Property Overview: 277 Borebank Street, North River Heights, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This is a compact, character home built in 1930, situated on a standard lot in the established North River Heights neighborhood. Its key characteristic is its modest scale: at 860 sqft, the living area is notably smaller than most homes on its street, in the area, and across Winnipeg. The lot size of 3,963 sqft is also below average for its immediate context. However, its assessed value of $402k is competitive, sitting around the city-wide average and suggesting value is derived from location and land rather than sheer size.
The appeal lies in a classic Winnipeg trade-off: securing a home in a desirable, central neighborhood at a relatively accessible price point by opting for a smaller footprint. It suits first-time buyers or downsizers who prioritize location and community over space, and who may see potential in updating a character property. A less obvious perspective is that its below-average size and lot, within an area of larger homes, could represent a lower-maintenance entry point into the neighborhood without the premium for a expansive property. It’s a practical choice for those comfortable with efficient living in a prime area.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
The assessed value ($402k) is a municipal figure for tax purposes. Notably, it's below the area average but above the city-wide average. Recent sold price data for this home (2020, 2021) fell in the $350k-$400k range. The eventual sale price will depend on current market conditions, the home's interior condition, and buyer demand.
2. How does the smaller living area impact daily life and resale?
At 860 sqft, the home requires efficient use of space and likely has fewer or smaller rooms than modern expectations. This can mean lower utility costs and less upkeep. For resale, it appeals to a specific segment (e.g., singles, couples, empty-nesters) but may not suit families needing more room, which can affect buyer pool size.
3. What are the implications of the 1930 build date?
A home of this age often possesses character details but may also require careful attention to aging components like plumbing, electrical, windows, and insulation. A thorough inspection is essential. On its street and in its area, its age is not unusual, blending into the neighborhood's established fabric.
4. The lot is smaller than others on the street. Is that a major drawback?
While the lot is below the street average, at nearly 4,000 sqft it still provides reasonable outdoor space for a garden, patio, or deck. The difference may be less about total utility and more about a slightly closer proximity to neighboring homes compared to others on the block.
5. How can I verify the exact past sale prices mentioned?
The site provides sold price ranges based on public data. To obtain fully verified, exact historical sale figures, you must request a manual lookup via email, as this information is not sourced from the MLS and is provided as a courtesy service.