Property Overview: 36 Syracuse Crescent, Waverley Heights

Section 1: Key Characteristics & Appeal

This well-situated home on Syracuse Crescent presents a compelling blend of space, value, and established neighbourhood character. Built in 1978, its 1,120 sqft living area is typical for the street and Waverley Heights, offering comfortable, functional space without being excessive.

The property’s primary appeal lies in its significant lot size and strong valuation. The 7,721 sqft land parcel is notably larger than most on the street and in the wider area, providing ample outdoor space and potential. This is complemented by an assessed value of $501k, which ranks in the top 5% on its own street and top 7% in the neighbourhood, suggesting a premium perception relative to nearby homes. This creates an interesting dynamic: you’re acquiring a home with a footprint and valuation that stand out locally, while the house itself offers manageable, average-sized living quarters.

This home would suit buyers looking for a solid investment in a mature neighbourhood, particularly those who prioritize generous outdoor space over a massive interior. It’s ideal for someone who sees value in a larger, private yard for gardening, recreation, or future expansion. The strong assessed value indicates a property that has kept pace or outperformed its immediate peers, appealing to the value-conscious buyer who appreciates established, tree-lined streets.

Section 2: Frequently Asked Questions

1. Is the living area smaller than average?
While the 1,120 sqft living area is slightly below the citywide average for comparable homes, it is directly in line with the averages for both Syracuse Crescent and the Waverley Heights neighbourhood. It represents the typical, comfortable size for this specific area.

2. Why is the assessed value so high relative to the home’s size?
The assessed value reflects more than just living area. Key contributors are likely the significantly larger-than-average lot size and the property’s standing within a desirable, established neighbourhood. Value is driven by the land asset and location as much as the square footage of the home itself.

3. What does the "Elite" street ranking for value actually mean?
Ranked #3 out of 59 on its street, this means only two other comparable homes on Syracuse Crescent have a higher assessed value. It signals that this property is considered among the most valuable on its block, which can be a positive for equity and prestige, though property taxes will be calibrated accordingly.

4. As a 1978 build, will it need major updates?
The year built is exactly the average for the street and neighbourhood. Homes from this era may have undergone renovations, so the condition of major systems (roof, windows, HVAC) and interior finishes should be verified through a professional inspection. Its age is typical and not a standout concern for the area.

5. How does the large lot size benefit me?
Beyond providing more private outdoor space, a larger lot offers greater flexibility. It can accommodate additions like a shed, deck, or patio more easily, provides better privacy from neighbours, and may have more favourable zoning potential. It’s a long-term asset that newer subdivisions often lack.