Property Overview: 19 Lake Green Place
Key Characteristics & Appeal
This well-situated home at 19 Lake Green Place in Waverley Heights presents a compelling opportunity. Built in 1978, the 1,664 sqft residence sits on a notably generous 9,475 sqft lot, which is significantly larger than most in the neighborhood and city. Its assessed value of $490k positions it above average at every level—street, neighborhood, and citywide—suggesting a property that holds its worth in a desirable context.
The appeal lies in its established, above-average standing. It’s not just a single-family home; it’s a property that consistently ranks in the top tiers of its immediate surroundings for key metrics like lot size, living area, and value. This indicates a sought-after location on Lake Green Place itself. It would suit buyers looking for a solid, spacious property in a mature neighborhood, who appreciate the value of a large yard and the stability of an area where homes maintain strong assessed values. It’s particularly suited for those who prioritize space and established community character over a brand-new build.
Frequently Asked Questions
1. What does the "Above Average" ranking actually mean for a buyer?
It means the property outperforms most comparable homes in its direct area on specific metrics. For example, ranking in the top 6% of the neighborhood for lot size is a tangible, quantifiable advantage that contributes to privacy and potential outdoor use.
2. The home was built in 1978. Should I be concerned about major updates?
The year-built ranking shows it is typical for this specific street and neighborhood, which are comprised largely of homes from that era. This can be an advantage, as renovation styles and infrastructure (like wiring and plumbing) are likely consistent. However, a thorough inspection is always recommended to understand the condition of major systems and the roof.
3. The assessed value is higher than the street and neighborhood averages. Does that mean it's overpriced?
Not necessarily. A higher assessed value often reflects the property's specific advantages, like its larger lot and living area. It indicates the municipal assessment sees inherent value here. The market sale price is determined by current conditions, but a strong assessed value is generally a positive foundation.
4. How does the lot size compare in practical terms?
At 9,475 sqft, the lot is over 50% larger than the neighborhood average (~5,968 sqft). This translates to substantially more private outdoor space for gardening, recreation, or future additions like a deck or shed, which is a rare find in city neighborhoods.
5. The rankings show it's a top-tier property on its street. What's the potential downside of that?
Being among the best on the street is positive for value. However, it also means there may be less immediate "upside" from neighborhood improvement alone, compared to a lesser-ranked home on the same street. Your investment is in the specific property and its condition, as the location is already proven.