Property Overview: 217 Paddington Road, Winnipeg
Key Characteristics & Buyer Profile
This 880 sqft bungalow, built in 1978, presents a practical entry point into Winnipeg’s River Park South neighborhood. Its primary appeal lies in its relative affordability within a well-established area, as evidenced by its assessed value of approximately $300k, which sits below local averages. The home’s compact size and smaller lot (2,598 sqft) translate to lower maintenance demands and utility costs, a significant consideration for budget-conscious buyers.
The property is best suited for first-time homebuyers, downsizers, or investors seeking a manageable footprint. Its value proposition is clear: you are purchasing location and community over square footage. A thoughtful perspective is that this home ranks more favorably city-wide for its year built than within its immediate area, suggesting it may have a solid foundational structure compared to many Winnipeg homes. While it doesn’t offer expansive space, its below-average costs for the neighborhood could free up capital for renovations or personalization, allowing a buyer to incrementally add value.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No, the assessed value (approx. $300k) is used for calculating property taxes and may differ from the current market value, which is determined by recent sales, condition, and buyer demand.
2. How does the smaller living area impact daily life?
The 880 sqft layout requires efficient use of space and may not suit those needing multiple dedicated rooms or extensive storage. However, it promotes a simpler, low-maintenance lifestyle.
3. What are the implications of the smaller lot size?
The 2,598 sqft lot means less outdoor maintenance and lower landscaping costs. It may limit potential for large additions, decks, or gardens but is sufficient for a patio or small recreational space.
4. The home is older than many in River Park South. Should I be concerned?
Built in 1978, it is older than the neighborhood average. A thorough inspection is crucial to assess the condition of major systems (roof, plumbing, electrical) which may be due for updates or replacement.
5. Where can I find verified past sale prices for this property?
The site provides estimated sold price ranges. For fully verified transaction history and exact figures, you must request a manual lookup via email, as this data is not sourced from the MLS.