Property Overview: 71 Waterfront Road, Island Lakes
Key Characteristics & Appeal
This 1986 four-level split home at 71 Waterfront Road is a solid, well-positioned property in the Island Lakes neighbourhood. Its primary appeal lies in its generous lot size—over 10,000 sqft, which places it in the top 17% on its street and top 8% in the neighbourhood. This offers significant outdoor space and potential, a notable advantage over many newer builds. The home itself, at 1,743 sqft of living area, is comfortably above the city-wide average and features an attached garage and a renovated basement.
The property’s assessed value ranks consistently above average across street, neighbourhood, and city comparisons, suggesting it is viewed as a substantial asset. While the home’s age is around average for the street, it is older than many in Island Lakes, indicating a character home in a mature, established setting rather than a newer subdivision. This home would suit buyers looking for a spacious lot in a popular neighbourhood, who may value the room to grow, garden, or expand over having a brand-new build. It’s also a strong candidate for someone who appreciates a home with a proven value history and the potential to add value through updates over time.
Frequently Asked Questions
1. How does the lot size compare to typical properties?
The lot is a standout feature at 10,021 sqft. It is significantly larger than the average lot in Island Lakes (approx. 7,418 sqft) and the city-wide average, offering exceptional outdoor space.
2. Is the home’s age a concern?
Built in 1986, the home is older than the neighbourhood average but is around the median age for its specific street. This suggests well-established surroundings and mature landscaping, but prospective buyers should factor in the potential for age-related maintenance or updates.
3. How has the property’s value changed over time?
Based on available data, the sold price increased from a range of $39.5k-$42.5k in 2016 to $48.5k-$51.5k in 2021. Its current assessed value of $50.40k continues this trend of above-average valuation.
4. What does the “four-level split” layout mean for daily living?
This style typically features multiple short flights of stairs, creating distinct living zones across four half-levels. It can offer good separation of space (e.g., bedrooms away from living areas) but may be less suitable for those seeking single-level living.
5. How does this home rank within its immediate area?
The home ranks above average for lot size and assessed value on its street. Its living space is around the street average, making it a competitively sized home on a larger-than-usual parcel of land in the Island Lakes community.