136 Borebank Street – Property Summary
Section 1: Key Characteristics & Buyer Profile
This property is a 1926-built home with 874 sq. ft. of living space on a 4,077 sq. ft. lot. Its assessed value is $329,000. The home is located on Borebank Street within the Wellington Crescent neighborhood of Winnipeg.
The property’s main appeal lies in its affordability relative to the surrounding area. While it ranks below average in living area, lot size, and assessed value when compared to other homes on the same street and in the affluent Wellington Crescent neighborhood, it sits much closer to the citywide average. The year built is also older than the city average, but in line with the neighborhood's character.
This home would suit a buyer who:
- Is looking for a more affordable entry point into a prestigious, established neighborhood.
- Values location and potential over immediate square footage or a large lot.
- Is comfortable with an older home and may be open to renovations or updates over time.
- Prioritizes being in a specific school catchment or close to the Wellington Crescent amenities, rather than having a home that competes with the area’s larger, more expensive properties.
Section 2: Five Possible FAQs
1. How does the living space compare to other homes in the area?
The 874 sq. ft. is below average for Borebank Street (avg. 1,211 sq. ft.), the Wellington Crescent neighborhood (avg. 2,343 sq. ft.), and the city overall (avg. 1,342 sq. ft.). It ranks in the bottom 11% on its street and bottom 14% citywide.
2. The assessed value seems low for the neighborhood. Why?
The $329,000 assessment reflects the home’s smaller size and older construction relative to the neighborhood average of $805,600. However, it’s around the citywide average for comparable homes ($390,100), suggesting the assessment is based on the property’s specific characteristics rather than the surrounding expensive real estate.
3. Is the lot size a major drawback?
The 4,077 sq. ft. lot is below average for the street (5,265 sq. ft.) and significantly smaller than the neighborhood average (9,488 sq. ft.). It’s also smaller than the citywide average for comparables (6,570 sq. ft.), ranking in the bottom 27% citywide. Buyers should expect a modest yard.
4. How does the home’s age affect its value or ranking?
Built in 1926, the home is older than the average on its street (1947) and the city average (1966). Within the Wellington Crescent neighborhood, where the average build year is 1940, it’s around the median. Age can mean character and solid construction, but may also require more ongoing maintenance compared to newer homes.
5. What does "below average" in the ranking actually mean for a buyer?
It means the property is at a lower end of the scale for size, value, and lot when compared directly to neighbors. But for a buyer, this often translates to a lower purchase price and property taxes than most other homes in the same desirable area. The trade-off is less space and a smaller lot, not a reflection of the home’s condition or livability.