45 Lake Village Road

Property Summary

Section 1: Key Characteristics & Appeal

This property at 45 Lake Village Road in Waverley Heights presents a compelling mix of value and location-specific advantages. Its key characteristic is a well-balanced profile within its immediate neighborhood. With 809 sqft of living space, it is close to the average for Lake Village Road itself, making it a typical home for the street. The 4,545 sqft lot size is notably above the street average, offering more outdoor space than many direct neighbors.

The appeal lies in its efficient use and desirable positioning. The home, built in 1977, is newer than most on its street and aligns with the area's established character. Crucially, its municipal tax assessment value ranks in the top 17% on its street, suggesting it is perceived as a well-maintained or favorably situated property within this specific enclave, even though its value is below the broader Waverley Heights community average. This creates an opportunity: you acquire a home that stands out on its own block while paying property taxes benchmarked against a more modest street-level average.

This home would suit first-time buyers or downsizers seeking an established, quiet street in the Waverley Heights area without the premium price tag of larger lots in the wider community. It’s for a practical buyer who values a generous yard for the street and a home that is competitively positioned within its micro-location, rather than one seeking above-average square footage.

Section 2: Frequently Asked Questions

1. How does the below-average living space impact daily living?
At 809 sqft, the home is efficient and likely easier to maintain. It encourages a simpler lifestyle and may have a lower utility cost. The trade-off is less room for expansive furniture or dedicated hobby spaces, making functional layout and storage solutions key.

2. The tax assessment is high for the street but low for the area. What does this mean?
This indicates the city assesses this property as one of the better homes on Lake Village Road. For you, it means potentially higher property taxes than some neighbors, but it also implies the home has attributes (like condition, features, or location on the block) that hold value. Compared to the rest of Waverley Heights, however, your tax bill would likely be lower.

3. The lot is larger than the street average but smaller than the community average. Is that good?
Yes, in this context. You get a yard that is more private and spacious than most direct neighbors, which is a tangible benefit. While not an estate-sized lot, you gain the outdoor advantage most relevant to your immediate living environment.

4. The home was built in 1977. What should I be aware of?
Homes from this era may have original components, like windows, roofing, or major systems (furnace, electrical), that are nearing or past their typical lifespan. A thorough inspection is essential to understand the condition and plan for any updates, which can be an opportunity to customize.

5. The rankings show it's "below average" for Waverley Heights in size and value. Is this a concern?
Not necessarily. It reflects that this is a more modest, entry-point property into the desirable Waverley Heights community. You benefit from the community's location and amenities while owning a home that is proportionally sized and priced. It’s a strategic way to access the area.