Property Overview
This home at 434 Paddington Road in Winnipeg's River Park South neighborhood presents a specific value proposition. Built in 1979, it's a 1,216 sqft property on a 2,498 sqft lot that sold in the $300k-$350k range in August 2024. Its profile is defined by a notable contrast: its living space is competitive for its immediate street, while its assessed value and lot size are significantly below area averages.
Key Characteristics & Appeal
The primary appeal of this property lies in its affordability within a well-established neighborhood. With an assessed value consistently below averages for the street, neighborhood, and city, it represents a lower entry point into River Park South. The living area is above average for Paddington Road itself, suggesting the home makes efficient use of its space relative to nearby houses.
It would suit practical, value-conscious buyers—perhaps first-time homeowners or investors—who prioritize location and fundamentals over lot size or modern build dates. A less obvious perspective is that a smaller, more manageable lot can mean lower maintenance costs and time commitment, which can be a hidden benefit for busy households. The data suggests you are paying primarily for the interior space and location here, not for land.
Frequently Asked Questions
1. Why is the assessed value so much lower than the neighborhood average?
The assessed value of $291k is well below the River Park South average of $447k. This is likely due to a combination of the home's older build date (1979, compared to a 1990 neighborhood average), its smaller lot size, and potentially its specific condition or features at the time of assessment.
2. Is the living space adequate for a family?
At 1,216 sqft, the living area is above the average for its own street and near the citywide average. It is, however, below the neighborhood average of 1,410 sqft. It would likely suit a small family or those comfortable with a more compact layout compared to many larger, newer homes in the area.
3. What are the implications of the smaller lot size?
The lot of 2,498 sqft is substantially smaller than typical lots in River Park South. This means less outdoor space for gardening, play, or expansion. However, it also translates to less yard work and lower potential property tax assessments related to land value.
4. How reliable is the sold price data shown?
The sold price range of CA$300k–350k is based on publicly available internet data, not the MLS. The site advises that for fully verified, exact transaction figures, you must request a manual lookup via email.
5. How does this home compare to others on the same street?
On Paddington Road, this home has more living area than average but sits on a much smaller lot and has a lower assessed value. This indicates it may offer better interior space for the price compared to street neighbors, but with less outdoor property.