172 Marygrove Crescent – Property Summary
Key Characteristics & Buyer Profile
This 1992-built home sits on a 4,200 sqft lot in Whyte Ridge, Winnipeg. With 1,271 sqft of living space and an assessed value of $481,000, the property offers a compact footprint that aligns closely with street-level and citywide averages. Its strongest comparative advantage is its age: it ranks in the top 8% for newer construction on Marygrove Crescent, and top 21% citywide—meaning most Winnipeg homes are significantly older.
Where the property falls short is land area. The lot is well below the Whyte Ridge average (4,200 vs. 6,175 sqft), ranking in the bottom 7% of the neighbourhood. The assessed value is also below the neighbourhood median, though above the citywide median. This suggests a home that is relatively modest for its area in terms of yard space and price, but newer than many nearby alternatives.
The appeal lies in a lower entry point into a desirable, established neighbourhood. Buyers get a newer home without paying a premium for a large lot they may not want to maintain. This property would suit owners who prioritize interior quality, low outdoor upkeep, and a central location over sprawling yard space. It may also appeal to those looking for a home that is already priced below neighbourhood averages, potentially leaving room for gradual value growth as surrounding properties appreciate.
Five Possible FAQs
1. How does the property’s assessed value compare to similar homes nearby?
The assessed value of $481,000 is slightly above the street average of $476,300, but below the Whyte Ridge neighbourhood average of $529,600. Citywide, it ranks in the top 23%, meaning it is valued higher than most Winnipeg homes.
2. Is the lot size unusually small for the area?
Yes. At 4,200 sqft, it is about 30% smaller than the Whyte Ridge average of 6,175 sqft. It ranks in the bottom 7% of the neighbourhood for land area. However, it is closer to the street average on Marygrove Crescent (4,732 sqft), so smaller lots are not unheard of on this particular street.
3. When was the home built, and how does that compare to other homes?
The home was built in 1992. This places it in the top 8% for newer construction on Marygrove Crescent and top 21% citywide. Most homes in Winnipeg were built significantly earlier (citywide average is 1966). In the Whyte Ridge neighbourhood, the average build year is 1994, so this home is slightly older than the local median but still newer than most citywide alternatives.
4. Why is the property priced below the neighbourhood average if it’s newer?
Land area is a major factor. The smaller lot lowers the overall assessed value compared to neighbours with larger yards. Newness alone does not fully offset the value tied to land size in a neighbourhood where bigger lots are the norm. This can create an opportunity for buyers who are less concerned with outdoor space.
5. How does the living area compare to typical homes in Whyte Ridge?
At 1,271 sqft, the living area is below the Whyte Ridge average of 1,666 sqft. It ranks in the bottom 20% of the neighbourhood. However, it is close to the citywide average of 1,342 sqft and roughly on par with other homes on Marygrove Crescent. This is a compact home by neighbourhood standards, not by city standards.