Property Overview: 119 Paddington Road, River Park South, Winnipeg
Key Characteristics & Buyer Appeal
This 880 sqft bungalow, built in 1978, presents a clear value proposition in Winnipeg's River Park South neighborhood. Its primary characteristic is its affordability, with an assessed value of $287k, which sits significantly below area averages. This positions the home as one of the most accessible entry points into this established community. The lot size is typical for the street but smaller than newer neighborhood subdivisions, offering manageable outdoor maintenance.
The appeal lies in its potential as a starter home or a strategic investment. For buyers, it offers a lower financial barrier to entry while still providing the stability of a mature neighborhood. A thoughtful perspective is that its below-average metrics in size and value for the area might indicate an opportunity for value-adding improvements, where even moderate updates could yield strong proportional returns. This property would best suit first-time buyers prioritizing location within a specific budget, practical downsizers looking to minimize upkeep, or investors seeking a rental property with a relatively low entry cost in a stable family-oriented area.
Frequently Asked Questions
1. Why is the assessed value so much lower than the neighborhood average?
The assessed value reflects factors like the home's smaller size (880 sqft vs. a neighborhood average of ~1,410 sqft) and its 1978 build date, which is older than many area homes. This combination results in a valuation that is comparatively low for River Park South.
2. How accurate are the sold price ranges shown?
The sold price ranges are based on publicly available data, not the MLS. For fully verified, exact historical sale figures, you must request a manual lookup via email, as detailed on the site.
3. Is the smaller living area a major concern?
It depends on your needs. The home ranks below average in size for the street, area, and city. It is well-suited for individuals, couples, or small families who prioritize efficient living space and affordability over square footage.
4. What does the "Top %" ranking mean for year built?
A ranking in the "Top 74%" for year built on its street means the home is newer than 74% of comparable homes on Paddington Road. While older than the neighborhood average, it is actually around the average age for the city of Winnipeg as a whole.
5. Are the nearby comparison homes similar?
The listed nearby properties provide context. For example, 199 Paddington Road is a direct comparison (same year, same size, similar value), while others on the same street are larger, newer, and have higher assessments, illustrating the value spectrum on the block.