1163 Paterson Street – Property Summary

Key Characteristics & Buyer Profile

This 1977-built home in Windsor Park offers 1,176 square feet of living space on a 5,202-square-foot lot. Its standout feature is the year built: it’s the newest house on Paterson Street (ranked #1 out of 13), and sits in the top 2% of the neighbourhood for newer construction. In an area where the average home was built in 1961, this represents a genuine rarity. The living area is slightly below the citywide average but above the neighbourhood norm, while the assessed value of $357,000 lands near the middle of the pack across all three comparisons—street, neighbourhood, and city.

The appeal here is less about square footage or lot size (both are below average for the street) and more about getting a newer shell in an established, older neighbourhood. For buyers who want modern construction without leaving a mature area with larger lots and established trees, this property bridges that gap. It’s not a fixer-upper’s dream, but it’s also not a teardown. The land is smaller than neighbours’, which may mean less maintenance but also less room for expansion.

This property would suit buyers who prioritize a newer build over land size—empty nesters downsizing from a larger lot, first-time buyers who want something move-in ready without a major renovation timeline, or anyone who values being in a top-tier neighbourhood for construction recency. It’s less suited for those seeking a big yard, a renovation project, or maximum square footage for the price.

Five Frequently Asked Questions

1. How does the smaller lot size affect the property’s value or usability?
The lot is noticeably smaller than others on Paterson Street (ranked last out of 13). That could mean lower yard maintenance and potentially lower property tax relative to larger lots in the area. However, it also limits future additions, garages, or landscaping possibilities. For resale, some buyers may see it as a perk, others as a limitation—it’s a trade-off, not a dealbreaker.

2. Why is the assessed value only “around average” when the house is much newer?
Assessed value considers more than age—it factors in living area, land size, location, and condition. While this home is newer than its peers, its smaller lot and slightly below-average square footage offset that advantage. The neighbourhood average assessed value is $354,200, so this home’s $357,000 is essentially at par, meaning you’re paying for the newer construction without a premium for land.

3. Is Windsor Park generally a good area for resale value?
Windsor Park is an established, mid-range Winnipeg neighbourhood with a mix of older bungalows and newer infills. Being in the top 21% for newer homes locally suggests this property could hold value better than aging stock, but the smaller lot may limit appreciation compared to full-size lot homes. It’s a stable area, not a hot market—steady rather than speculative.

4. How does the living area compare to typical starter homes in Winnipeg?
At 1,176 square feet, this is slightly below the citywide average of 1,342 square feet for comparable homes, but above the neighbourhood average of 1,091. It’s a comfortable size for a couple or small family, but not spacious for larger households. Compared to many older Winnipeg homes with similar footprints, the newer build may offer better layout efficiency and insulation.

5. What are the most common issues with 1977-built homes in this region?
Homes from the late 70s in Manitoba often have original windows that may need replacement, older electrical panels (60-100 amp service), and potential asbestos in some insulation or flooring materials. The fact that this home is newer than most on the street doesn’t guarantee modern upgrades—buyers should still verify the condition of the roof, HVAC, and foundation. A home inspection is strongly recommended.