Property Overview: 514 Paddington Road, Winnipeg
Key Characteristics & Buyer Appeal
This 1985-built home in River Park South presents a practical, entry-level opportunity in a well-established Winnipeg neighborhood. Its key characteristic is its modest 867 sqft living area, which is notably smaller than both neighborhood and city averages. This positions the home as one of the more compact and potentially affordable options on Paddington Road, where its assessed value of $349K is close to the street's average.
The appeal lies in its efficiency and relative value. While the lot size is slightly above average for the street, it is more manageable than larger plots common in the wider area, requiring less maintenance. The home's age is a positive, ranking as newer than most in Winnipeg. It would suit first-time buyers or downsizers seeking a lower-maintenance property without leaving a mature neighborhood, or investors looking for a reasonably priced rental in a stable area. A thoughtful perspective is that its smaller size and "around average" value for the street suggest it's a neutral player in its immediate context—not over-improved nor a outlier, which can mean fewer surprises and a straightforward ownership experience.
Frequently Asked Questions
1. Is this home significantly smaller than others in the area?
Yes. At 867 sqft, the living area is below the averages for River Park South (1,410 sqft) and Winnipeg overall (1,342 sqft). It is among the more compact homes on its own street.
2. How does its value compare to nearby properties?
Its $349K assessed value is very close to the average for Paddington Road (~$364.8K) and slightly below the Winnipeg average. In the broader River Park South neighborhood, this value is considered below average, where homes are often assessed higher.
3. What is the lot size, and is it typical?
The lot is 4,073 sqft. This is slightly larger than the average lot on Paddington Road but smaller than the typical lot in both River Park South and Winnipeg overall, offering a balance of outdoor space without excessive upkeep.
4. When was it last sold, and for how much?
Records indicate a sale between October 2021, with a price in the range of $300,000 to $350,000. Exact sale figures require a manual lookup from the provider.
5. Is the 1985 build date a concern?
The build date is not a standout concern. In fact, it ranks as newer than most homes in Winnipeg and is typical for its street. This suggests major community infrastructure was established by then, and the home is past its initial "shrink-settle" phase.