Property Overview: 1622 Chancellor Drive, Waverley Heights
Key Characteristics & Appeal
This 1976-built home on Chancellor Drive presents a solid, value-oriented opportunity in the Waverley Heights neighborhood. With 1,046 sqft of living space on a 5,828 sqft lot, its key strength lies in its financial positioning rather than its size. The home’s assessed value of $410k is notably above the street average, yet remains competitive within the broader neighborhood and city. This suggests a property that is well-maintained or has features that justify its valuation relative to immediate comparables.
Its appeal is grounded in practicality. The lot size is generous for the street, offering above-average outdoor space. While the living area is modest, it aligns with the established character of the area. This property would suit a first-time buyer or a downsizer looking for a stable, no-surprises entry into a mature neighborhood. It’s for a buyer who values a predictable investment—a home that holds its own on the block and doesn’t require catching up to area norms—over a flashy or expansive floor plan. A thoughtful perspective is that its "above-average for the street" valuation could signal lower future volatility, acting as an anchor in its immediate micro-market.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the listing or sale price?
An assessed value is for municipal tax purposes and is not a direct market appraisal. However, this home’s value ranking significantly higher than its neighbors on Chancellor Drive is a notable data point that can inform market expectations.
2. How does the age of the home (1976) impact a purchase?
Built in 1976, the home is slightly newer than the average on its street. This typical age for the area means major systems (roof, windows, furnace) may be due for updates, but you benefit from established infrastructure and mature landscaping.
3. The living space seems smaller than averages. Is it a concern?
At 1,046 sqft, the living area is functional but compact. It ranks well on its specific street, indicating the homes nearby are of a similar scale. This is typical for the era and emphasizes efficient use of space over sheer size.
4. What does the lot size mean for potential use?
The 5,828 sqft lot is larger than most on Chancellor Drive. This provides valuable extra outdoor space for gardening, recreation, or future additions like a shed or deck, which is a key advantage in a mature neighborhood.
5. How does this property rank within the wider city?
Citywide, this home sits comfortably around average for its key metrics—neither a standout nor an outlier. This indicates it is a very representative Winnipeg property, which can be positive for long-term resale and marketability.