attention to the floor plan to ensure it meets their daily needs, as renovations to significantly alter the layout in an older, smaller home can be complex and costly.
4. How does the lot size affect the property?
The lot is smaller than most in the area, which means less outdoor maintenance but also limited potential for expansions like large additions or decks. It’s important to verify local zoning bylaws for any future development plans.
5. The sold price history shows a range. How can I get the exact figures?
The site provides sold price ranges based on public data. To obtain the exact historical sale prices for this property, you must request a manual lookup via email from the site administrators, as they do not display MLS records directly.