Property Overview

This 1954 one-storey home on Borebank Street in Central River Heights presents a classic Winnipeg opportunity. Its primary appeal lies in its generous 6,000 sqft lot, which is notably larger than most in the immediate area and neighbourhood. The house itself, at 1,076 sqft, is modest in size with an unrenovated basement and a detached garage. The data suggests a property where the land value is a significant driver, positioned in a well-established, desirable community. It last sold in 2016 for $280,000.

Key Characteristics & Ideal Buyer

The standout feature is the lot size. In a mature neighbourhood where land is at a premium, owning a parcel in the top 17% for the street offers rare potential for expansion, gardening, or future outdoor enjoyment. The home is a straightforward, post-war bungalow that hasn’t been extensively modernized. This makes it a candidate for a live-in renovation, allowing a buyer to add value over time according to their own taste.

Its appeal is grounded in location and potential rather than immediate move-in readiness. It would suit a practical buyer—perhaps a first-time purchaser with renovation skills, an investor looking for a land-value play in a stable area, or someone seeking the character and space of River Heights without the premium price of a fully updated home. The value here is in what can be built or cultivated, both literally and figuratively, on a substantial piece of land in a prime central neighbourhood.

Frequently Asked Questions

1. What does "unrenovated basement" typically imply?
It usually means the basement is in original or functional condition, but may lack modern finishes, an updated layout, or moisture-proofing standards expected in newer homes. It should be inspected for potential.

2. How significant is the lot size compared to the house size?
Very. The living space is below the neighbourhood average, while the lot is well above average. This significant disproportion highlights the property's potential for an addition, a major renovation, or simply enjoying more private outdoor space than is common in the area.

3. The assessed value seems low. Why is that?
Municipal assessed value for taxation is often lower than market value and can lag behind rapid market changes. The 2016 sale price of $280,000 is a more relevant historical benchmark, though current market conditions will determine its present value.

4. Is the detached garage a drawback?
It depends on preference. A detached garage offers flexibility (e.g., for a workshop) and can reduce noise in the house. However, it is less convenient during Winnipeg winters compared to an attached garage.

5. What is the broader context of the "Below average" sale price ranking?
This ranking reflects its 2016 sale price being higher than almost all comparable sales on the street and in the neighbourhood at that time. It indicates the property was a premium purchase within its immediate peer group when it last sold, which speaks to the enduring desirability of the location and lot.