Property Overview: 435 Borebank Street, Winnipeg
Key Characteristics & Appeal
This 1941 home in North River Heights presents a practical opportunity. At 970 sqft, the living space is notably compact, ranking below average for both the street and the wider neighbourhood. This positions it as a more manageable, lower-maintenance footprint. Its primary appeal lies in its value proposition: with an assessed value of $345,000, it sits well below the neighbourhood average, offering a more accessible entry point into a desirable area. The lot size of approximately 5,400 sqft is a standout feature, offering above-average outdoor space for the immediate area, which is a significant asset for gardening, play, or future expansion.
The home would suit first-time buyers or downsizers seeking the established, tree-lined character of North River Heights without the typical price tag. Its size suggests efficiency over grandeur, appealing to those who prioritize location and lot over square footage. A thoughtful perspective is that this property represents the "bones" of the neighbourhood—a chance to own a solid, older home on a good-sized lot where the value has historically been in the land and location, allowing new owners to tailor the space to modern needs over time.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
While the assessed value of $345k is a municipal benchmark for taxes, market conditions ultimately determine sale price. Notably, it's below average for North River Heights but closer to the city-wide average, suggesting its price reflects its smaller size within a premium area.
2. How does the home's size compare to others nearby?
At 970 sqft, the living area is smaller than most comparable homes on Borebank Street and in North River Heights. This indicates a cozier, more efficient layout rather than a sprawling one.
3. What are the implications of the larger lot size?
The 5,399 sqft lot is larger than many in North River Heights. This provides valuable outdoor space and could offer potential for additions, a garden, or landscaping projects that wouldn't be possible on a standard lot in the area.
4. What is the historical sales context for this property?
Public records indicate it last sold in July 2021 for between $350,000 and $400,000. For precise historical sale figures, a manual lookup through the site's service is recommended.
5. Are there similar homes available for comparison?
Nearby properties like 480 Borebank St. (836 sqft, $317k assessed) and 454 Campbell St. (1,152 sqft, $390k assessed) provide useful benchmarks for size and value in the immediate vicinity.