Property Overview: 483 Paddington Road, Winnipeg
Section 1: Key Characteristics & Appeal
This 980 sqft bungalow, built in 1984, presents a practical and affordable entry point into Winnipeg’s established River Park South neighborhood. Its key appeal lies in its relative value and stability. With an assessed value of $343k, it sits comfortably around the average for its street and the wider city, yet is notably below the neighborhood average, suggesting a potentially more accessible price point within this area.
The home suits first-time buyers, downsizers, or investors seeking a manageable property with lower ongoing tax obligations relative to larger homes in the area. Its smaller living area and lot size (4,174 sqft) translate to less maintenance, which is a distinct advantage for those seeking simplicity. A thoughtful perspective is that while the home ranks below neighborhood averages for size, it ranks above average for its year built both on its street and city-wide, indicating a potentially newer or better-maintained structure compared to many Winnipeg homes. This positions it as a modern, low-maintenance option within its market segment.
Section 2: Frequently Asked Questions
1. Is this home a good value compared to others in River Park South?
Based on assessed values, this home ranks in the top 91% for being less expensive than neighborhood averages, meaning it offers a lower entry cost into the area while still providing similar access to amenities and community.
2. How does the smaller living area impact daily life and resale?
The 980 sqft layout is efficient and cost-effective to heat and maintain. It appeals to a specific market seeking simplicity. While smaller than the neighborhood average, it is close to the average for Paddington Road itself, suggesting it fits the character of the immediate street.
3. What does the sold price history indicate?
The home sold between $300k-$350k in May 2021. This range was above the median for the city and area at that time, indicating strong past buyer interest. For current value, a professional assessment against today’s market conditions is essential.
4. The lot is smaller than many in Winnipeg. Is that a drawback?
The lot is near the average size for Paddington Road. A smaller lot means less yard work and lower exterior maintenance costs, which can be a significant benefit for many buyers.
5. How can I verify the exact historical sold prices?
The provided sold price is an estimated range from public data. For fully verified and exact transaction figures, you must request a manual lookup from the site via email, as MLS data is not displayed here due to industry regulations.