Property Overview: 263 Borebank Street, North River Heights, Winnipeg

Key Characteristics & Appeal

This is a compact, character home built in 1931, situated on a standard city lot in the established North River Heights neighbourhood. Its primary appeal lies in its location within a desirable area, offering a relatively accessible price point for the neighbourhood. With 758 square feet of living space, it is notably smaller than most homes on its street, in the area, and across Winnipeg, positioning it as a more manageable property.

The assessed value of $398,000 is around the city-wide average but sits below the average for North River Heights, suggesting you are paying for the location more than the size of the home. This creates a specific value proposition: entry into a prime neighbourhood without the premium typically attached to larger houses there. The lot size of 3,002 sq ft is also smaller than typical but provides essential outdoor space.

This property would best suit a first-time buyer, a downsizer, or an investor seeking a lower-maintenance home in a strong location. It’s for someone who prioritizes community and neighbourhood character over square footage, and who may see potential in updating a classic home. A less obvious perspective is that its smaller scale could mean lower utility costs and less upkeep, appealing to those seeking a simpler, more efficient lifestyle without leaving a sought-after part of the city.

Frequently Asked Questions

1. Why is the living area so much smaller than neighbouring homes?
As a home built in 1931, its floor plan reflects the norms of that era. Many surrounding properties have been expanded over time or were built larger in subsequent decades, which is why this home ranks in the bottom tier for size on its street.

2. Is the assessed value a reliable indicator of the listing or sale price?
The assessed value is for municipal tax purposes and is one data point. Notably, it is below the neighbourhood average but close to the city-wide average, which may indicate the seller’s pricing strategy will need to balance the premium location with the home’s smaller size.

3. What are the implications of buying a home built in 1931?
You can expect classic character and likely a solid build, but it is essential to investigate the condition of major aging components like the roof, plumbing, wiring, and foundation. A thorough inspection is crucial.

4. The data shows no sales history for this listing. How can I get that information?
As noted on the detail page, sold price data here is from public sources and may be incomplete. You can request exact historical sales figures directly via the provided email request form, and the team will manually look up and provide the information.

5. How does the smaller lot size affect the property?
The lot is functional but offers less private outdoor space than many in North River Heights. This could limit expansion possibilities like a large addition or pool, but it also means less yard maintenance, which some buyers may prefer.