Property Overview: 495 Paddington Road, Winnipeg
Key Characteristics & Appeal
This 980 sqft home, built in 1984 on a 4,174 sqft lot in River Park South, presents a compelling, grounded opportunity. Its primary appeal lies in its strong value positioning within its immediate locale. While the living space is modest compared to broader neighborhood and city averages, the property's assessed value of $401k ranks well above the street average, suggesting it is perceived as a premium home on Paddington Road itself. This indicates a well-maintained or updated property that stands out among its closest peers.
The home would suit practical, value-conscious buyers—perhaps first-time homeowners, downsizers, or investors—who prioritize a solid investment in a stable area over maximum square footage. It offers the advantage of being newer than most Winnipeg homes and sits on a lot that is typical for its specific street. The recent sale within the $400k-$450k range confirms strong market interest. A thoughtful perspective here is that a smaller, efficiently designed home on a desirable street can often offer better livability and lower upkeep costs than a larger, more average property elsewhere, making it a smart choice for those seeking simplicity and financial prudence.
Frequently Asked Questions
1. Is the living area too small?
While below the neighborhood average, the living area is closer to the average for Paddington Road itself. It represents a more efficient, manageable footprint with potentially lower utility and maintenance costs.
2. Why is the assessed value higher than the street average?
A higher assessment often reflects factors like recent updates, superior condition, or favorable lot attributes compared to immediate neighbors. It suggests the property is considered one of the better-maintained homes on the block.
3. What does the recent sale price tell us?
The home sold between $400k-$450k in July 2024. This placed it in the top 5% of sale prices for Paddington Road, confirming its strong market value and desirability relative to its direct surroundings.
4. How does the lot size impact the property?
The lot is near the street average but smaller than many in River Park South. This typically means less yard maintenance, which can be an advantage for some, but may limit expansion possibilities.
5. Where can I get the exact sale price and history?
Due to industry regulations, exact MLS records are not published here. You can request the full transaction history and precise sold price by emailing the site directly for a manual lookup.