Property Summary: 40 Syracuse Crescent, Waverley Heights
Key Characteristics & Appeal
This home presents a compelling proposition centered on its exceptional lot. At nearly 9,600 sqft, the land area is the largest on Syracuse Crescent, offering rare space and privacy for the area. While the 1,120 sqft living space is comfortably average for the street and neighborhood, the property’s assessed value sits consistently above average across all levels—street, neighborhood, and citywide—suggesting the market recognizes its premium land value. Built in 1977, the house itself is among the older on its street, indicating a home with established character that may appeal to those valuing a generous yard over a newer build.
Its primary appeal lies in the significant potential of its oversized lot, whether for gardening, expansion, or simply enjoying ample outdoor space in a well-regarded neighborhood. This property would best suit buyers who prioritize land size and future potential over move-in-ready modernity. It’s an ideal fit for those looking to put their own stamp on a home, for families desiring extensive play space, or for long-term investors who understand that land is the appreciating asset.
Frequently Asked Questions
1. Is the house significantly smaller than others in the area?
No, the living area is quite typical. It ranks closely to the average for both Syracuse Crescent and the wider Waverley Heights neighborhood, meaning the interior space is in line with community norms.
2. Why is the assessed value above average if the house is older?
The assessed value reflects the total property package. Here, the premium is almost certainly driven by the elite-sized lot, which is a scarce and highly valued commodity, outweighing the age of the dwelling in the overall valuation.
3. What does the lot size actually mean for me?
Beyond simple bragging rights, a lot of this scale (over 47% larger than the street average) offers tangible benefits: greater distance from neighbors, more flexibility for additions like a garage, workshop, or deck, and substantial room for landscaping, gardens, or recreational space.
4. Does being one of the older homes on the street mean major updates are needed?
Not necessarily, but it’s a key inspection point. Its age suggests systems like roofing, windows, plumbing, or electrical may be at or beyond their typical lifespan, so a thorough inspection is advised to understand any required investments.
5. How does this property balance value and potential?
It offers a trade-off. You are acquiring a top-tier lot in a stable neighborhood with a house that provides adequate living space. The value is in the land and location; the potential (or future cost) lies in updating or expanding the existing structure to fully leverage the exceptional setting.