Property Summary: 20 Forest Lake Drive, Waverley Heights
Key Characteristics & Appeal
This 1,349 sqft bungalow, built in 1977 on a 7,384 sqft lot, presents a compelling value proposition rooted in its context. Its primary appeal lies in its position within the highly regarded Waverley Heights neighborhood. While the home itself is of a modest, functional size compared to others on Forest Lake Drive, its assessed value of $561k tells a more significant story. This valuation ranks in the elite top 2% for the neighborhood and above average on its street, suggesting the property is perceived to have substantial underlying value or potential.
The home would suit practical buyers looking for a solid entry into a desirable area. It’s ideal for someone who values a larger-than-average lot for the neighborhood, providing room for gardens, expansion, or outdoor living. This isn’t the largest house on the block, but it represents an opportunity to own a property with a premium assessment in a premium area, appealing to those who see value in land and location and are comfortable with a home that may require personalization or updates.
Frequently Asked Questions
1. Is the house smaller than others on the street?
Yes. With 1,349 sqft of living area, it is below the street average of 1,646 sqft. This indicates it’s a more modestly sized home on a street of generally larger properties.
2. Why is the assessed value so high relative to the home's size?
The assessed value ($561k) ranks significantly higher than both the neighborhood and street averages. This typically reflects a combination of the desirable lot size, the sought-after location in Waverley Heights, and the overall property condition or potential as determined by the assessor.
3. What does the "elite" neighborhood ranking for value mean?
Ranking in the top 2% for assessed value in Waverley Heights means this property is valued among the highest in a large pool of over 1,600 comparable neighborhood homes. It signals strong perceived market value within that specific community.
4. Is the lot size a major feature?
Yes. The lot is above average for both the neighborhood and city-wide, offering more outdoor space than many comparable properties. This is a key asset, especially in a mature neighborhood.
5. How does the year built compare?
Built in 1977, it is slightly newer than the average home on its street and aligns with the neighborhood average. This places it in a period of solid construction, likely before the major building code updates of the late 1970s/early 1980s, but modern enough that major systemic replacements (like roofing, windows) may have already been addressed or will be a consideration.