Property Overview: 205 Paddington Road, Winnipeg
Key Characteristics & Appeal
This 880 sqft bungalow, built in 1978, presents a practical entry point into Winnipeg’s established River Park South neighborhood. Its core appeal lies in its relative affordability, with an assessed value significantly below area averages, offering a lower financial barrier in a typically higher-priced community. The home suits first-time buyers, downsizers, or investors seeking a manageable footprint with renovation potential. While its living space and lot size are compact compared to most neighbors, this translates to less maintenance and lower utility costs—a thoughtful trade-off for those prioritizing simplicity and budget. The property’s age places it among the older homes on its street, suggesting a well-established streetscape, but buyers should be prepared for updates. It’s a straightforward property that appeals to value-conscious individuals who see potential in a foundational home rather than a turn-key showcase.
Frequently Asked Questions
1. Why is the assessed value notably lower than the neighborhood average?
The assessed value reflects the home’s smaller size (both living area and lot) and its older vintage compared to the broader neighborhood, which consists of many larger, newer homes. This discrepancy is what creates its accessible price point.
2. What does the sold price data indicate?
The home sold between $300k-$350k in early 2023, placing it in the lower half of sold prices for the street and city-wide. This recent sale supports the trend of it being a more affordable option within its market.
3. Is the small lot size a major drawback?
It depends on your lifestyle. The lot is smaller than most in Winnipeg, limiting extensive landscaping or expansion potential. However, it means minimal yard work and lower exterior maintenance costs, which can be a benefit for those seeking a low-maintenance property.
4. How does this home compare to others on Paddington Road?
It ranks below the street average in size, value, and year built. Essentially, it’s one of the more modest and older properties on a street that includes larger, slightly newer homes. This offers a chance to live on a desirable street at a lower cost.
5. Where can I get verified historical sale data for this property?
The site notes that exact sold prices are not displayed publicly due to industry rules. You can request the full transaction history and exact figures directly from the website via email, which they will provide manually.