Property Overview: 1695 Chancellor Drive, Waverley Heights, Winnipeg
Key Characteristics & Appeal
This home presents a compelling blend of space, value, and established neighborhood character. Its primary strengths are its generous lot size and solid footprint. The 6,958 sqft property is notably larger than most, ranking in the top 10% on its own street and above the citywide average, offering excellent outdoor potential. With 1,262 sqft of living space, it sits comfortably above the local street average, providing ample room.
The appeal lies in its balanced position. While the 1974 build date means it's older than many homes in the immediate area, this is reflected in a property assessment that offers relative value. The assessment ranks higher than the street average, suggesting the municipal valuation recognizes the desirable lot and living space. This combination makes it a property where you are paying more for tangible assets (land and square footage) rather than just recent updates.
It would suit practical buyers looking for a home with room to grow or customize in a mature neighborhood. It's ideal for someone who values a larger yard over a newer build and is comfortable with a home that may benefit from personal updates over time. It represents a classic "good bones" opportunity in a well-established part of Winnipeg.
Frequently Asked Questions
1. What does the 1974 build date mean for me?
While the home is older than many on its street, its core structure and systems are 50 years old. A thorough inspection is crucial to understand the condition of the roof, wiring, plumbing, and foundation. This age also means renovation potential, allowing you to customize to modern tastes.
2. The assessment value seems high for the street. Is that good or bad?
A higher assessment than the street average generally indicates the city views the property's combined attributes (lot size, living area, location) favorably compared to neighbors. It suggests you're getting a property with recognized underlying value, though it does correlate with a proportionally higher property tax bill.
3. How significant is the lot size advantage?
Ranking in the top 10% on the street for land size is a major asset. It provides more privacy, space for gardens, play areas, or additions like a deck or shed, which are harder to find in established neighborhoods. This is often the most permanent and valuable aspect of a property.
4. Is the living space adequate for a family?
At 1,262 sqft, it is above the local average and provides a functional footprint for a family. The layout is as important as the square footage, so viewing the floor plan is key to see if the space is configured to suit your needs.
5. How does this home compare to the wider Winnipeg market?
On a citywide scale, this property is very balanced. Its living space and age are close to the Winnipeg average, while its lot size is notably above average and its assessed value is competitive. This indicates it's a representative Winnipeg home with a standout lot.