53 Lakeland Place

Property Summary: 53 Lakeland Place, Waverley Heights

Section 1: Key Characteristics & Appeal

This home at 53 Lakeland Place presents a compelling proposition centered on generous space and established value within the desirable Waverley Heights neighborhood. Its primary appeal lies in its significant scale, offering nearly 2,000 sqft of living area—a size that ranks well above average for both the neighborhood and the city. This is complemented by a substantial, private lot of over 9,600 sqft, providing ample outdoor space that is a notable rarity citywide.

The property’s strength is most pronounced at the neighborhood level. It sits firmly within the elite tier for both living space and assessed value in Waverley Heights, indicating a home that outperforms most local peers in terms of size and perceived market worth. While the 1974 build date is typical for the street, it is actually older than most in the immediate area, suggesting a classic, well-established character rather than a modern build. This combination suits buyers looking for a spacious, traditional family home in a prime area, who may value the potential to update an older structure to their own taste. It’s ideal for those prioritizing interior and exterior space over a newer construction date, and who understand that its "above-average" valuation on the street reflects its larger physical footprint and desirable lot.

Section 2: Frequently Asked Questions

1. How does this home truly compare to others in the area?
The data shows this property excels specifically within Waverley Heights. It ranks in the top 4% for living area and top 3% for assessed value among over 1,600 neighborhood peers, confirming its status as a larger, higher-value home in this specific community.

2. The home was built in 1974. Is that a concern?
The year built is average for its own street but is actually older than most homes in the wider Waverley Heights neighborhood. This isn’t inherently a concern, but it suggests buyers should pay particular attention to the condition of major systems (roof, windows, HVAC) and interior updates, as some nearby homes may be newer.

3. What does the "elite" neighborhood ranking for value mean?
An "elite" ranking for assessed value (top 3% in the area) means the city’s assessment places this home’s value significantly above the neighborhood average. This often reflects its larger size and lot, but it’s also a key factor in determining property taxes, which will likely be higher than on a more average-sized lot in the same area.

4. Is the lot size a major feature?
Yes. At 9,607 sqft, the lot is substantially larger than the neighborhood and city averages. This provides exceptional outdoor space for gardening, recreation, or potential additions like a deck or shed, offering a level of privacy and room that is increasingly hard to find.

5. The street ranking for value is lower than the neighborhood ranking. Why?
This is an insightful detail. While the home is elite in the broader neighborhood, it ranks 4th out of 14 on its own street for value. This indicates Lakeland Place is a street of consistently high-value, larger homes. You’re buying into a premium micro-area where this property, while excellent, is in strong company.