Property Overview: 387 Borebank Street, North River Heights, Winnipeg
Section 1: Key Characteristics & Appeal
This 1,326 sqft home, built in 1941, sits on a 4,500 sqft lot in the established North River Heights neighborhood. Its core appeal lies in offering solid, move-in-ready space in a desirable area at a value-conscious price point, as reflected in its $427k assessed value.
The home’s living area is notably efficient for its street, ranking in the top 29% compared to immediate neighbors, suggesting a well-utilized floor plan that may feel larger than its square footage implies. While the lot size is more compact than others on Borebank Street, it is typical for the wider area, offering manageable outdoor space. The assessed value sits comfortably around the average for the street and neighborhood, but ranks in the top third citywide, indicating a perceived value that holds up well across Winnipeg.
This property would best suit practical buyers seeking character and location over sheer size. It’s ideal for first-time homeowners, small families, or downsizers who prioritize the mature setting and convenience of North River Heights and are comfortable with a home of vintage charm. A thoughtful perspective is that the efficient lot size translates to less maintenance, appealing to those who want a garden or yard without extensive upkeep, while the home’s above-average living space ranking for the street suggests a potentially smarter use of space than surrounding properties.
Section 2: Frequently Asked Questions
1. How does the home’s value compare to recent sales?
The property last sold between $350k-$400k in late 2016. Its current assessed value of $427k is around the average for Borebank Street and North River Heights, but is above the citywide average, suggesting the area commands a premium.
2. Is the lot size a disadvantage?
While the 4,500 sqft lot is below the average for Borebank Street specifically, it is very close to the average for the broader North River Heights area. It provides standard outdoor space for the neighborhood with potentially lower maintenance.
3. What does the "above average" living area ranking mean?
On Borebank Street, this home’s living space (1,326 sqft) ranks in the top 29% of 404 comparable homes. This indicates the house offers more interior space than most on its own street, where the average is about 1,211 sqft.
4. Given the age of the home, what should I consider?
Built in 1941, the home is older than the Winnipeg city average. Prospective buyers should prioritize a thorough inspection to understand the condition and age of major systems like plumbing, electrical, and the roof, which may require updates or maintenance.
5. How can I get the exact historical sold price?
The site provides sold price ranges for non-registered users. To obtain the exact sale figures and full transaction history, you must request a manual lookup via email, as this data is not sourced from the MLS.