Property Overview: 27 Lakeshore Road, Waverley Heights
Key Characteristics & Appeal
This home presents a compelling proposition centered on generous interior space within a well-established setting. Its primary standout feature is its 1,919 sqft living area, which ranks above average for its street and places it within the elite top 5% for size in the desirable Waverley Heights neighborhood. This means you get significantly more house than most in the area. Built in 1975, the property is typical for its immediate street but is among the older homes in the broader neighborhood, suggesting a classic, settled character.
The appeal lies in this space advantage paired with a valuation that aligns with averages. While the home itself is larger than most nearby, its assessed value sits around the local and citywide norms. This can indicate a perceived value opportunity for buyers who prioritize square footage. The lot size is also consistent with area averages, providing standard outdoor space.
It would best suit buyers looking for a spacious family home in a mature neighborhood without a premium price tag for that extra room. It’s ideal for someone who values interior volume over a newer build date and sees potential in a well-located, classic property.
Frequently Asked Questions
1. Is the assessed value a good indicator of the listing or sale price?
Not directly. The assessed value is for municipal tax purposes. Market conditions, recent upgrades, and the home’s specific condition will determine the actual sale price. The assessment does, however, show the home is valued in line with area averages.
2. The home is older than many in Waverley Heights. Should I be concerned?
Not necessarily. An older build date on this street is typical. It primarily means the home may have original features or systems that could require updating, which is a key consideration for inspection and renovation budgeting.
3. The living area is in the top 5% for the neighborhood, but the value isn’t. Why?
This is the key point. The size premium may be offset by factors like the home’s age, layout efficiency, or condition. It suggests you are paying primarily for space, not for a premium finish level or newer construction, which can be an advantage for the right buyer.
4. How does the lot size compare?
At just under 6,000 sqft, the lot is slightly smaller than the street average but very typical for the wider neighborhood and city. It offers standard suburban outdoor space without being exceptionally large or small.
5. What do these rankings actually tell me?
They provide context. They show that this property’s most distinguishing feature is its above-average interior space within a sought-after neighborhood, while other metrics like value, age, and lot size are unexceptional. This helps identify what you are primarily getting for your investment.