Property Overview
This 870 sqft bungalow at 18 Aldgate Road in Winnipeg's River Park South neighborhood presents a specific, value-oriented opportunity. Built in 1987, it sits on a 4,101 sqft lot and has an assessed value of $384k. The home last sold between $350k-$400k in late 2021. Its key appeal lies in its position as a more affordable entry point into a stable neighborhood, particularly for those prioritizing lot ownership over square footage. Compared to nearby homes, it has a smaller footprint and lot size, which is reflected in its below-average rankings for living and land area on its street and in the area. However, its citywide assessed value is around the average benchmark, suggesting its price aligns with broader Winnipeg norms.
This property would suit first-time buyers, downsizers, or investors seeking a lower-cost holding in a well-established community. Its compact size means lower utility and maintenance costs, appealing to those seeking efficiency. A thoughtful perspective is that a smaller home on a decent lot offers clearer potential for future expansion or landscaping projects than a larger home on a maxed-out lot. It’s a practical choice for someone comfortable with a cozy layout who values the long-term asset of land in a mature area over immediate space.
Frequently Asked Questions
1. Is this a good value for the neighborhood?
The data suggests it's priced below the local averages for both River Park South and Aldgate Road specifically, making it a more affordable option in the area. You are effectively trading square footage and lot size for location and a lower price point.
2. What does the living area ranking mean?
With a living area ranked in the top 86% on its street, it means only 14% of comparable homes on Aldgate Road are smaller. It's a compact home relative to its immediate neighbors, which typically have around 1,405 sqft.
3. How does the assessed value compare city-wide?
City-wide, its $384k assessment is ranked almost exactly at the median (Top 43%), meaning it's very typical for a Winnipeg home of its type. This indicates the assessment is in line with the general market, not an outlier.
4. What can the 2021 sale price tell me?
The home sold for between $350k and $400k in October 2021. This provides a recent market benchmark. To understand current value, you would need to compare this to recent sales of similar homes and consider market changes since that time.
5. How can I get the exact historical sale prices?
The site notes that exact sale figures are not displayed publicly due to industry rules. You can request them via email from the provider, who will manually look up the verified transaction history and send it to you.