Property Overview: 71 Lake Village Road

Key Characteristics & Appeal

This home presents a compelling case as a well-maintained property within its immediate streetscape. At 900 sqft on a 3,719 sqft lot, its living area and lot size are very typical for Lake Village Road, ranking near the middle of the pack among its direct neighbors. This suggests a comfortable fit within the street's character. The 1977 build year is notably above average for the street, indicating it may be among the more modern homes in that specific row.

The broader appeal lies in its value positioning within the desirable Waverley Heights neighborhood. While the home's size and lot are below the larger neighborhood averages, its assessed value of $308k is significantly below the neighborhood average of $398k. This creates an accessible entry point into the area. For a buyer, this means you're purchasing the location and community benefits of Waverley Heights—often top-rated for amenities and schools—without the premium price tag typically attached to its larger properties.

It would ideally suit first-time buyers, downsizers, or value-focused investors seeking a foothold in a strong neighborhood. The buyer should be comfortable with a home that is average or slightly smaller in scale compared to the immediate area but offers financial efficiency and a modern build date relative to its street.

Frequently Asked Questions

1. Is this a small home?
It depends on the context. On its own street, Lake Village Road, its 900 sqft living area is completely typical (ranked #75 out of 142). However, within the wider Waverley Heights neighborhood, which has many larger homes, it is below the area average.

2. Why is the assessed value lower than the neighborhood average?
The assessed value of $308k aligns with the home's physical proportions (living area and lot size), which are more modest than the neighborhood's larger average. This reflects a valuation based on the property itself rather than the premium often commanded by the neighborhood's biggest homes.

3. What does the 1977 build year ranking mean?
Ranking in the top 12% for year built on Lake Village Road means this home is newer than most of its direct neighbors. This can be an advantage, potentially indicating updated systems or construction methods compared to older homes on the street.

4. How does the lot size impact potential?
At 3,719 sqft, the lot is manageable and typical for the street. It provides adequate private outdoor space but may have limitations for major expansions or additions compared to the much larger lots found elsewhere in Waverley Heights.

5. Is this a good value investment?
The data suggests a balanced proposition. You are acquiring a home that is modern for its street at a price point below the neighborhood norm. This can offer stability and access to the community, with the trade-off being less square footage and land than some area comparables.