Property Overview: 1330 Chancellor Drive, Waverley Heights
Key Characteristics & Appeal
This home presents a distinct value proposition within its established Waverley Heights neighborhood. Its primary characteristic is a below-average assessed value of $321k, which is notably lower than averages on its own street ($389.8k) and in the wider neighborhood ($398.1k). This is paired with a smaller, 800 sqft living area and a compact 3,287 sqft lot, both significantly below local and city averages.
The appeal lies in affordability and efficiency. It suits first-time buyers or investors seeking an entry point into a stable neighborhood without the premium price tag of larger homes on the same block. The home, built in 1977, is of a typical vintage for the area. A thoughtful perspective is that the smaller lot and home size translate to lower maintenance costs and less upkeep—an advantage for those seeking a simpler footprint or looking to minimize ongoing expenses. It’s a practical choice for someone who values location and financial accessibility over square footage, offering a chance to build equity in a well-ranked citywide area.
Frequently Asked Questions
1. Why is the assessed value so much lower than the neighbors?
The assessed value is typically based on factors like living area, lot size, and building characteristics. This home’s significantly smaller size (800 sqft vs. a street average of 1,220 sqft) and smaller lot are the primary drivers of its lower valuation.
2. Is a smaller lot a disadvantage?
It depends on your priorities. While it offers less outdoor space for gardening or expansion, it also means less yard work and lower property taxes relative to land size. It can be a benefit for those seeking low-maintenance living.
3. How does the home’s age compare to others nearby?
Built in 1977, it is perfectly average for Chancellor Drive (avg. 1978) and the Waverley Heights neighborhood (avg. 1978). You can expect similar construction materials and potential renovation timelines as most homes on the block.
4. What do the ranking percentiles (e.g., Top 97%) mean?
A “Top 97%” rank for living area means the property’s square footage is in the bottom 3% for the neighborhood—it’s smaller than 97% of comparable homes. Conversely, a “Top 64%” for citywide value means its assessed value is higher than 64% of city comparables, indicating its valuation is more competitive on a citywide scale.
5. Who would this property not suit?
It would likely not suit buyers who need ample indoor space for a growing family, desire extensive outdoor privacy and room, or are looking for a home with values and sizes that are above-average for the immediate street.