Property Overview: 478 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 River Park South neighborhood. Its core appeal lies in offering solid value within a stable, established area. The home sits on a slightly larger-than-average lot for its street (4,234 sqft), providing good outdoor space relative to nearby houses.

The property is squarely positioned as an average performer on its own street in terms of size, value, and lot, but falls below the broader neighborhood averages for living space and lot size. This creates a clear value proposition: you are purchasing a home that is typical and competitively priced for Paddington Road itself, but at a assessed value notably below the River Park South area average. It recently sold within the CA$350k–400k range, aligning with its street-level valuation.

This home would best suit first-time buyers, downsizers, or value-focused investors seeking a manageable property without a premium price tag. Its appeal is pragmatic—offering the benefits of the neighborhood (like mature landscaping and community amenities) without paying for extra square footage that may not be needed. A thoughtful perspective is that a home which is "average for the street but below neighborhood average" can represent a smart compromise, providing location stability while leaving room in the budget for updates or personalization.

Section 2: Frequently Asked Questions

1. How does this home’s size compare to others nearby?
At 980 sqft, the living area is slightly below the average for Paddington Road (1,128 sqft) and more noticeably below the overall River Park South average (1,410 sqft). It’s a compact bungalow, which may appeal to those seeking efficient, low-maintenance living.

2. Is the assessed value in line with the sale price?
The assessed value is $353k. The home sold for between $350k and $400k in July 2024, indicating the sale price was very close to or slightly above its official assessment, which is typical for a fair market transaction.

3. What does the lot size mean for potential upgrades or additions?
The lot is 4,234 sqft, which is larger than the street average. This could provide more flexibility for gardening, outdoor living, or future expansions like a shed or deck, compared to immediate neighbors, though local zoning bylaws would apply.

4. How old is this home relative to others in Winnipeg?
Built in 1984, it is newer than the Winnipeg city-wide average (1966) and typical for its street. This suggests major components like the roof, windows, and mechanical systems are likely from a modern era but may be due for replacement or updates based on their specific condition and maintenance history.

5. Where can I get verified sale price data for this property?
The site provides sold price ranges based on public data. For the exact sale price and full transaction history, you must request a manual lookup via email, as this information is not sourced from the MLS and is provided directly by the site’s team.