Property Overview & Key Characteristics
This 870 sqft bungalow at 135 Aldgate Road in River Park South is a home defined by its practical efficiency and value positioning within its market. Built in 1986, it sits on a standard lot of approximately 4,526 sqft. The key data reveals a property that is notably smaller and has a lower assessed value ($375k) than most direct neighbors, yet it holds a more average standing when viewed across the entire city of Winnipeg.
Its primary appeal lies in affordability and entry-point access to a well-established neighborhood. For the price, a buyer gains a foothold in River Park South—a mature area with larger, often newer homes—without the typical price tag. This creates an opportunity for first-time homeowners, downsizers, or investors seeking a lower-cost property with renovation potential. The home’s older vintage, compared to others on the street, suggests it may be one of the original builds in the area, offering a classic layout and possibly a well-settled streetscape. A thoughtful perspective is that its below-average metrics on its own street could translate to a lower property tax burden relative to immediate neighbors, while still providing the neighborhood amenities and location benefits.
Frequently Asked Questions
1. Is this a good value for the area?
The assessed value is below the street and neighborhood averages, suggesting a lower entry price for River Park South. Whether it's a "good value" depends on the home's condition and modernization needs, but it positions as a more affordable option in this locale.
2. How does the smaller living area impact livability?
At 870 sqft, the home is significantly cozier than the area average. It would suit individuals, couples, or small families comfortable with efficient living spaces, and may have limited room for extensive home-office setups or guest accommodations.
3. What can the 2020 sale price tell us?
The property sold for an estimated $250k-$300k in mid-2020. This historical price, significantly lower than the current assessed value, highlights the market appreciation over the last five years and provides context for the seller's potential equity.
4. How does the year built affect maintenance?
Built in 1986, the home is approaching 40 years old. Buyers should budget for potential updates or replacements of age-related components, such as the roof, windows, and major mechanical systems, which may be nearing the end of their service life.
5. Are the property taxes likely to be lower?
Potentially, yes. Since property taxes are based on assessed value, this home's assessment is below the local averages, which could result in a comparatively lower tax bill than newer or larger homes on the same street.