Property Overview: 474 Paddington Road, Winnipeg
Section 1: Key Characteristics & Buyer Profile
This 1985-built home in River Park South presents a practical and affordable entry point into a well-established Winnipeg neighborhood. Its key characteristic is its compact size, with 866 sqft of living space, which is notably below the area average. This results in a correspondingly efficient assessed value that sits comfortably around the citywide average. The lot size is typical for its immediate street but is more modest compared to larger plots found elsewhere in the neighborhood.
The appeal lies in its value proposition and low-maintenance potential. For the price, buyers gain a foothold in a mature community, often with the benefit of an older home that has seen significant updates. It suits first-time buyers, downsizers, or investors seeking a manageable property. A thoughtful perspective is that while the home's footprint is smaller, it may represent an opportunity for efficient living without the upkeep of a larger house, potentially freeing up resources for renovations, travel, or savings. Its "around average" valuation on its own street suggests it fits the local market context well, rather than standing out as over-improved or under-improved.
Section 2: Frequently Asked Questions
1. Is the living area too small?
At 866 sqft, the home is compact. It's ideal for individuals, couples, or small families comfortable with efficient space. It's significantly smaller than the neighborhood average, so viewing the layout in person is essential to assess if it meets your needs.
2. How does the assessed value compare?
The assessed value of $376k is around the average for Winnipeg and for Paddington Road itself. However, it is below the average for the broader River Park South area, indicating you may be paying less for the location than for a larger, more typical home in the same neighborhood.
3. What does the sale history indicate?
The home sold recently in late 2024 for an estimated $400k-$450k, a noticeable increase from its 2021 sale in the $300k-$350k range. This suggests strong market appreciation in a short period.
4. Is the lot size a disadvantage?
The 4,234 sqft lot is standard for Paddington Road but smaller than many lots in River Park South. This means less yard maintenance but also less private outdoor space compared to some neighbors.
5. Where can I get exact sale prices?
The site provides estimated price ranges. Due to industry rules, exact sale figures are not displayed publicly. You can request the precise sale history via email from the site provider, who will manually look up and send the verified data.