146 Borebank Street: Property Summary

Key Characteristics & Buyer Profile

This is a 2018-built home with 1,915 square feet of living space on a 2,998-square-foot lot, located in Winnipeg’s Wellington Crescent area. The property ranks exceptionally well for its assessed value (top 1% on the street, top 2% citywide), year built (top 1% on the street), and living area (top 3% on the street). However, its land area is notably small—ranking near the very bottom on its street (402 out of 404) and in the neighborhood (540 out of 548). This creates an unusual profile: a newer, high-value home on a compact lot in a neighbourhood where large, older lots dominate.

The appeal lies in the combination of modern construction and prime location. Buyers get a recently built house without the compromises often found in newer infill developments, such as awkward layouts or cheap finishes. It also avoids the maintenance and renovation costs typical of older homes in the area. The trade-off is clear: you gain efficiency and valuation, but you lose outdoor space and the sense of a large, private yard.

This property would suit a buyer who values interior quality, low upkeep, and strong resale positioning over land. It likely appeals to professionals, downsizers, or small families who want a Wellington Crescent address but don’t need a sprawling lot. It would be less suitable for someone looking for a large garden, room for additions, or privacy from neighbours.

Frequently Asked Questions

1. How does the small lot affect the home’s value or future resale?
The home’s high assessed value despite a small lot suggests the market currently prices the structure and location above land size. However, in a neighbourhood where large lots are the norm, the land component may not appreciate as quickly. Future resale will likely depend on maintaining the home’s modern standards rather than land value gains.

2. Is the home built to a similar quality as the older homes in the area?
The 2018 build means it meets modern building codes, insulation standards, and likely includes contemporary systems (efficient windows, HVAC, wiring). Older homes in Wellington Crescent often have character but may require updates to foundations, plumbing, or electrical. This property prioritizes function and energy efficiency over period details.

3. Why is the assessed value so high relative to the street average?
The assessed value reflects the size, age, and likely finishes of the home, while the street average is pulled down by many older, smaller, or less updated properties. The home is essentially new compared to its neighbours, many of which were built in the 1940s or earlier. The value premium captures that difference.

4. How does the living area compare to other recently built homes in the city?
Citywide, this home ranks in the top 13% for living area among comparable properties, with an average citywide of 1,342 sqft. At 1,915 sqft, it is well above average for a modern home in Winnipeg, though it is smaller than the average in its immediate neighbourhood (2,343 sqft) because that average includes much older, larger houses.

5. Does the home have any outdoor space that feels functional given the small lot?
With just under 3,000 square feet, the lot will accommodate a small yard, likely with limited room for lawns, gardens, or large decks. Buyers should expect a low-maintenance outdoor area, possibly suitable for a patio, small planting beds, or a fire pit, but not for extensive recreation or landscaping. The trade-off is less time spent on yard work.