108 Borebank Street – Property Summary

Key Characteristics & Buyer Profile

This is a 1,120 sqft single-family home built in 1950, sitting on a 4,196 sqft lot in the Wellington Crescent area of Winnipeg. Its assessed value for property tax purposes is $473,000.

The property’s appeal lies in its balance of size and value. While the living space (1,120 sqft) is slightly below the Winnipeg average (1,342 sqft), the assessed value is notably above the city average ($390,000) and sits in the top 24% citywide. This suggests a property that holds its value well relative to its square footage. The home is newer than the typical Wellington Crescent property (where many homes date to around 1940), and its lot is smaller than average both locally and citywide—something to note if outdoor space is a priority.

A less obvious point: the high assessed value relative to square footage may reflect the property’s location within a desirable street (Borebank Street ranks in the top 20% for value), rather than any particular size or age advantage. Buyers are essentially paying for the address and the neighbourhood’s reputation, not for extra space or a large yard.

This property would suit buyers who prioritize location over square footage—someone who values being in the Wellington Crescent area but doesn’t need a large home or sprawling lot. It may also appeal to those looking for a more modestly sized home in a higher-value area, possibly as a starter home or a downsizing option where the land value is expected to appreciate.

Five Possible FAQs

1. How does the living space compare to other homes in the area?
On Borebank Street, the 1,120 sqft is close to the street average of 1,211 sqft. In the wider Wellington Crescent area, it is well below the average of 2,343 sqft—meaning this is a smaller home relative to its neighbours in the community.

2. Is the property overpriced for its size?
The assessed value of $473,000 is above the city average and well above the Borebank Street average of $426,000. However, it is significantly below the Wellington Crescent average of $806,000. The value reflects the street’s standing, not the home’s size.

3. What is the condition of a 1950-built home?
No condition information is provided here, but homes from 1950 are common in Winnipeg. Buyers should budget for potential updates to systems (electrical, plumbing, insulation) that may be original or nearing end of life, especially given that this home is newer than much of the surrounding neighbourhood.

4. Why is the lot size so much smaller than average?
At 4,196 sqft, the lot is smaller than the Borebank Street average (5,265 sqft) and far smaller than the Wellington Crescent average (9,488 sqft). This is typical of infill or tighter subdivisions within established neighbourhoods. The property likely has limited outdoor space, which may be a trade-off for its location.

5. Is this a good investment property?
The assessed value ranks in the top 24% citywide, suggesting stable value relative to the city. However, the smaller lot and living space may limit resale appeal to buyers seeking more space. It may work best as a long-term hold in a desirable area rather than a short-term flip.