1002 Chancellor Drive

Property Overview: 1002 Chancellor Drive, Waverley Heights, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 1002 Chancellor Drive presents a distinct value proposition centered on its efficient use of space and favorable tax assessment. Built in 1978, it is notably newer than many homes on its street and in the wider city, suggesting potentially fewer concerns with aging infrastructure common to older builds. With 1,156 sqft of living space, it offers a comfortably sized interior that is very close to the average for both the street and the Waverley Heights neighborhood, making it a practical and proportional home for everyday living.

The primary appeal lies in its financial profile. The property's assessed value for taxes is significantly lower than comparable homes on its street, in the community, and across Winnipeg. This translates directly into lower annual property tax bills, a compelling and ongoing cost saving. The trade-off is a smaller land footprint (2,154 sqft), which means less yard maintenance—a bonus for those seeking a low-maintenance lifestyle—but limited space for large-scale expansions or gardening.

This property would suit first-time buyers or downsizers looking for a manageable, move-in-ready home in a established neighborhood without a premium price tag. It’s also a pragmatic choice for cost-conscious investors or buyers who prioritize interior space and modernized systems (implied by its newer build year) over a large yard.

Section 2: Frequently Asked Questions

1. What does the "newer build year" ranking actually mean for me?
While the home was built in 1978, it ranks in the top 6% on its street for being "newer." This means it's among the most recently built houses on Chancellor Drive. In practical terms, you may benefit from construction methods and materials that are a generation newer than many neighbors, which can influence everything from wiring and insulation to window and roof lifespan.

2. The land size is much smaller than average. What are the implications?
The lot is significantly more compact than most in the area. This greatly reduces yard upkeep time and cost. However, it also means very limited potential for adding extensions like a large garage, sunroom, or pool. Your outdoor living space will be defined and modest.

3. How significant are the property tax savings?
The assessed value is in the bottom 3% for the street and bottom 1% for the community. Compared to the street average of $390,000, this home's $280,000 assessment will result in substantially lower annual property taxes. This is a predictable, long-term financial advantage.

4. Is the living space too small?
At 1,156 sqft, it is slightly below the neighborhood average but ranks in the top half city-wide. It represents a efficient, average-sized home for the area—not sprawling, but perfectly adequate for a small family, couple, or individual. It's a space that encourages a simpler lifestyle without feeling cramped.

5. What's the main takeaway from all these rankings?
The data paints a picture of a home that prioritizes interior value and cost-efficiency over land. You are getting a relatively modern house with reasonable living space and low taxes, but on a lot that requires minimal exterior work. It's a balanced, financially sensible option in a mature neighborhood.