Key Characteristics & Buyer Profile

This 1,040 sq ft home, built in 1959, sits on a 6,240 sq ft lot in Winnipeg’s South River Heights neighbourhood. Its standout feature is the land: the lot is larger than 72% of properties on the same street, 72% in the broader area, and 74% citywide. That kind of yard—especially in an established inner-ring suburb—offers something many newer builds can’t: mature trees, space for gardens, and room to expand if zoning allows.

The home itself ranks in the bottom third for living area compared to nearby properties, so it’s compact for the neighbourhood. But the assessed value ($448,000) is ahead of 70% of properties on Borebank Street and 71% citywide, which suggests the land is driving value more than the house. The 1959 build is older than most on its street (only 7% of nearby homes are older), so it might need updates, but it also means construction quality from that era can be solid.

This property would suit a buyer who values location and lot size over square footage. It’s a good fit for someone willing to renovate or build new, or for a household that doesn’t need a massive interior but wants outdoor space in a walkable, established area. It may also appeal to investors looking at the land value in a desirable school-catchment neighbourhood, where smaller homes are often redeveloped.

Frequently Asked Questions

1. How does the home’s size compare to others nearby?
The living area of 1,040 sq ft is smaller than about 92% of homes in South River Heights and 68% on Borebank Street. It’s a modest footprint for the area, so if you need multiple large bedrooms or an open-concept great room, this may feel tight without renovation.

2. What does the assessed value reflect about the property?
The $448,000 assessment is above average for the street and city but below the South River Heights median of $503,000. That gap likely means the house itself needs work or is smaller than typical homes in the immediate area, while the lot still holds strong value.

3. Is the lot suitable for an addition or new construction?
At 6,240 sq ft, the lot is generous for the street and area. Whether you can build an addition or tear down and rebuild depends on current zoning, setbacks, and permit restrictions. A check with the city’s planning department is wise, but the lot size alone puts it in a strong position for those options.

4. What condition is a 1959 home likely to be in?
That’s hard to say from stats alone. Homes from that era often have good bones—solid framing, plaster or drywall, sometimes original hardwood. But systems like electrical, plumbing, and the roof may be end-of-life if not updated. An inspection is essential.

5. How does this property compare to others in the same price range?
Compared to other homes around $448,000 in Winnipeg, this one likely offers a bigger lot than average, but less indoor space and an older structure. It’s not a turnkey family home for that price—it’s more of a value-in-land situation.