Property Overview: 1053 Chancellor Drive, Waverley Heights
Section 1: Key Characteristics & Appeal
This well-situated home on Chancellor Drive presents a practical and value-conscious opportunity. Its key characteristic is a modest 832 sqft living area, which is notably compact compared to most homes on its street, in Waverley Heights, and across Winnipeg. This positions it not as a sprawling family home, but as an efficient, manageable space.
The appeal lies in its balance and potential. While the interior is smaller, the nearly 5,000 sqft lot provides valuable outdoor space and is quite typical for the immediate street. The home was built in 1978, making it newer than most on its block and in the wider city, which can suggest more modern construction standards and potentially fewer major age-related concerns upfront. The assessed value is firmly in the average range for the area, indicating a fair market entry point rather than a premium price.
This property would suit first-time buyers, downsizers, or investors seeking an affordable foothold in a established neighborhood. It’s for those who prioritize location and lot size over interior square footage, and who see the compact layout as a chance for lower utility costs, easier maintenance, or a creative renovation to maximize the efficient use of space. It’s a home that offers the benefits of the community without paying for extra rooms you may not need.
Section 2: Frequently Asked Questions
Q: How significant is the smaller living area?
A: The home is in the top 6% for year built on its street, meaning it's one of the newer houses, but in the bottom 4% for size. This is the essential trade-off: you're getting a newer structure but with less interior space than neighbors. It requires a lifestyle suited to efficient living.
Q: Is the assessed value a good indicator of the listing price?
A: The assessed value of $376k is reliably "around average" for Chancellor Drive and Waverley Heights. This suggests the property is unlikely to be priced at a major premium or discount compared to nearby homes, making recent neighborhood sales a very good guide for its market value.
Q: What does the lot size mean for potential expansion?
A: The lot is slightly below the neighborhood average but typical for the street. While not oversized, the nearly 5,000 sqft footprint may allow for a thoughtful addition or a generous deck/patio, subject to zoning and permit approvals. The value is in the land's usability, not its sheer scale.
Q: Does "newer" construction (1978) mean fewer repairs?
A: While a 1978 build is newer than many Winnipeg homes, it is still over 45 years old. Major components like the roof, windows, furnace, and plumbing may be nearing or past their typical lifespans, so a thorough inspection is crucial. The "newness" is relative.
Q: How does this home rank city-wide?
A: City-wide, it ranks higher for its year built (top 35%) than for its size (top 89%) or value (top 45%). This highlights its profile: a competitively priced, relatively modern home in the city, whose defining feature is its compact, efficient footprint compared to the Winnipeg average.