Property Overview: 1739 Chancellor Drive, Waverley Heights
Key Characteristics & Appeal
This home on Chancellor Drive presents a compelling mix of space, location, and value. Its most standout feature is the exceptionally large, approximately 10,761 sqft lot, which ranks in the top 5% of comparable properties citywide. This offers rare potential for gardening, expansion, or simply enjoying generous private outdoor space in a well-established neighborhood.
The living area (1,456 sqft) is comfortably above average for both the street and the Waverley Heights area, providing ample room. The assessed value of $452k sits notably above local averages, suggesting a premium valuation for the property's specific attributes. Built in 1974, the home is slightly older than most on its immediate street, which may indicate a need for updates but also reflects the mature character of the area.
The appeal lies in securing a property with a truly elite-sized lot in a desirable neighborhood, coupled with above-average interior space. It would suit buyers prioritizing land size over a newer build—ideal for those seeking a long-term family home with room to grow, or value-conscious investors who see potential in the substantial lot. It’s a property for someone who views the land itself as a primary asset.
Frequently Asked Questions
1. Why is the assessed value significantly higher than the street and neighborhood averages?
The assessed value reflects the property’s specific characteristics, most notably its very large lot size, which is a major driver of value. It also considers the above-average living area, indicating the municipality views these combined features as commanding a premium.
2. The home was built in 1974. Should I be concerned about major systems?
While the build year is older than many on the street, it is around the citywide average. This is typical for mature Winnipeg neighborhoods. A thorough inspection is always recommended to assess the condition of the roof, foundation, plumbing, electrical, and HVAC systems, which may be nearing or past their typical lifespans.
3. What does the lot size ranking actually mean for me?
Ranking in the top 5% citywide for lot size means you are getting a property attribute that is increasingly rare. It translates to more privacy, landscaping possibilities, and potential for future additions like a deck, garage, or garden suite (subject to zoning bylaws).
4. How does this property compare to others in Waverley Heights?
It holds a strong position within Waverley Heights, ranking above average for both living area and assessed value. Its lot size is elite for the neighborhood (top 3%). However, it is one of the older homes in this specific area, so its condition and updates will be key compared to newer builds nearby.
5. Are the property taxes likely to be higher because of the high assessment?
Generally, yes. Property taxes are calculated using the assessed value. With an assessment well above local averages, you should budget for a correspondingly higher tax bill compared to neighboring homes with smaller lots and lower assessments.