Property Summary: 218 Lake Village Road, Waverley Heights
Key Characteristics & Appeal
This 1,080 sqft bungalow, built in 1978, presents a compelling value proposition in the Waverley Heights neighborhood. Its primary appeal lies in its strong positioning within its immediate community on Lake Village Road. The home sits on a notably larger-than-average lot for the street (4,757 sqft vs. a 3,907 sqft street average), offering more outdoor space than most of its direct neighbors. It also boasts a living area above the street average, making it a relatively spacious home in its specific locale.
The property’s assessed value is below average for both the street and the wider neighborhood, which suggests a potential value opportunity for buyers. This combination—more land and living space than nearby homes, at a below-average valuation—creates an interesting profile. It would suit practical buyers looking for a solid, established home in a mature area, who prioritize lot size and see potential in a property that may be undervalued relative to its immediate surroundings. It’s a home that stands out on its own street more favorably than it does in broader neighborhood or city comparisons.
Frequently Asked Questions
Q: Is the below-average assessed value a concern?
A: Not necessarily. It indicates the city’s assessment is lower than many comparable homes, which can be a positive for property taxes. It often reflects the home’s specific condition or features at the time of assessment and may highlight an opportunity.
Q: How does the lot size compare practically?
A: While the lot is larger than most on Lake Village Road, it is below the Waverley Heights neighborhood average. This means you get a premium yard for the street, but not necessarily an exceptionally large lot for the entire area.
Q: The home was built in 1978. What does that mean for maintenance?
A: Being one of the newer homes on the street (ranked #1 out of 142 for year built) is a plus, as major components like the roof, windows, or furnace may be relatively younger. However, as with any home over 40 years old, a thorough inspection of these aging systems is essential.
Q: The living area is above average for the street but average for the city. What’s the takeaway?
A: This highlights the importance of location context. You are getting a home that feels spacious compared to its direct neighbors, which adds to livability and comfort on a day-to-day basis, even if its size is unremarkable in a city-wide search.
Q: What is the main value proposition here?
A: The data suggests you are purchasing a home that offers tangible advantages—newer construction and more space—within the micro-market of Lake Village Road itself, at an entry point that is financially accessible for the desirable Waverley Heights area.