Property Overview: 496 Borebank Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home is a classic North River Heights bungalow, built in 1946, offering a practical entry point into one of Winnipeg's established, tree-lined neighborhoods. With 884 sqft of living space, it is notably compact compared to most area homes, placing it in the smaller 15% of houses locally. The lot size of 4,319 sqft is also below the neighborhood average. However, its assessed value of $409k is very much in line with area norms, suggesting the price reflects the desirable location more than the size of the home itself.
The primary appeal lies in securing a foothold in a prime, central neighborhood without the premium typically attached to larger properties on the street. It suits first-time buyers, downsizers, or investors seeking a lower-maintenance property in a top area. A thoughtful perspective is that this home represents a "land value play" in a mature neighborhood; the structure is modest, but the value is sustained by its setting. It’s for a buyer who prioritizes community and location over square footage, and who may see potential in thoughtful updates to a manageable space.
Frequently Asked Questions
1. Is this house significantly smaller than its neighbors?
Yes. The living area is smaller than approximately 86% of homes on Borebank Street and 92% of homes in North River Heights, making it a more compact option in the area.
2. How does its value compare to similar homes?
Its assessed value is around the middle of the pack locally. It ranks almost exactly average on its own street and is slightly above average compared to the entire city, indicating you are paying for the location within a sought-after neighborhood.
3. What is the history of recent sales for this property?
According to available data, the home sold previously in August 2022 for between $300k-$350k and again in September 2023 for between $400k-$450k. For exact sale prices, a manual lookup via the site is required.
4. Is the lot size a disadvantage?
While below the average for North River Heights, the lot is still a good size at over 4,300 sqft. It offers ample outdoor space for a garden or patio while requiring less upkeep than larger lots nearby.
5. How does the age of the home compare?
Built in 1946, it is newer than about 80% of homes in North River Heights, which is a neighborhood with many heritage properties. This suggests it may have fewer inherent age-related concerns than many area comparables.