Property Overview: 48 Paddington Road, River Park South, Winnipeg
Section 1: Key Characteristics & Appeal
This 880 sqft bungalow, built in 1983, presents a practical and affordable entry point into Winnipeg’s established River Park South neighborhood. Its primary appeal lies in value and lot size. While the living area is notably compact compared to local averages, the property sits on a 4,599 sqft lot that is larger than most on Paddington Road, offering valuable outdoor space and potential. The assessed value of $322k is comfortably below both neighborhood and city averages for comparable homes, suggesting a relatively lower property tax burden and an accessible price point.
This home would best suit first-time buyers, downsizers, or investors seeking a manageable footprint without sacrificing yard space. Its value proposition is clear: you are trading interior square footage for land and location within a mature community. A thoughtful perspective is that a smaller, well-maintained home on a good lot can be more financially sustainable in the long run, with lower utility and maintenance costs. It’s a property for those who prioritize practicality, outdoor potential, and community over sheer interior size.
Section 2: Frequently Asked Questions
1. Is the living area too small?
At 880 sqft, the home is significantly smaller than the neighborhood average. It requires efficient use of space and would feel cramped for a large family, but it is manageable for individuals, couples, or small families.
2. How does the assessed value affect property taxes?
With an assessed value below area averages, the municipal property tax calculation should start from a lower base than many nearby homes, potentially resulting in lower annual taxes.
3. What does the lot size offer?
The 4,599 sqft lot is a standout feature for the street, providing more private outdoor space than neighbors. This allows room for gardening, play, storage, or future additions like a shed or deck.
4. What is known about past sale prices?
Records indicate a sale between $200k-$250k in September 2019. For verified, exact historical sale figures, you must request a manual lookup from the site via email, as they do not publish MLS data.
5. How does this home compare to others on the street?
It has a newer build year and a larger lot than the street average, but a smaller living area. Its assessed value is very close to the street’s average, positioning it as a typical value for Paddington Road but with a unique balance of features.