Property Summary: 171 Borebank Street, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 171 Borebank Street in North River Heights presents a distinct profile defined by its historical roots and its position relative to the local market. Built in 1921, it is one of the older homes on its street and in the wider area, offering classic character. With 1,310 sqft of living space, the interior size is reasonably aligned with area averages. However, its key differentiators are its assessed value and lot size. The assessed value of $314k is notably below the averages for both its immediate street and the North River Heights neighbourhood, though it is closer to the city-wide average. The lot of 3,002 sqft is also smaller than most in this desirable area.

The primary appeal lies in the opportunity to enter the well-regarded North River Heights community at a potentially more accessible price point, thanks to its below-average assessment. It suits a specific type of buyer: those who value location and character over sheer size and are comfortable with a home that may require updates. It could be an ideal project for a handy buyer or an investor, or a practical entry into the neighbourhood for a first-time buyer willing to trade a smaller, older lot for the area's amenities and prestige. A less obvious perspective is that a smaller lot can mean lower maintenance costs and less yard work, which can be a practical advantage.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the neighbourhood average?
The assessment is likely lower due to a combination of the home's age (1921), its smaller lot size relative to neighbours, and potentially the interior condition or layout compared to more recently updated or larger homes in North River Heights.

2. What does the "Sold 8/2019 CA$250k–300k" price indicate?
This shows the home was last sold in August 2019 for an estimated price within that range. It provides a historical benchmark, but the current market value would be determined by recent comparable sales, condition, and today's market conditions.

3. Are there concerns with a house built in 1921?
While offering charm, a home of this age may have older building materials, electrical, plumbing, or insulation systems. A thorough professional inspection is essential to understand the condition and anticipate any needed repairs or updates.

4. How does the smaller lot size impact living here?
The 3,002 sqft lot provides less private outdoor space than is typical for the area. This could limit expansion possibilities like a large addition or pool, but it also means less yard maintenance.

5. Where can I get the exact historical sold prices for this property?
The site notes that exact sold figures are not displayed publicly due to industry rules. You can request the exact sold price history by emailing them directly, and they will provide the information manually.