Key Characteristics & Ideal Buyer Profile

This 1,580 sqft single-family home in Waverley Heights (Chancellor Drive) was built in 1977 on a 4,998 sqft lot. Its assessed value sits at $399,000. The living area is the standout feature—well above the average for the street, the neighbourhood, and the city. It ranks in the top 12% on Chancellor Drive and top 16% across Waverley Heights for size. The land area, by contrast, is below average for both the immediate street and the wider area, meaning this is a house that prioritizes interior space over a large yard. The assessed value is near the median for the neighbourhood, suggesting the price is in line with what similar homes typically go for around here.

The appeal lies in getting noticeably more finished square footage than most properties at the same price point in this part of Winnipeg. For someone who values a spacious main floor and larger bedrooms over a big backyard or a newer build, this layout makes sense. The 1977 construction is typical for the area—solidly built, often with good bones—but a buyer should expect original features that may need updating over time. This home would suit a family, a couple planning for future space, or someone looking for a floor plan that feels roomier without jumping to a higher price bracket. It is less ideal for buyers who want a generous lot for gardening, sheds, or outdoor entertaining, or those set on a recently renovated interior.

Five Possible FAQs

1. Is the 1977 build a concern, or is it typical for the neighbourhood?
Homes from the mid-to-late 1970s are common in Waverley Heights. The year-built ranking here is near the middle for Chancellor Drive but slightly below average for the wider area. Construction of that era tends to feature larger rooms and solid framing, but mechanical systems (furnace, roof, windows) may be original or nearing replacement age. A home inspection focusing on those components is advisable.

2. How does the lot size compare to other homes on the street?
The lot is roughly 5,000 sqft, which ranks in the bottom 30% on Chancellor Drive. Many neighbouring properties have deeper or wider lots. If a large yard for a playset, garden, or future addition is important, this may feel tight. The trade-off is more interior square footage than most homes in the area offer.

3. Does the assessed value of $399,000 reflect the actual market price?
Assessed value is a baseline, not a firm listing price. It indicates the property is priced near the median for Chancellor Drive and Waverley Heights. However, because the living area is above average while the lot is below average, the final sale price will depend on how buyers weigh indoor space versus outdoor space. Comparable sales in the immediate area should be the real guide.

4. What kind of updates might this home need?
Without specifics on the property, a 1977 home in this price range often has original kitchens, bathrooms, flooring, or windows. The ranking data suggests the home is not newly renovated or dramatically upgraded. A buyer should budget for potential updates to plumbing, electrical, or insulation to meet current standards—especially if lower energy efficiency is a concern.

5. Who typically buys homes in this part of Waverley Heights?
Waverley Heights attracts a mix of families, professionals, and long-term residents. The schools, parks, and access to Pembina Highway make it practical. Homes with larger-than-average living areas on modest lots tend to appeal to buyers who want more indoor room for a lower price than newer subdivisions offer, rather than buyers seeking a premium outdoor footprint. It is a practical, middle-ground neighbourhood, not a luxury enclave.