Property Overview

This home at 86 Lake Grove Bay in Waverley Heights presents a compelling opportunity for buyers seeking above-average space and value in a well-established neighborhood. Its key appeal lies in its strong performance across multiple metrics compared to its immediate surroundings and the wider city.

Key Characteristics & Appeal

The 1,620 sqft living area is notably spacious, ranking in the top 20% on its own street and the top 13% within the Waverley Heights neighborhood. This suggests a home that offers more room than most in the area, which is ideal for growing families, those who work from home, or anyone who values ample living space. The assessed value of $497k is a significant standout, ranking in the top 11% on the street and top 7% in the neighborhood. This indicates strong perceived value for the property, which can be reassuring for investment-minded buyers.

Built in 1981, the home is newer than most comparable properties on its street (ranking #1 out of 56) and in the neighborhood. This is a less obvious but practical advantage, potentially pointing to updates in building standards, materials, and systems that may reduce immediate renovation needs. The lot size of 6,997 sqft is above average for both the city and neighborhood, offering good outdoor space while remaining manageable.

This property would best suit buyers who prioritize space, modern construction (for its area), and a strong value proposition within a mature community. It’s for those who appreciate concrete data showing the home outperforms its peers, offering a blend of roominess, a newer build date, and a solid assessment foundation.

Frequently Asked Questions

1. What does the "Elite" ranking for year built actually mean?
It means this home, built in 1981, is the newest among the 56 comparable properties analyzed on Lake Grove Bay. This suggests it may have features or construction methods from a slightly more modern era than its direct neighbors.

2. The assessed value is high for the street. Does that mean my property taxes will be disproportionately high?
Not necessarily. Property taxes are calculated using a city-wide mill rate applied to the assessed value. While a higher assessment is a factor, it primarily reflects the city’s valuation of your property relative to others. It confirms the home is considered a top-tier property on the street.

3. The living area is above average, but the lot size is "around average" for the street. What does this indicate?
This typically indicates a efficient use of the property, with a larger proportion of the lot dedicated to the home's footprint rather than yard space. It appeals to those who prioritize interior living space over extensive landscaping.

4. How reliable are these neighborhood and street rankings?
They are based on publicly available municipal assessment data for comparable home types, providing a factual, data-driven snapshot of how this property measures up. They are excellent for comparison but should be one part of a broader evaluation including a physical inspection.

5. The home ranks higher in its neighborhood than city-wide. What's the takeaway?
This reinforces that the home is not just a good property in general, but a particularly strong one within the desirable Waverley Heights area. You are acquiring a home that stands out in an already above-average neighborhood.