Property Overview
This well-situated 1978 bungalow at 199 Paddington Road in River Park South offers a practical, low-maintenance living option. Its primary appeal lies in its generous 2,499 sqft lot, which ranks in the top 5% on its street and the top 1% within the entire neighbourhood, providing significant outdoor space relative to many nearby homes. The living area is a compact 880 sqft, and the home features a renovated basement, adding functional space. With no garage or pool, it presents a straightforward property.
The home would suit first-time buyers or downsizers looking for a manageable footprint without sacrificing yard size in a mature, established neighbourhood. Its strong lot size ranking suggests potential for future expansion or gardening, appealing to those who value outdoor privacy and space more than a large interior. The recent basement renovation adds immediate move-in appeal for buyers seeking modernized basics without a full-scale project.
Key Details & Questions
What are the key features of this home?
This is a one-storey bungalow built in 1978, situated on a large 2,499 sqft lot. It features 880 sqft of living space and includes a renovated basement. There is no garage or swimming pool.
How does this property compare to others in the area?
The lot size is a standout feature, larger than 95% of lots on its street and 99% of lots in the River Park South neighbourhood. The home itself is moderately sized for the area, with a living area larger than about 79% of homes on the street. Its assessed value of $29,200 is fairly typical for the wider Winnipeg area.
Is the neighbourhood desirable?
River Park South is a mature, established neighbourhood. The provided comparable listings suggest it's an active area with homes from the same era, indicating stability and consistent demand.
What is the home’s value history?
The home last sold in August 2020 for $26,700. Its current assessed value is $29,200, which is a common benchmark for municipal taxation, not necessarily market price.
Are there any obvious considerations?
The lack of a garage and the home's age (48 years) mean buyers should budget for potential maintenance or consider the cost of adding parking/ storage. The large lot is a major asset, but the smaller living footprint requires efficient use of space, making the renovated basement particularly valuable for added functionality.