Property Overview: 575 Paddington Road, Winnipeg
Key Characteristics & Buyer Profile
This 1985-built home in River Park South presents a practical and straightforward opportunity. At 980 square feet, it offers a manageable living space that is typical for its street but sits below the neighborhood and city averages, suggesting a more compact and efficient layout. Its assessed value of $386,000 is competitive, aligning closely with the Winnipeg average and representing a relative value within its own neighborhood, where average values are higher. The lot size, while around average for Paddington Road, is smaller than most in River Park South.
The appeal lies in its position as a well-priced entry point into an established neighborhood. It suits first-time buyers or downsizers seeking a lower-maintenance property without sacrificing access to community amenities. A thoughtful perspective is that its "around average" metrics on its own street indicate a home that fits comfortably within its immediate context, potentially offering more predictability and less pressure to over-improve compared to a standout property. Its recent sale history shows steady appreciation, moving from the $300k-$350k range in 2020 to $400k-$450k in 2023, reflecting solid market movement.
Frequently Asked Questions
1. Is the living area too small?
At 980 sqft, the home is smaller than the neighborhood average. This makes it efficient and easier to maintain, but buyers should ensure the layout meets their spatial needs, especially if working from home or with a growing family.
2. How does the assessed value compare to likely selling price?
The assessed value is $386k. Recent sales data shows it sold for between $400,000 and $450,000 in late 2023, indicating the market value recently exceeded its assessment. A current market evaluation is recommended.
3. What does the lot size mean for outdoor space?
The 4,181 sqft lot is smaller than many in River Park South but is actually slightly larger than the average lot on Paddington Road itself. It provides yard space but may limit extensive additions or sprawling outdoor features.
4. Is the home older or newer for the area?
Built in 1985, it is older than the neighborhood average (1990) but is newer than the average Winnipeg home. On its own street, its build year ranks in the top 15%, making it one of the newer homes in that specific section.
5. Where can I get exact historical sale prices?
The site provides sold price ranges. Due to industry rules, exact MLS sale figures are not published here. You can request the exact historical sold prices via email from the site provider for verified details.