Discover Affordable Mahogany Homes for Sale Under $500,000 in Calgary (Updated Daily)

Mahogany, the vibrant and desirable community in Calgary, is not just known for its luxurious lakefront properties. The neighborhood also offers a selection of homes for sale under $500,000, providing an excellent opportunity for first-time homebuyers, young families, and those seeking more affordable options without compromising on the Mahogany lifestyle.

Highlights of Mahogany Homes Under $500,000 in Calgary

  1. Lakeside Living at a Lower Price Point: While Mahogany is renowned for its premium lakefront homes, the community also features more affordable options, allowing residents to enjoy the benefits of lakeside living without breaking the bank.

  2. Diverse Home Styles: The homes for sale under $500,000 in Mahogany come in a variety of styles, including townhouses, semi-detached, and compact single-family residences, catering to diverse homebuyer needs and preferences.

  3. Functional and Efficient Layouts: These more affordable Mahogany homes often feature well-designed floor plans that maximize living space, with open-concept living areas, ample storage, and thoughtful use of square footage.

  4. Modern Finishes and Amenities: Even at the lower price point, the Mahogany homes under $500,000 boast contemporary finishes, such as stainless steel appliances, quartz or granite countertops, and energy-efficient features, providing a sense of quality and comfort.

  5. Access to Community Amenities: Regardless of the home's price, Mahogany residents enjoy full access to the community's exceptional amenities, including the 49-acre lake, parks, walking trails, recreation centers, and a vibrant commercial district.

  6. Ideal for First-Time Homebuyers: The Mahogany homes under $500,000 represent an excellent entry point into the Calgary real estate market, allowing first-time homebuyers to establish a foothold in a highly desirable community.

  7. Investment Potential: With Mahogany's reputation for growth, desirability, and continuous development, these more affordable homes can offer strong long-term investment opportunities for homeowners.

  8. Convenient Location: Mahogany's strategic location provides easy access to major transportation routes, employment hubs, and a variety of recreational and leisure options, making it an attractive choice for a wide range of homebuyers.

Work with a Trusted Real Estate Professional

To explore the available Mahogany homes for sale under $500,000 in Calgary, we recommend partnering with a seasoned real estate expert like Diane Richardson. Diane's deep understanding of the local market and commitment to personalized service will ensure you find the perfect home that aligns with your budget, lifestyle, and investment goals.

Contact Diane Richardson:
Phone: 403.397.3706
Email: diane@mypadcalgary.com

Discover the Affordable Allure of Mahogany, Calgary

Explore the captivating Mahogany homes for sale under $500,000 in Calgary, where lakeside living, modern amenities, and exceptional value converge. Partner with Diane Richardson to find your dream home in this vibrant and desirable community.

There are several ways to contact Diane Richardson:

  1. Contact form: Fill out the contact form on my website to send me a message directly from the page. Please include your name, email address, and a message, along with the property address or MLS® number for the listing you're interested in.

  2. Phone number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

  3. Email address: Reach out to me at Diane@Mypadcalgary.com with any questions or to request more information.

  4. Live chat: Utilize the live chat feature on my website to get in touch with me in real-time and receive immediate answers to your questions.

No matter which method you choose, I'm always here to assist you with your real estate needs.

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127 Varsity Estates Grove NW
Varsity Calgary T3B 4C8

$1,850,000
Residential beds: 5 baths: 3.0 2,007 sq. ft. built: 1975

Main Photo: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
Photo 1: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
Photo 2: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
Photo 3: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
Photo 4: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
Photo 5: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
Photo 6: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
Photo 7: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
Photo 8: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
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Photo 10: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
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Photo 12: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
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Photo 22: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
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Photo 24: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
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Photo 37: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
Photo 38: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
Photo 39: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
Photo 40: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
Photo 41: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
Photo 42: 127 Varsity Estates Grove NW in Calgary: Varsity Detached for sale : MLS®# A2220663
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2220663
Bedrooms:
5
Bathrooms:
3
Year Built:
1975
Welcome to this beautifully updated bungalow, nestled on a quiet street in the prestigious community of Varsity Estates. Boasting over 3,700 sq ft of thoughtfully designed living space, this stunning home offers 5 bedrooms, an oversized double attached garage, and sun-soaked rooms throughout. Meticulously maintained and extensively updated, most recently between 2022 and 2024, it features fresh paint, two new furnaces, a new driveway, custom built-in storage, drinking water filtration system, garburator, new dishwasher, brand-new carpet, and a recently finished gym area in the basement—ensuring a true move-in-ready experience. Step into a welcoming foyer that opens into an expansive chef’s kitchen outfitted with granite countertops, high-end stainless steel appliances, custom maple cabinetry by Denca, and a functional breakfast bar. In-floor heating spans tiled areas on the main floor, adding comfort and warmth. The open-concept living and dining space is bathed in natural light from wall-to-wall windows and features a cozy stone-clad, wood-burning fireplace with gas assist. Exterior electric metal blinds on the living room and deck doors offer added comfort and privacy. French doors open onto a large south-facing deck, with two gas hookups added, that overlooks a ¼-acre, park-like backyard—perfect for outdoor entertaining, gardening, or peaceful relaxation. The primary bedroom is a private retreat with custom built-ins in addition to a walk-in closet, and a spa-like 4-piece ensuite with dual sinks and a luxurious steam shower. Two additional bedrooms and a 4-piece bathroom complete the main level. The fully finished walkout basement is designed for entertaining, featuring a spacious family room with a wet bar, a second fireplace, and direct access to the landscaped backyard with brick patio and gazebo. The lower level also offers two more bedrooms, a versatile den (ideal as a 6th bedroom or home gym), a well-equipped laundry room, and another 4-piece bathroom with a relaxing sauna. Mechanical highlights include two newer furnaces, central A/C, a water softener, and meticulous maintenance throughout. Situated on an expansive lot just minutes from parks and trails, top schools, shopping, dining, and the University of Calgary, this home combines space, style, and an unbeatable location. A true gem in Varsity Estates!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bungalow
Total Living Area:
2,006.63 sq. ft.
Main Level Finished Area:
2,006.63 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,729.47 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
11,076 sq. ft.
Lot Frontage:
44'5"
Acres Cleared:
Acres Cultivated:
Acres Irrigated:
Acres Leasehold:
Acres Not Cultivated:
Acres Freehold:
Acres Seeded:
Acres Tame Hay:
Acres Treed:
Acres Waste:
Acres Water Rights:
Front Exposure:
North
Reg. Size:
Reg. Size Includes:
Levels:
One
Total Rooms Above Grade:
8
Year built:
1975 (Age: 50)
Bedrooms:
5 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
2
Bathrooms:
3.0 (Full:3, Half:0)
Plan:
7411014
Heating:
In Floor, Fireplace(s), Forced Air, Natural Gas
Basement:
Finished, Full, Walk-Out To Grade
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Parquet, Tile
Cooling:
Central Air
Fireplaces:
2
Fireplace Details:
Family Room, Gas, Living Room, Wood Burning
Garage:
1
Garage Spaces:
1
Parking:
Double Garage Attached, Driveway, Garage Door Opener, Garage Faces Front, Oversized
Parking Places:
2
Parking Total/Covered:
2 / -
Laundry Features:
In Basement, Laundry Room, Sink
Varsity
Dishwasher, Dryer, Garage Control(s), Gas Range, Microwave, Range Hood, Refrigerator, Washer, Window Coverings
Refrigerator, Dishwasher, Range Hood, Microwave, Gas Range, Washer, Dryer, AC Unit, All window coverings, Garage door opener with control(s)
None Known
Floor
Type
Size
Other
Main Floor
Living Room
15'9" × 13'8"
Main Floor
Kitchen
14' × 11'11"
Main Floor
Pantry
6'1" × 4'9"
Main Floor
Dining Room
20'1" × 14'5"
Main Floor
Bedroom - Primary
21'7" × 10'9"
Main Floor
Walk-In Closet
5'8" × 4'
Main Floor
Foyer
6' × 5'8"
Main Floor
Office
5'7" × 5'3"
Main Floor
Bedroom
9'11" × 9'10"
Main Floor
Bedroom
10'4" × 10'
Main Floor
Walk-In Closet
4'10" × 2'7"
Basement
Game Room
27'6" × 13'3"
Basement
Bedroom
12'4" × 9'8"
Basement
Bedroom
10'11" × 9'1"
Basement
Bonus Room
13'8" × 11'7"
Basement
Other
9' × 8'7"
Basement
Laundry
10' × 9'4"
Basement
Sauna
9'4" × 8'
Basement
Furnace/Utility Room
9'3" × 5'8"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
4'5" x 17'7"
Main Floor
No
4
4'10" x 6'11"
Basement
No
3
5'9" x 9'4"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Breakfast Bar, Built-in Features, Granite Counters, High Ceilings, Kitchen Island, Open Floorplan, Pantry, Sauna, Storage, Walk-In Closet(s)
Exterior Features:
Other, Private Yard
Patio And Porch Features:
Deck, Patio
Lot Features:
Back Yard, Front Yard, Lawn, Low Maintenance Landscape, Street Lighting, Views
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone NW
Zoning:
R-CG
Listed Date:
May 16, 2025
Days on Mkt:
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Virtual Tour

Listed by Greater Property Group
Data was last updated May 20, 2025 at 06:05 AM (UTC)
Area Statistics
Listings on market:
48
Avg list price:
$450,000
Min list price:
$219,900
Max list price:
$2,700,000
Avg days on market:
19
Min days on market:
3
Max days on market:
98
Avg price per sq.ft.:
$435.05
These statistics are generated based on the current listing's property type and located in Varsity. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706