Property Overview: 345 Paddington Road, River Park South, Winnipeg
Section 1: Key Characteristics & Appeal
This 1,040 sqft bungalow, built in 1981 on a 3,498 sqft lot, presents a straightforward opportunity in Winnipeg's River Park South neighborhood. Its primary appeal lies in its position as a statistically average home within its immediate context, offering a stable entry point into a desirable area. The assessed value of $356k is notably below the neighborhood average, suggesting a potentially more affordable pathway into River Park South compared to many of its peers.
The home would suit first-time buyers or practical downsizers seeking a manageable property without the premium often attached to larger, newer homes in the area. Its "around average" metrics on its own street indicate it fits comfortably within the local streetscape, avoiding the risks or premiums associated with being an outlier. A thoughtful perspective is that this property represents the typical experience of homeownership on Paddington Road—offering the neighborhood's amenities and stability without the burden of top-tier property taxes that come with a higher assessment.
Section 2: Frequently Asked Questions
1. How does this home's value compare to others in River Park South?
The home's assessed value ($356k) is significantly below the neighborhood average for comparable homes ($447.2k), ranking in the top 87% (meaning it's less expensive than 87% of similar properties in the area). This indicates it's a more affordable option within the community.
2. Is the living space smaller than most homes nearby?
Yes, at 1,040 sqft, it is below the River Park South average (1,410 sqft). However, it is very close to the average for homes on its own street (1,128 sqft), meaning it is typical for Paddington Road.
3. What is the recent sales history for this property?
Records indicate it sold between $300,000 and $350,000 in December 2022. For fully verified, exact sale figures, you can request a manual lookup via email from the site.
4. How does the lot size impact this property?
The lot is 3,498 sqft, which is below average for both the neighborhood and the city. This means lower maintenance but also less private outdoor space compared to many Winnipeg homes. On Paddington Road itself, it is closer to the average.
5. Are homes from 1981 likely to need major updates?
A home from 1981 is newer than the Winnipeg city average. While systems like the roof, windows, or furnace may be due for inspection or replacement based on their specific age and maintenance history, the structure itself is from a modern building era. It's wise to budget for updates that align with a 40+ year-old home.