1305 Paterson Street – Property Summary
Key Characteristics & Appeal
This is a 1964-built home with 1,186 square feet of living space on a 6,358-square-foot lot. It sits in the Windsor Park neighbourhood of Winnipeg. What stands out most is the land: citywide, it ranks in the top 25% for lot size among comparable homes, and it’s also above average within the neighbourhood. The assessed value is $388,000, which is above the neighbourhood average of $354,200 but slightly below the citywide average. Both the living area and the year built are roughly average for the street and city, though the home is one of the older houses on Paterson Street itself.
The appeal here is subtle but real. The larger lot offers outdoor space that many newer or more compact city properties lack, and the assessed value suggests solid equity relative to the immediate area. Because the home is not oversized or unusually priced, it could suit a buyer looking for a practical, unflashy entry into a stable neighbourhood—someone willing to invest in updates or maintenance on a 60-year-old structure rather than paying a premium for a move-in-ready or renovated property. First-time buyers who value yard space over finishings, or someone downsizing but wanting room for a garden, would find this worth a look. It’s not a showpiece; it’s a solid foundation.
Five Possible FAQs
1. How does this home compare to others on Paterson Street?
It’s roughly average in living area and land size, and its assessed value is slightly higher than the street median. However, it’s one of the older homes on the block—built in 1964, while most neighbours are from 1966 or later.
2. Is the lot size unusual for this area?
Yes, but not dramatically so. Within Windsor Park, the lot is above average (top 24%), and citywide it ranks in the top 25%. That’s a meaningful difference if you want more outdoor room than most similar-sized homes offer.
3. Why is the assessed value higher than the neighbourhood average but lower than the city average?
Windsor Park has generally lower assessed values than the citywide benchmark for comparable homes ($354,200 vs. $390,100). This property is above its immediate area, likely due to the larger lot, but hasn’t crossed into the higher citywide tier.
4. What should a buyer watch out for with a 1964 build?
Expected older-home considerations: potential for original mechanicals (furnace, electrical, plumbing), windows, and insulation. The age isn’t extreme for Winnipeg, but a pre-purchase inspection should focus on these systems and the foundation. The larger lot may also mean more landscaping or maintenance work.
5. Who is this property not for?
It probably won’t suit someone wanting a modern, low-maintenance home with high-end finishes, or a buyer prioritizing a very short commute to downtown over yard space. It also may not appeal to investors seeking quick appreciation, as the value growth is tied to a modest, older structure in a steady but not rapidly rising area.