Property Overview: 1401 Chancellor Drive, Waverley Heights

Section 1: Key Characteristics & Appeal

This home at 1401 Chancellor Drive presents a solid, well-positioned offering in the Waverley Heights neighborhood. Its primary appeal lies in its balance and practicality. With 1,072 sqft of living space, the house is neither the largest nor the smallest on its street, fitting comfortably within the local averages. This suggests a manageable size for upkeep without feeling cramped.

A standout feature is the lot. At over 6,000 sqft, the land area is notably larger than many lots on Chancellor Drive and in the wider neighborhood. This offers valuable outdoor space for gardening, recreation, or future expansion—a tangible asset that is increasingly rare.

Built in 1976, the property is typical for the area. Buyers should anticipate the maintenance and update projects common to homes of this era, but also benefit from established neighborhoods and mature landscaping. The assessed value is aligned with street and neighborhood averages, indicating a fair market positioning without an unexpected premium.

This property would suit first-time buyers or downsizers looking for a grounded entry into a stable neighborhood. It’s for those who value a larger yard more than a maximized interior footprint and are comfortable with a home that offers a blank canvas for personalization rather than move-in-ready perfection. It’s a practical choice for someone seeking a fair-value proposition in a known area.

Section 2: Frequently Asked Questions

1. Is this house a good value compared to others on the street?
The data suggests it is competitively positioned. Its assessed value ranks closely with its living area rank on Chancellor Drive, meaning you’re not paying a premium for the address alone. The larger-than-average lot size could represent a hidden value advantage.

2. What does the "around average" ranking for living area mean for daily life?
It means the home’s size is typical for the community. You likely won’t feel noticeably cramped compared to neighbors, but you also won’t have unusually large rooms. The layout and flow of the space will be more important to your experience than the square footage alone.

3. Should I be concerned that the year built is "below average" for the neighborhood?
“Below average” here means it’s slightly older than some homes in Waverley Heights, but only by a couple of years (1976 vs. a 1978 average). The difference is marginal. The citywide comparison is more telling, showing the home is actually newer than many in Winnipeg. Focus should be on the specific condition of this home.

4. How significant is the larger lot size?
It’s a meaningful differentiator. On a street where lots average about 5,565 sqft, this property’s 6,047 sqft provides roughly 500 extra sqft of outdoor space. This allows for more privacy, flexibility, and is a permanent feature that cannot be changed, unlike interior finishes.

5. Who determines these rankings and averages?
The comparisons are generated from publicly available municipal assessment data for directly comparable property types. The “average” (Avg) is a median benchmark, meaning half the comparable homes in that scope are above it and half are below, providing a realistic middle point for comparison.