Property Overview: 70 Meadow Lake Drive
Key Characteristics & Appeal
This 1,040 sqft bungalow, built in 1983, presents a compelling opportunity centered on its land. The standout feature is the 6,959 sqft lot, which ranks in the top 5% on its own street and the top 11% within the Meadows neighborhood. This offers significantly more outdoor space than typical area homes, providing room for gardening, expansion, or private recreation.
The home itself is modest in size, with a living area and assessed value that are consistently around the average for its immediate area. This suggests a property where the value is not in high-end finishes or expansive square footage, but in a solid, no-frills foundation on a premium lot. Its recent sale in the $350k-$400k range aligns with this profile.
This property would suit a practical buyer who sees potential in the land itself. It’s ideal for a first-time homeowner comfortable with a home that may need updates, a downsizer looking for manageable indoor space with generous outdoor room, or an investor/renovator who recognizes the long-term value of a large lot in an established neighborhood. The appeal is less about the current structure and more about the possibilities the parcel affords.
Frequently Asked Questions
1. Is the large lot usable, or is it an odd shape?
While the listing confirms the lot size, it’s always wise to view the property or check the neighborhood map analysis to understand the lot's dimensions, topography, and any potential easements that might affect its use.
2. The home’s size is below average city-wide. Will it feel cramped?
At 1,040 sqft, it is a compact bungalow. It would suit individuals, couples, or small families who prioritize efficient living space and value the large yard over a larger interior. The floor plan’s layout will be a key factor in how spacious it feels.
3. The assessed value seems low. Does that mean the taxes are low?
The assessed value of $36,600 is for municipal tax purposes and is not the market value (as indicated by the recent sale price). While a lower assessment can correlate with lower property taxes, taxes are also determined by the municipal mill rate. The recent sale price will likely trigger a reassessment.
4. As a home from the 1980s, what major systems might need attention?
A home of this age may have original or older roofing, windows, HVAC systems, and plumbing. A thorough inspection is crucial to budget for potential updates to these major components, which is typical for homes in this era.
5. How can I get the exact past sale price?
The provided sold price is a range based on public data. As noted on the listing, you can request the exact historical sale price by emailing the service directly. They provide this detail manually and state they do not use email addresses for unsolicited marketing.