Property Overview: 327 Borebank Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This 816 sqft bungalow, built in 1939, sits on a standard 5,041 sqft lot in the established North River Heights neighborhood. Its core appeal lies in its position as a competitively priced entry point into a desirable area. With an assessed value of $375,000, it sits notably below the average for both its street and neighborhood, while being closer to the Winnipeg-wide average. This presents a value proposition for gaining access to the community's mature trees, quiet streets, and amenities.
The home’s living area is compact, ranking in the lower tier compared to most peers locally. This characteristic defines its ideal buyer: a first-time homebuyer, a downsizer, or an investor seeking a manageable property. It suits those who prioritize location and lot potential over immediate square footage, as the modest interior may require efficient use of space or future expansion. A thoughtful perspective is that its lower assessment, relative to the area, could provide a slightly softer entry point for property taxes. Its last known sale was between $400k-$450k in mid-2021.
Frequently Asked Questions
1. Is the house particularly small for the area?
Yes. The living area of 816 sqft is significantly below the local averages for North River Heights (approx. 1,540 sqft) and even for Borebank Street itself (approx. 1,211 sqft). It is one of the more compact homes in the vicinity.
2. How does the assessed value compare?
The $375,000 assessment is below the neighborhood average but around the middle compared to all Winnipeg homes. This suggests you may be paying less for the location than many neighbors did, though market value can differ.
3. What can you tell me about the last sale?
Public records indicate the property sold in June 2021 for a price between $400,000 and $450,000. For verified, exact historical sale figures, a manual records lookup is required.
4. Is the lot size a positive feature?
The lot is fairly typical for the immediate area, at just over 5,000 sqft. It is not unusually large or small for North River Heights, but it is smaller than the city-wide average lot.
5. What are the possible implications of the 1939 build date?
Built 87 years ago, the home is older than most on its street. This typically means potential for classic architectural charm but also underscores the importance of a thorough inspection to understand the condition of major systems, insulation, and any updates.