Property Overview: 341 Borebank Street, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 341 Borebank Street in North River Heights is a classic, compact property built in 1940. Its key characteristic is its modest scale, with 883 square feet of living space on a 4,800 sqft lot, placing it well below the average size for both the immediate street and the wider neighborhood. This results in a correspondingly lower assessed value ($362k) compared to area averages, offering a more accessible price point within a desirable established community.

The primary appeal lies in its location and value proposition. It represents a genuine entry point into the North River Heights area, known for its mature tree-lined streets and central convenience. This property would suit first-time buyers, downsizers, or investors seeking a character home in a prime location without the premium price tag of a larger, renovated house. It’s a practical choice for those who prioritize location over square footage and see potential in a home that may require updates. A thoughtful perspective is that its smaller size and lot are inherently more manageable, potentially offering lower utility and maintenance costs—a practical advantage often overlooked in favor of sheer space.

Section 2: Frequently Asked Questions

1. Is the assessed value a reliable indicator of the likely selling price?
The assessed value of $362k is a benchmark for municipal taxes. Notably, it sits around the city-wide average but is below the average for North River Heights. Recent sold prices in the area suggest this home could trade within a competitive range, but a professional market evaluation is essential for pricing strategy.

2. How does the smaller living area impact livability?
At 883 sqft, the home is significantly cozier than the neighborhood average. This typically means fewer or smaller rooms and limited storage. It demands efficient use of space and would best suit individuals, couples, or small families comfortable with a more compact footprint.

3. What should I consider with a home built in 1940?
While the build year is typical for the street, an 86-year-old home will likely have older core systems (like plumbing, electrical, and heating) and may require updates or renovations. A thorough home inspection is crucial to understand the condition and any potential upcoming investments needed.

4. What are the advantages of the lot size?
At 4,800 sqft, the lot is standard for the area. It provides a good outdoor space for a garden or recreation without being overly burdensome to maintain. It also aligns with the neighborhood’s character and density.

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