Property Overview
This 1929 home at 295 Borebank Street in North River Heights presents a distinct profile. At 1,348 sqft, it offers more living space than many homes on its street, ranking in the top 28%. Its assessed value of $365k sits below the averages for both the immediate street and the broader North River Heights neighbourhood, suggesting a potentially accessible entry point into this established area. The lot size of 4,201 sqft is more compact than most comparables. Recent sale history indicates steady value in the $350k-$400k range over the past several years.
Key Characteristics & Appeal
The primary appeal of this property lies in its value proposition within a desirable neighbourhood. It offers above-average interior space for Borebank Street at an assessed value that is notably below area averages. This combination could attract first-time buyers or downsizers seeking the character and location of North River Heights without the premium price tag of larger lots or fully renovated homes. Its 1929 vintage means it likely has classic charm but also requires a buyer comfortable with the maintenance and potential update needs of a near-century-old home. The compact lot is a trade-off, offering lower yard maintenance but less private outdoor space than many neighbours.
Frequently Asked Questions
1. Is the lower assessed value a red flag?
Not necessarily. It primarily reflects the home’s value for taxation purposes relative to nearby properties. It can indicate a more affordable entry point into the area, but buyers should always complete their own due diligence to understand the home's condition and market value.
2. What does the sale history tell us?
The home has sold three times since 2016, each time within the $300k-$400k range. This pattern suggests a stable, predictable value in the market without extreme fluctuations, which can be appealing for long-term planning.
3. How does the lot size impact living here?
At 4,201 sqft, the lot is smaller than most on the street and in the area. This typically means less yard work and lower exterior maintenance costs, but also less space for gardens, play areas, or expansive outdoor entertaining.
4. Who might this home not suit?
Buyers seeking a large, private yard or a move-in-ready newer build may find it less ideal. It’s better suited for those who value location and interior space over lot size and who are prepared for the realities of an older home.
5. How can I verify the exact past sale prices?
The provided data shows price ranges. For precise figures, you must request a manual lookup from the site via email, as they do not display MLS sold records due to industry regulations.