Property Overview: 193 Paddington Road, River Park South, Winnipeg
Key Characteristics & Buyer Profile
This 880 sqft bungalow, built in 1978, presents a practical and affordable entry point into Winnipeg’s River Park South neighborhood. Its key appeal lies in its value proposition: with an assessed value of $309,000, it sits notably below the neighborhood average ($447,200) and offers a lower financial barrier to entry. The home’s smaller footprint and compact lot (2,499 sqft) translate to lower maintenance and utility costs, a significant consideration for budget-conscious buyers.
The property would suit first-time homebuyers, downsizers, or investors seeking a manageable, income-producing asset. Its value is more positional than physical—you’re buying into a stable, established area without paying a premium for size. A thoughtful perspective is that this home represents an opportunity to gain equity in a desirable neighborhood where most homes are larger and more expensive, allowing for potential value growth through strategic updates over time.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
The assessed value ($309k) is for municipal tax purposes and is a starting point. Given it’s below area averages and recent nearby sales, it suggests a competitive listing price, but the final sale price will be determined by current market conditions.
2. How does the smaller living area and lot size compare practically?
At 880 sqft, the home is cozier than most on the street and in the area. The lot is also significantly smaller than area norms, meaning less outdoor maintenance but also limited space for expansions, large gardens, or privacy.
3. What does the sale history from 2016 tell us?
The home sold for an estimated $200k-$250k in mid-2016. The increase to the current assessed value reflects broader market appreciation over nearly a decade, indicating the property has kept pace with general value trends.
4. Are there any obvious concerns from the data provided?
The home is older than most in River Park South (1978 vs. 1990 average). Prospective buyers should prioritize a thorough inspection to understand the condition of major aging components like the roof, windows, and mechanical systems.
5. How can I get the exact historical sale prices?
The site does not display MLS sold data. You must request exact figures via email from the provider, who will manually look them up and send them to you, typically by the end of the same business day.