Property Summary: 993 Chancellor Drive, Waverley Heights, Winnipeg
Section 1: Key Characteristics & Appeal
This 1,152 sqft bungalow, built in 1978, presents a practical and value-conscious opportunity in the established Waverley Heights neighborhood. Its core appeal lies in its balance of a newer construction date relative to its immediate surroundings and a below-average assessed value, suggesting potential for equity growth.
The home’s living area is consistent with local averages, offering comfortable space for a small family, couple, or downsizer. A key, less obvious characteristic is its modest 2,257 sqft lot. While significantly smaller than most in the area, this translates to lower maintenance—a notable advantage for those seeking a manageable yard without the upkeep of a larger property. The data indicates you are purchasing a home that is newer than most on its street and in the broader neighborhood, yet at an assessed value that sits below local averages. This combination could suit first-time buyers entering a desirable area, practical investors looking for a stable rental property, or retirees wanting a single-level home with less outdoor work.
Section 2: Frequently Asked Questions
1. Is the smaller lot size a disadvantage?
It depends on your priorities. While it offers less private outdoor space than typical area homes, it significantly reduces landscaping time and cost. It may also contribute to the home's relatively lower assessed value, which can be an entry point into the neighborhood.
2. The assessed value is below average. Does that mean the home has issues?
Not necessarily. Assessed value is for municipal tax purposes and can be influenced by many factors, including the smaller lot and modest living area. It often represents a market value estimate that is below the current selling price of similar homes, but it can indicate a potentially favorable purchase price.
3. How does the 1978 build year compare?
This is one of the home's strengths. It ranks in the top 6% on its street and top 18% in Waverley Heights for being newer, meaning major components like wiring, plumbing, and insulation may be more modern than in many neighboring houses.
4. Who would this home not be suitable for?
Buyers requiring extensive indoor space, those who desire a large garden or expansive private yard, or anyone prioritizing a home at the top end of area values for immediate prestige may find other properties more aligned with their goals.
5. What does "around average" living area mean for daily life?
With 1,152 sqft, the layout is likely efficient rather than expansive. It comfortably accommodates standard living, dining, and bedroom areas typical of a bungalow from this era. It’s sufficient for most needs but may require creative storage solutions for larger households.