Property Overview: 303 Borebank Street, Winnipeg
Key Characteristics & Appeal
This home presents a distinct value proposition centered on its generous 6,001 sqft lot in the established North River Heights neighborhood. Built in 1930, its 907 sqft living area is notably compact compared to area averages, suggesting a classic, efficient layout. The assessed value of $363k sits below the neighborhood average, positioning it as a more accessible entry point into this desirable area.
The primary appeal lies in the land-to-structure ratio. The lot size ranks in the top 14% on its street and top 13% in North River Heights, offering significant outdoor space and potential for gardens, expansion, or future development, subject to zoning. This makes it a standout among similarly priced homes. It suits buyers prioritizing lot size over square footage—such as downsizers seeking private outdoor space, first-time buyers willing to renovate or expand over time, or investors attracted by the underlying land value in a prime location. Its recent sale history (2022, 2023) indicates a turnkey property, likely appealing to those wanting a manageable, low-maintenance home in a mature community without a major project.
Frequently Asked Questions
1. Is the house too small for a family?
While the living area is below average, the large lot provides crucial flexible space. It could suit a small or young family, especially if the layout is efficient or there is potential to finish a basement or add on in the future.
2. Why is the assessed value lower than the neighborhood average?
The assessment reflects the home's smaller size and age relative to many larger, updated homes in North River Heights. It primarily represents the value of the land combined with a modest-sized dwelling.
3. What does the recent sale activity indicate?
The property sold in 2022 and again in 2023. This could suggest recent updates or a quick resale, but it's important to request the exact sale price history (available via the site's email service) to understand the price trajectory and context.
4. How does the lot size compare to a typical city lot?
At just over 6,000 sqft, it is larger than the average lot in both North River Heights and on its own street, but is closer to the city-wide average. It offers more private outdoor space than most immediate neighbors.
5. What are the implications of a 1930s build?
This age brings character but requires diligent inspection for the condition of original systems like wiring, plumbing, and the foundation. It also falls within an era of homes known for solid construction and mature landscaping.