Property Summary: 1199 Chancellor Drive, Waverley Heights, Winnipeg

Section 1: Key Characteristics & Appeal

This well-situated home on Chancellor Drive presents a compelling blend of established value and above-average investment in its immediate surroundings. At 1,076 sqft, the living space is practical and aligns with the typical size for the street and neighborhood, offering a manageable layout without feeling cramped.

The property’s primary appeal lies in its strong standing relative to its direct peers. While the home itself is of average size for the area, its assessed value of $439k ranks in the top 12% on its own street and the top 25% within Waverley Heights. This suggests it is perceived as a higher-quality or better-maintained asset within its local market. Built in 1978, it is also newer than most comparable homes on Chancellor Drive (top 6%), indicating potentially fewer immediate concerns with aging infrastructure compared to neighbors.

The lot size of 5,754 sqft is typical for the street, providing standard outdoor space. This home would suit a buyer looking for a move-in ready property in a mature neighborhood, who values a home that already holds an above-average assessed value—a positive indicator for equity and stability. It’s a solid choice for those who prioritize a proven, established community over a brand-new build, and who appreciate a home that stands out favorably on its own block.

Section 2: Frequently Asked Questions

1. Is the living area smaller than average?
The living area is slightly below the citywide average for comparable homes, but it is very much in line with the typical size found on Chancellor Drive and within the Waverley Heights neighborhood. It represents the standard, efficient footprint of many well-built homes from its era.

2. Why is the assessed value notably higher than the street and neighborhood averages?
A higher assessed value than local averages often reflects specific factors like superior condition, meaningful updates, a premium lot location, or additions not captured in square footage alone. It indicates the city assessor views this property as a top-tier home within its immediate peer group.

3. What does the 1978 build year mean for maintenance?
Being newer than 94% of similar homes on its street is an advantage, potentially meaning updated major systems (like electrical or plumbing) relative to older neighbors. However, as a home from the late 70s, a thorough inspection is still advised to understand the condition of the roof, windows, and any original components.

4. How does the lot size compare?
The lot is very close to the average size for Chancellor Drive and is reasonably typical for the neighborhood. It offers standard suburban yard space but is not an unusually large or small parcel.

5. What is the main takeaway from all these rankings?
The data paints a picture of a home that is a standout on its own street in terms of value and relative newness, while being very typical in size. This can be appealing for a buyer seeking a quality home in an established area without paying a premium for the largest house on the block.