Property Summary: 11 East Lake Drive, Waverley Heights
Key Characteristics & Appeal
This 1,152 sqft bungalow, built in 1978, presents a compelling case for value-conscious buyers seeking a well-sized home in a mature neighborhood. Its primary appeal lies in a smart balance of space and price. The living area is notably above average for its street, offering more interior room than most direct neighbors, while its assessed value sits comfortably below the broader neighborhood and city averages. This suggests you're getting more house for your dollar compared to the immediate area.
The property is ideally suited for first-time buyers, downsizers, or investors looking for a manageable layout without a sprawling yard. The compact, 1,980 sqft lot is a key differentiator: it means significantly lower maintenance than typical area properties, but also less private outdoor space. A thoughtful perspective is that this home outperforms its street peers in living space and age, yet carries a valuation that is modest for Waverley Heights. This creates a potential opportunity to own in the neighborhood at a more accessible point, trading a large yard for a practical, low-maintenance footprint.
Frequently Asked Questions
1. Is the living space sufficient for a small family?
Yes. At 1,152 sqft, the home is larger than most on its street (top 6%) and provides a practical amount of space for a couple or small family, especially when compared to other homes from the same era.
2. Why is the assessed value lower than the neighborhood average?
The assessed value of $301k is below the Waverley Heights average primarily due to the home's significantly smaller lot size. This is a key factor in making the property more affordable than others in the area.
3. What are the implications of the smaller lot?
The 1,980 sqft lot is much smaller than most in the neighborhood and city. This translates to far less yard maintenance, but also limited potential for expansions like large decks, pools, or additions. It's ideal for those who prefer indoor living space over extensive gardening.
4. How does the year built affect this home?
Built in 1978, the home is newer than many on its street and in the city overall. Buyers should still budget for updates common to houses of this age, but it may have benefited from more modern construction standards than older neighborhood homes.
5. Is this a good value compared to the rest of the street?
The data suggests it is. You get a home with above-average living area and a newer build date for a price that is around the street's average. You're essentially getting more house for a typical street price, with the trade-off being a lot size that is average for East Lake Drive.