Property Overview: 479 Paddington Road, River Park South, Winnipeg
This home presents a solid, middle-ground option in Winnipeg's River Park South neighborhood. Built in 1984, it offers 1,264 sqft of living space on a 4,174 sqft lot, with a current assessed value of $373,000. The data suggests it's a property defined more by its practical positioning than by standout extremes, offering value through balance and established community context.
Key Characteristics & Appeal
The primary appeal of this home lies in its relative strength within its immediate micro-market—Paddington Road itself. While its size and value are around the Winnipeg average, it ranks notably higher among its direct neighbors on the same street. Its living area is in the top 23% for the street, and it's slightly newer than the street average. This indicates it may offer better value or more space than many houses right around it, a key detail for everyday livability.
Its assessed value sits below the broader River Park South neighborhood average ($447.2k), which could signal an entry point into the area. The lot size is smaller than both neighborhood and city averages, suggesting a lower-maintenance yard, which can be a perk for some buyers.
This property would suit first-time buyers or downsizers looking for a manageable, established home in a stable area without a premium price tag. It’s for the buyer who prioritizes a sensible, move-in-ready footprint over expansive square footage or a large lot. A thoughtful perspective is that its "above average" standing on its own street might contribute to better long-term stability and neighbor satisfaction compared to a similar house on a more inconsistent block.
Frequently Asked Questions
1. How does this home’s value compare to recent sales on the street?
The home last sold between $300k-$350k in 2016. Current assessed value ($373k) is slightly above the street's average assessed value ($364.8k), placing it in the top 42% on Paddington Road. For exact historical sale prices, a manual lookup can be requested.
2. Is the living space adequate for a growing family?
At 1,264 sqft, it is above the average size for homes on Paddington Road. It provides a practical amount of space, likely suitable for a small to medium-sized family, but may feel compact for those needing multiple large bedrooms or dedicated recreational areas.
3. What are the implications of the smaller lot size?
The lot (4,174 sqft) is below the neighborhood average. This means less yard maintenance, which is a benefit for those seeking simplicity. However, it also offers less private outdoor space and potential for expansion compared to other lots in River Park South.
4. How does the year built (1984) affect the property?
Built in 1984, the home is newer than the Winnipeg average. This often means modern construction standards, but buyers should still budget for updates common to homes of this era, such as windows, roofing, or interior finishes nearing the end of their lifespan.
5. Why is the assessed value below the neighborhood average?
The assessed value ($373k) is below the River Park South average ($447.2k) primarily due to the home’s smaller lot size and potentially more modest living area compared to larger homes in the wider neighborhood. It reflects a different segment of the market within the same area.