142 Borebank Street – Property Summary
Key Characteristics & Buyer Profile
This is a 1929 home with 972 square feet of living space on a 5,996-square-foot lot, with an assessed value of $368,000. The property sits on Borebank Street, within the Wellington Crescent neighbourhood in Winnipeg.
What stands out here is the land. The lot is slightly above average for the street (top 41%) and for the city (top 33%)—a meaningful advantage in a neighbourhood where many lots are larger but also much more expensive. The house itself is modest in size, which is reflected in its below-average rankings for living area and assessed value on both the street and neighbourhood level. Citywide, the assessed value lands right around average (top 48%), suggesting the value is not in the house but in the land and location.
The appeal is likely for buyers who want to be in the Wellington Crescent area but can’t or don’t want to pay for a 2,300-square-foot home on a 9,500-square-foot lot—which is the neighbourhood average. This property offers a smaller, more manageable footprint with a generous yard, in a desirable older neighbourhood. It would suit someone looking to renovate or rebuild, or a buyer who values outdoor space and a central location over square footage indoors. It may also appeal to those who prefer pre-war construction and character, though the 1929 build is older than most on the street.
Frequently Asked Questions
1. How does the assessed value compare to other homes in the neighbourhood?
The assessed value is $368,000, which is below the neighbourhood average of $805,600 and ranks in the bottom 91% of comparable homes. However, citywide it’s right around average. The low neighbourhood ranking mostly reflects how expensive Wellington Crescent properties are, not that this home is overpriced for what it offers.
2. Is the living area unusually small for the street?
Yes. At 972 square feet, it’s below the street average of 1,211 square feet and well below the neighbourhood average of 2,343 square feet. This is part of why the property is more affordable—you’re paying for the location and lot, not for interior space.
3. What’s the advantage of the land size?
The lot is 5,996 square feet, which is larger than the typical Borebank Street lot (5,265 sq ft) and slightly above the citywide average (6,570 sq ft). In a neighbourhood where many lots are close to 10,000 square feet, this is a more modest but still generous amount of land—enough for a garden, a garage, or outdoor entertaining without the upkeep of a much larger property.
4. Is the house a good candidate for renovation or rebuilding?
That depends on your goals. The age (1929) and below-average living area suggest the home could benefit from updates or an addition, but you’d want to check zoning, condition, and any heritage restrictions. The lot size and location are the main assets here, so buyers often look at these properties with an eye to future development or major renovation.
5. How does the year built affect the property’s value or appeal?
The home was built in 1929, which is older than the citywide average (1966) and older than most homes on the street (average 1947). In a neighbourhood like Wellington Crescent, older homes are common and often well-built, but you should expect maintenance considerations typical of pre-war construction—like plaster walls, knob-and-tube wiring, or lead pipes. For buyers who appreciate character or want a project, this can be a positive.