Property Overview: 1262 Chancellor Drive, Waverley Heights, Winnipeg
Key Characteristics & Appeal
This home at 1262 Chancellor Drive presents a solid, average-value proposition in the established Waverley Heights neighborhood. Its key characteristic is consistency: with 1,012 sqft of living space, a 5,412 sqft lot, and an assessed value of $382k, it sits firmly around the average mark for its immediate street and neighborhood across almost every metric. Built in 1977, it is typical for the area.
The appeal lies in its stability and potential. It’s not the largest or newest home on the block, but it is a financially sensible entry into a mature community. The lot size is competitive for the street, offering standard outdoor space. A thoughtful perspective is that a "below average" living area, when paired with an "around average" lot, can suggest an opportunity for a thoughtful addition or expansion for a buyer looking to add value, rather than a fundamental limitation.
This property would suit first-time buyers or practical downsizers seeking an affordable foothold in Winnipeg without overextending financially. It’s for those who prioritize neighborhood character and lot size over move-in-ready square footage, and who see the value in a home that is priced in line with its immediate surroundings.
Frequently Asked Questions
1. Is the living area a significant drawback?
While the living area is below the local averages, it ranks similarly to many homes on the street. It represents a more compact, efficient layout that may appeal to those seeking lower utility costs and less maintenance.
2. How does the assessed value compare to likely market value?
The assessed value of $382k is very close to the street average of ~$390k, suggesting it is fairly valued by the city. This often provides a reliable baseline, though market conditions will determine the final sale price.
3. What does the 1977 build year mean for maintenance?
Built in the late 1970s, this home is of a very common vintage in the area. Buyers should budget for updates to major aging components like windows, roof, and mechanical systems, which is typical for homes of this era.
4. Is the lot size a positive feature?
Yes. The lot is consistent with the street average, providing standard backyard space for the neighborhood. It is not oversized, but it is not undersized either, offering typical development potential or yard use.
5. How does this property fit within the wider community?
The data shows this home is very representative of its specific street and the broader Waverley Heights neighborhood. It is not an outlier, which can be an advantage for resale and for feeling at home in a community of similar properties.