Property Overview: 587 Paddington Road, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 587 Paddington Road in River Park South is a practical and competitively positioned property. Built in 1985, it is newer than many Winnipeg homes, offering modern construction basics without the premium of a brand-new build. With 980 sqft of living space, it is a manageable size, sitting comfortably among its immediate neighbors on Paddington Road but below the larger averages for the wider neighborhood and city. This points to a home suited for efficient living rather than expansive space.

Its primary appeal lies in its value proposition and stability within its immediate surroundings. The assessed value of $363k is almost exactly the street average, indicating it is priced in line with its direct peers. For the neighborhood, this value is notably below the area average, which could represent an entry point into River Park South. The lot size, while smaller than many in Winnipeg, is actually slightly larger than the street average, providing adequate outdoor space.

This property would best suit first-time homebuyers, downsizers, or pragmatic investors seeking a lower-maintenance home in an established area. It’s for someone who prioritizes being in a specific neighborhood over having a large house, and who sees the value in a home that requires no major updates to its core structure. A thoughtful perspective is that this home represents the "typical" house on its street—neither the largest nor the smallest, neither the newest nor the oldest. This can be an advantage, offering predictability and reducing the risk of being over-improved or under-improved relative to the immediate market.

Section 2: Frequently Asked Questions

1. How does the living area compare to nearby homes?
At 980 sqft, the living area is very close to the average for Paddington Road itself (~1,128 sqft). However, it is below the broader neighborhood and city averages, making it a more compact option within River Park South.

2. Is the assessed value a good indicator of the listing or sale price?
The assessed value of $363k is a municipal valuation for tax purposes. It aligns closely with the average for this street, suggesting it is fairly valued in its micro-market. Market conditions, property condition, and interior updates will ultimately determine the sale price.

3. What does the year built (1985) tell us about the home?
Built in 1985, this home is newer than the Winnipeg city average. It likely incorporates building standards and materials from the 1980s, which may mean fewer concerns about very aged major systems compared to much older homes, but potential for updates consistent with that era.

4. How does the lot size impact the property?
The lot of 4,181 sqft is slightly larger than the average lot on Paddington Road. While it is smaller than many lots in Winnipeg overall, it provides a decent yard for the area and may mean less exterior maintenance than a larger parcel.

5. Where can I find verified past sale prices for this home?
The site indicates a past sale between $250k-$300k in June 2016. For fully verified and exact transaction history, you must request a manual lookup via email, as this data is not sourced from the MLS system.