Property Overview: 659 Borebank Street, Winnipeg

Section 1: Key Characteristics & Appeal

This well-situated one-storey home in Central River Heights sits on a notably generous 6,000 sqft lot, placing it within the top 17% for land size on its street. Built in 1953, the house features a renovated basement and a detached garage. With a living area of approximately 1,134 sqft, the interior space is functional and typical for the area, but the property’s primary appeal lies in its land and location.

The appeal is grounded in its above-average outdoor space within a mature, established neighbourhood. It offers a blank canvas: the renovated basement adds immediate utility, while the large lot presents long-term potential for gardening, expansion, or simply enjoying more private outdoor room than many city properties provide. It suits a practical buyer who values space over sheer square footage—perhaps a first-time homeowner looking for a foothold in a desirable area, someone seeking a manageable single-level layout, or an investor recognizing the inherent value in the land. It’s a property where the value is less about luxury finishes and more about solid fundamentals and future possibility.

Section 2: Frequently Asked Questions

1. Is the assessed value the same as the market value?
No. The listed assessed value of $41.9k is for municipal tax purposes. The last known sale price was $37.5k in early 2022. The current market value would be determined by recent sales of comparable properties, current condition, and market trends.

2. How does the lot size compare practically?
At 6,000 sqft, the lot is significantly larger than the average for both Borebank Street (~5,265 sqft) and Central River Heights (~5,581 sqft). This means more yard space, greater distance from neighbours, and potentially more flexibility for projects like adding a shed, deck, or garden.

3. What does "renovated basement" typically mean for a 1953 home?
While specifics would require an inspection, this usually indicates updates to make the space livable or functional, such as improved flooring, lighting, and possibly moisture control. It’s important to clarify the scope, permits, and the current condition of foundational elements like the foundation walls and floor.

4. The home ranks "around average" for living area. Will it feel small?
At 1,134 sqft, the living area is consistent with many classic one-storey homes in the area. The layout and the addition of a renovated basement will greatly influence the sense of space. For some, the trade-off of a single level and a large yard for slightly less interior square footage is a positive one.

5. What is the context of the 2022 sale price?
A sale price of $37.5k in early 2022 likely reflects the property’s condition and the market at that specific time. It serves as a historical data point, but the market and the property itself may have changed significantly since then, making a current appraisal or market evaluation essential.