Property Summary: 272 Lake Village Road

Section 1: Key Characteristics & Appeal

This 800 sqft bungalow at 272 Lake Village Road presents a distinct value proposition within the desirable Waverley Heights neighborhood. Its key appeal lies in its position as a well-maintained, original-condition home on a mature street, offering an accessible entry point into a high-demand area.

The home is notably smaller than area averages, which translates to a more manageable footprint for downsizers, first-time buyers, or those seeking lower utility and maintenance costs. Despite the compact living space, its assessed value ranks highly on its own street (Top 18%), suggesting it is considered a premium property within its immediate context. This indicates strong intrinsic value for its specific location and condition. The lot, while smaller than many in the wider neighborhood, is a manageable size for casual gardening with minimal upkeep.

This property would ideally suit practical buyers who prioritize location and value over sheer size. It’s a strong match for empty-nesters looking to right-size without leaving the area, first-time buyers aiming for a foothold in a prestigious neighborhood, or investors seeking a stable rental property in a proven location. It appeals to those who see the potential in a solid, no-frills home and value the opportunity to customize over time.

Section 2: Frequently Asked Questions

1. Is the smaller living area a concern?
While below neighborhood averages, the 800 sqft layout offers efficient, manageable living. It represents an opportunity for lower ongoing costs and is typical of well-built bungalows from its era, often with practical floor plans.

2. How does the assessed value compare?
Its assessment is above average for Lake Village Road itself, which is a positive indicator of its standing among direct comparables. It sits below the broader Waverley Heights average, reflecting its smaller size and presenting a relative value within the neighborhood.

3. What does the year built (1977) mean for maintenance?
Built in 1977, the home is from a period with modern wiring and plumbing standards. Buyers should expect standard upkeep for a home of this age, including potential updates to roofing, windows, or mechanical systems, which is typical for any house nearly 50 years old.

4. Is the lot size sufficient?
At just over 3,000 sqft, the lot is smaller than many in the area but provides adequate private outdoor space. It’s a benefit for those who want a yard without the extensive maintenance required by larger plots.

5. Why is this home considered a good value for the neighborhood?
It allows access to Waverley Heights—a top-ranked area—at a price point often below the neighborhood norm due to its modest scale. You’re paying primarily for location and land value here, with a liveable home included, rather than for excessive square footage.