122 Borebank Street – Property Summary
Key Characteristics & Buyer Profile
This is a 1,502 sqft home built in 1931, set on a 4,077 sqft lot in the Wellington Crescent area of Winnipeg. What stands out here is the mismatch between the house and its neighbourhood. The home is larger than average for its own street (top 16%) and above average citywide (top 30%), but it’s well below the typical size for the broader Wellington Crescent area, where the average home is about 2,343 sqft. The same pattern holds for assessed value: the property is valued at $407,000, close to the street average and city average, but far below the community average of $806,000.
In other words, this is a smaller, more modest house in a neighbourhood of much larger, higher-value homes. The land is also smaller than typical—both on the street and in the area. The building itself is older (1931), but not unusually so for the community, where many homes date from around 1940.
The appeal here is likely to a buyer who wants access to a desirable area without paying the premium for a property that matches the neighbourhood’s full scale. It could suit someone who values location over square footage, or someone willing to renovate or rebuild on a smaller lot in a well-regarded area. It may also appeal to downsizers who want to stay in Wellington Crescent but don’t need a large home or yard. The property offers entry into a high-value community at a price point that sits near city averages, not neighbourhood averages.
Frequently Asked Questions
1. How does the property’s size compare to others nearby?
On Borebank Street, this home is in the top 16% for living area, so it’s one of the larger houses on the street. But in the wider Wellington Crescent area, it falls in the bottom 20%—most homes in that community are significantly bigger.
2. Is the assessed value in line with what similar homes sell for?
The assessed value of $407,000 is close to the street average and the city average. It’s well below the community average, which reflects the larger, more expensive homes that dominate Wellington Crescent.
3. How old is the house, and is that typical for the area?
Built in 1931, the house is older than the average home on its street and citywide, but it fits in with the age of homes in the Wellington Crescent area, where the average build year is around 1940.
4. Is the lot size a limitation?
At 4,077 sqft, the lot is smaller than average for the street, the community, and the city. Buyers should be aware that there is less outdoor space than what’s typical in the area.
5. What type of buyer would this property best suit?
Someone who prioritizes being in the Wellington Crescent area but doesn’t need a large home or yard. It could also work for a buyer looking to renovate or redevelop on a smaller scale, without the cost of a full-sized lot or house in the neighbourhood.