Property Overview: 81 Lake Grove Bay, Waverley Heights

Key Characteristics & Appeal

This well-maintained home on Lake Grove Bay presents a compelling blend of space, modernity, and value within its established Waverley Heights neighborhood. Its primary appeal lies in its generous and efficient living area. At 1,589 sqft, the home offers significantly more interior space than most in the wider neighborhood and city, ranking in the top 15% locally. This is paired with a notable advantage in its year of construction (1981), making it one of the newest homes on its street and in the top 6% for the area, suggesting potentially fewer major age-related updates.

The property sits on a smaller, manageable lot compared to others on the same street, which translates to less yard maintenance without sacrificing the neighborhood feel. Its assessed value is consistently around the average benchmark at every comparison level, indicating a fair market position without a premium for the location.

This home would ideally suit practical buyers seeking above-average interior space in a move-in-ready package, particularly young families or professionals who value a modern building envelope and prefer spending time on their home’s interior rather than extensive grounds. It’s a smart choice for those who want the established community of Waverley Heights but in a home that feels comparatively contemporary.

Frequently Asked Questions

1. Is the smaller lot size a significant drawback?
While the lot is below the street average, it is consistent with neighborhood and city norms. This often means less time and money spent on landscaping and yard upkeep, which can be a positive for many buyers.

2. Why is the living area considered above average if the assessed value is average?
This highlights the home’s efficient value proposition. You are acquiring more modern, interior square footage for a price that aligns with the area’s typical assessed value, suggesting the space itself is a key asset.

3. What does "Elite" ranking for year built on the street mean?
Built in 1981, this is the newest home among the 56 comparable properties on Lake Grove Bay. This typically implies newer major components (like roofing, windows, HVAC) compared to neighbors, potentially deferring near-term replacement costs.

4. How should we interpret the "around average" assessed value rankings?
The value is consistently mid-range when compared to the street, neighborhood, and city. This indicates stability and suggests the home is not overvalued for its offerings, providing a solid foundation for equity without an inflated entry price.

5. Does ranking in the top 15% for neighborhood living area guarantee a large home?
It confirms the home is spaciously laid out compared to its immediate peers in Waverley Heights. However, it’s wise to view the floor plan to see if the square footage is distributed in a way that suits your lifestyle (e.g., number of bedrooms, open concept).