Property Overview: 368 Borebank Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home at 368 Borebank Street is a classic North River Heights property built in 1940, offering a balanced and established residential profile. Its primary appeal lies in its strong value proposition within a desirable neighbourhood. With 1,248 sqft of living space on a 4,800 sqft lot, the home sits comfortably around the average for its immediate street and area, suggesting a typical, manageable size for the location.
A key characteristic is its assessed value of $465,000, which ranks above average both on its street (top 23%) and city-wide (top 26%). This indicates the property is perceived as a solid asset relative to many peers, potentially due to its lot, condition, or specific location on the block. As a home from 1940, it is older than the typical Winnipeg house, which may appeal to buyers interested in classic character and the established streetscapes of North River Heights, though it implies a need for diligence regarding updates and maintenance.
This property would best suit practical buyers looking for a home in a prime neighbourhood without an extreme premium. It’s a fit for those who value space and lot size that are proportional and manageable, not oversized. It would also appeal to a value-conscious buyer who sees potential in a home that holds a strong assessed value position, possibly as a stable long-term holding in a mature community.
Frequently Asked Questions
1. How does this home’s size compare to others nearby?
At 1,248 sqft, the living area is very close to the average for Borebank Street itself (~1,211 sqft). It is somewhat smaller than the broader North River Heights average, indicating it’s a moderately sized home for this neighbourhood.
2. The assessed value seems high relative to some averages. What does that mean?
The $465,000 assessment ranks well above the city-wide average and is strong for the street. This typically reflects the city’s valuation of the property’s worth relative to its attributes and market area, which can be a positive indicator for equity, though the final market price is determined by buyers.
3. What should I consider about a home built in 1940?
Homes of this age offer charm and established neighbourhoods but require attention to aging components. A thorough inspection is essential to understand the condition of the roof, wiring, plumbing, windows, and insulation, and to plan for any necessary updates or maintenance.
4. Is the lot size typical?
Yes. The 4,800 sqft lot is very close to the average for both Borebank Street and the North River Heights area, providing a standard yard space for the community—neither exceptionally large nor small.
5. Can I find out the exact historical sale price?
The listed sold price range is from public data. For fully verified and exact sale figures from the MLS, you must request a manual lookup from the site provider, as those records are not displayed publicly due to industry regulations.