3 Prospect Road – Property Summary
Key Characteristics & Buyer Profile
This 1,372 sqft home on a 5,579 sqft lot in Whyte Ridge (Winnipeg) was built in 1989. Its appeal is less about standout size and more about context. The living area and lot are below the street average, but the home itself ranks among the newest on Prospect Road (3rd out of 31 homes) and sits above the citywide median for assessed value. That combination—a newer build in a street where many homes are both larger and older—means you’re likely paying a premium for relative modernity, not for square footage or land.
The assessed value ($475k) is below the street and neighbourhood averages, but notably above the citywide average ($390k). This reflects the value of the neighbourhood itself, not just the house. For buyers, the property offers a foothold in Whyte Ridge at a lower entry point than many nearby homes, without sacrificing build era.
This property would suit a buyer who prioritizes a home that’s newer than much of the surrounding stock and wants to live in a well-established, mid-tier Winnipeg neighbourhood. It’s less ideal for someone seeking maximum square footage or a large lot relative to neighbours. A buyer here trades some space for a more recent build year and a location that ranks high citywide for value—without overpaying for street prestige.
Five Possible FAQs
1. How does this home’s assessed value compare to similar properties on Prospect Road?
It’s below the street average. Prospect Road homes average $562k in assessed value; this property is assessed at $475k, ranking 30th out of 31 homes. That means it’s among the more affordable options on the street.
2. Is the lot size considered small for the area?
On Prospect Road, yes—the lot is below average (5,579 sqft vs. a street average of 6,979 sqft). But within the broader Whyte Ridge neighbourhood and citywide, it’s around average, so the lot size is typical for the area, not an outlier.
3. Why is the assessed value above citywide average but below neighbourhood average?
This reflects the relative desirability of Whyte Ridge compared to Winnipeg as a whole. The neighbourhood carries higher property values, but this particular home sits at the lower end within that neighbourhood. So you get the benefit of a stronger local market without paying the top-tier price within it.
4. What does the home’s 1989 build year mean in practical terms?
It makes the house newer than about 77% of comparable homes citywide and nearly all others on Prospect Road (which average 1988). That can mean fewer major system replacements (roof, furnace, windows) compared to an older home, but it also means the house is over 35 years old—so a home inspection should still focus on original mechanicals and structure.
5. How does the living area rank within the neighbourhood?
It’s below average. Whyte Ridge homes in this comparison group average 1,666 sqft; this one is 1,372 sqft. The home ranks in the bottom quarter of the neighbourhood for size, so buyers should expect a more compact floor plan relative to nearby houses.