Property Summary: 448 Paddington Road, River Park South, Winnipeg
Key Characteristics & Appeal
This 1,216 sqft bungalow, built in 1981, presents a practical opportunity in Winnipeg's River Park South neighborhood. Its core appeal lies in its value proposition. With a current assessed value significantly below averages for its street, neighborhood, and the city, it stands out as a more affordable entry point into a stable area. The living space is competitive for the immediate street and aligns with typical city-wide sizes, suggesting a functionally sized home.
The property is best suited for first-time buyers, value-focused investors, or downsizers seeking a lower-cost foothold in a community without sacrificing interior space. A key, less obvious consideration is the lot size. At 2,497 sqft, it is notably smaller than most in the area. This translates to lower maintenance, which is a benefit for those seeking simplicity, but offers limited potential for expansions or extensive landscaping. The home’s recent sale history indicates it has been a relatively affordable option for years, appealing to those prioritizing financial accessibility over premium lot size or newer construction.
Frequently Asked Questions
1. Is this a good value compared to nearby homes?
Yes, based on assessed value. This home is ranked well below average for its neighborhood and street, meaning its official valuation is lower than most comparable properties around it, which can indicate a competitive price point.
2. What are the trade-offs for the lower assessed value?
The primary trade-off is land size. The lot is considerably smaller than typical for River Park South. While this means less yard upkeep, it also limits outdoor privacy and expansion potential. The home is also slightly older than the neighborhood average.
3. How does the actual living space feel?
At 1,216 sqft, the living area is above average for Paddington Road itself and near the city-wide average for homes. You are likely getting a reasonably sized interior relative to the market, even on a compact lot.
4. What can recent sale prices tell me?
The home sold in late 2023 within the $250k-$300k range, a price that was in the top 75% most affordable on its street at that time. This reinforces its history as a value-oriented property.
5. How can I verify the exact past sale prices?
The site does not display exact MLS sold figures due to industry rules. You can request the exact sale history via email from the provider for a manually verified record.