1481 Chancellor Drive

Property Overview: 1481 Chancellor Drive, Waverley Heights, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 1481 Chancellor Drive presents a balanced offering in Winnipeg's Waverley Heights neighborhood. Its primary appeal lies in providing above-average living space at a below-average property tax assessment value within its immediate area.

The 1,248 sqft residence is notably spacious for Chancellor Drive, ranking in the top 30% of homes on the street. Built in 1978, it is newer than many comparable homes in both the street and the wider community. The lot size of 5,826 sqft is consistent with local norms. A standout characteristic is its property tax assessment of $354,000, which is meaningfully lower than the averages for both Chancellor Drive ($390,000) and Waverley Heights ($398,000). This suggests the potential for relatively lower property taxes, a significant and ongoing cost consideration.

This property would suit practical buyers looking for value and space in an established neighborhood. It’s ideal for those who prioritize more interior square footage over having the largest lot or the newest home on the block. The data indicates it’s a sensible choice for families or long-term owners who appreciate a home that is well-sized for its street while carrying a tax assessment that doesn’t premium for its location. It represents a grounded opportunity to acquire a home with solid fundamentals without paying at the top of the local market.

Section 2: Frequently Asked Questions

1. What does the tax assessment ranking actually mean for me?
The assessment of $354,000 is lower than 79% of homes on Chancellor Drive. While not a direct predictor of your final tax bill, a lower assessment is typically a positive factor that can contribute to lower annual property taxes compared to similar-sized homes on the same street.

2. The home was built in 1978. Should I be concerned about major updates?
The 1978 build year ranks in the top 6% for newness on its street, meaning it’s actually one of the newer homes in the immediate vicinity. However, as with any home over 40 years old, the condition and updates to key systems (roof, windows, HVAC, plumbing) will be more important than the build year itself and should be verified during an inspection.

3. How does the living space compare to the typical Winnipeg home?
At 1,248 sqft, the living area is very close to the Winnipeg average of 1,342 sqft. Its strength is more localized: it offers more space than 70% of the homes directly on Chancellor Drive, making it a roomier option within its specific neighborhood context.

4. Is the lot size a pro or a con?
The lot is slightly larger than the average for Chancellor Drive but slightly smaller than the average for Waverley Heights. It’s a standard, manageable size for the area—not a sprawling estate, but also not cramped. It suits buyers who want a decent outdoor space without the high maintenance of a very large yard.

5. What is the main takeaway from all these rankings?
The data paints a picture of a home that offers a competitive combination: it’s spacious for its street and newer than most neighbors, yet carries a lower-than-street-average tax assessment. This creates a value proposition where you may get more interior space per tax dollar compared to other homes on Chancellor Drive.