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132 3 Avenue NE
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Beds
4
Baths
1
Sqft
961
Year
1919
Type
Single Family
On market
34d
Welcome to small-town living in the friendly community of Milk River, Alberta! This charming bungalow is full of character, warmth, and potential — perfect for a first-time home buyer, or investment opportunity. Situated on a mature corner lot, this home offers a fully fenced yard, large backyard deck, single detached garage, and beautiful mature trees that create a private and inviting outdoor space.Inside, you’ll appreciate the timeless charm with traditional wood built-ins, stunning stained-glass windows, hardwood floors, and a beautiful wood front door featuring stained glass detail that adds to the home’s unique personality. The home offers a cozy layout with plenty of opportunity to personalize and make it your own.Additional updates include a newer roof completed in 2017.Enjoy the benefits of affordable small-town living while still having convenient amenities nearby. Milk River offers schools from Kindergarten through Grade 12, restaurants, gas stations, a local hospital, and easy access to Highway 4. Located just minutes from the Coutts U.S. border crossing and approximately one hour south of Lethbridge, this location is ideal for commuters, travelers, or anyone looking for peaceful living with excellent highway access.The community also offers fantastic recreational amenities including a 9-hole riverside golf course, outdoor swimming pool, 3-sheet curling rink, bowling alley, several parks, campgrounds, and essential services. Nature lovers will also appreciate the easy access to the stunning Writing-on-Stone Provincial Park nearby.Whether you’re looking for your first home, an investment property, or a peaceful place to call home, this property offers incredible value and opportunity! (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Bedroom | 12.00 Ft x 8.92 Ft | |
| Bedroom | 14.92 Ft x 16.67 Ft | |
| Laundry room | 7.08 Ft x 10.75 Ft | |
| Storage | 9.50 Ft x 7.25 Ft | |
| Furnace | 5.25 Ft x 5.33 Ft |
Main level
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | 5.00 Ft x 7.67 Ft | |
| Bedroom | 7.75 Ft x 11.17 Ft | |
| Dining room | 11.33 Ft x 13.67 Ft | |
| Kitchen | 16.42 Ft x 11.58 Ft | |
| Living room | 19.42 Ft x 13.58 Ft | |
| Primary Bedroom | 11.75 Ft x 11.17 Ft |
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Cash on cash
93.83%
Cap rate
23.63%
GRM
3.6
Break-even rent
$842
Financing
Operating expenses (monthly)
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Approximation only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Rough ballpark only. Pick a down-payment option, then tap any underlined number below to plug in your real numbers — tax, condo fee, insurance, utilities. Total updates live. Confirm with a mortgage broker before writing an offer.
Cost lines (tax, condo, insurance, utilities) are editable inline above. These two control the mortgage payment math.
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Suite rental income depends on permits, market rent, and vacancy — confirm with a property manager. Always validate your scenario with a mortgage broker and your insurance provider before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated May 20, 2026.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Milk River. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.