Property Overview: 433 Borebank Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This is a well-established, mid-century home built in 1941, situated on a standard 4,800 sqft lot in the desirable North River Heights neighborhood. With 1,137 sqft of living space and a current assessed value of $433,000, it presents as a solid, average offering within its immediate context. Its appeal lies in its positional balance: it’s a home that doesn’t stand out for extreme size or value but fits comfortably within the norms of its sought-after street and area. This suggests a property that is unlikely to be over-improved for the block, offering a manageable scale for upkeep.
The data reveals thoughtful nuances. While the home’s size is below the North River Heights average, its assessed value ranks higher than the Winnipeg citywide average, underscoring the premium commanded by the location. The lot size is consistent with the neighborhood, offering typical outdoor space for the area. This property would suit a buyer looking for an entry point into a mature, stable community without the footprint or price of a larger estate home. It’s a practical choice for small families, downsizers, or investors seeking a character home in a prime location, where the value is anchored more in the neighborhood than in the property’s specific specifications.
Frequently Asked Questions
1. How does this home’s value compare to its neighbors?
The home’s assessed value of $433k is very close to the average on Borebank Street ($426k) and in North River Heights ($479k). It ranks in the top 36% on its own street, indicating it is viewed as a relatively solid value within that specific, desirable row of properties.
2. Is the living space smaller than typical for the area?
Yes. At 1,137 sqft, it is notably below the North River Heights average of 1,540 sqft, ranking in the bottom quartile for the neighborhood. However, it is much closer to the average for Borebank Street itself (1,211 sqft) and the Winnipeg-wide average (1,342 sqft), indicating the home’s scale is consistent with many city properties but on the modest side for this particular community.
3. What can the 2017 sale price tell us?
The home sold between $350k-$400k in mid-2017. Comparing this to the current $433k assessment shows the market’s upward trajectory over seven years. The exact sale price (available upon request) would provide a precise benchmark for calculating appreciation.
4. How does the lot size compare?
At 4,800 sqft, the lot is slightly smaller than the Borebank Street average but very close to the North River Heights average. It offers a standard-sized yard for the community, which is still larger than many newer city lots.
5. The home was built in 1941. What should I consider?
Built 85 years ago, it is older than the average Winnipeg home. This suggests potential for classic architectural charm but also necessitates a thorough inspection for the condition of major aging components like the roof, plumbing, electrical, and foundation, which may require maintenance or updating.