231 Marygrove Crescent – Property Summary
Key Characteristics and Buyer Profile
This 1,244 sqft home built in 1991 sits on a 4,200 sqft lot in Whyte Ridge, Winnipeg. Its assessed value is $491,000. The property performs strongest in assessed value: it ranks in the top 16% on the street and top 21% city-wide, meaning it holds higher value relative to its size and age than many nearby homes. Living area is around average for both the street and the city, but below the neighborhood average, which skews larger. The lot is notably smaller than typical for the area—ranking in the bottom 7% within Whyte Ridge—which is worth noting for buyers who prioritize yard space or future expansion potential. The 1991 build date is newer than the city-wide average (1966) but on par with the street.
The appeal here is value density: a home that’s priced competitively relative to its assessed worth, in a solid mid-90s neighborhood with established homes. It suits buyers who want a move-in ready property in an older, stable suburb without paying a premium for a large lot or oversized living area. It may be less ideal for someone seeking a spacious lot, a newer build, or a home that stands out in square footage relative to neighbors.
Five Possible FAQs
1. Why is the assessed value strong despite the smaller lot and living area?
The value likely reflects the home’s condition, interior finishes, or location within the street—things assessed value picks up beyond just square footage and lot size. It may also be that comparable sales in the immediate area support a higher price per square foot than the neighborhood average.
2. How does the smaller lot affect resale or future use?
A 4,200 sqft lot is below the Whyte Ridge norm, which means less yard maintenance but also less room for additions, garages, or landscaping projects. For resale, it could narrow the buyer pool to those who prioritize the house over the land.
3. Is the 1991 build a concern for maintenance or renovations?
Homes from the early 90s are generally past the point of needing major systems replaced (roof, furnace, windows) unless already done. It’s worth checking when those were last updated. Structurally, 1991 is well within modern building standards, so no red flags there by default.
4. How does this home compare to others currently listed in Whyte Ridge?
Without current listing data, the rank suggests it’s priced below many neighborhood homes on a per-square-foot basis, given the smaller lot and living area. It may appeal to buyers priced out of larger properties in the same area.
5. Would this be a good investment property?
It could be, if rental demand in Whyte Ridge is strong and the purchase price reflects the assessed value. The smaller lot means lower upkeep costs, but the below-average land area may limit long-term appreciation compared to homes on larger lots in the same neighborhood.