Property Overview: 83 West Lake Crescent, Waverley Heights
Key Characteristics & Appeal
This 1,156 sqft bungalow, built in 1978, presents a compelling case for value-focused buyers. Its primary appeal lies in its efficient use of space and its position on a desirable street. While the home’s living area is modest compared to the wider city, it ranks in the elite top 4% on its own street, suggesting West Lake Crescent is a lane of more intimate, well-maintained properties. The assessed value of $309k is notably below the neighborhood average, indicating a potentially lower property tax burden and an attractive entry point into the Waverley Heights area.
The lot size is compact at 2,742 sqft, which translates to less yard maintenance—a significant perk for downsizers, first-time buyers, or those seeking a lock-and-leave lifestyle. This home would suit practical buyers who prioritize location and value over sheer size. It’s ideal for someone looking for a manageable property in a mature neighborhood, where the investment is in the street’s character rather than an expansive yard. A less obvious perspective is that a home outperforming its immediate street peers in living area, while being valued below area averages, can represent a "smart spot" in the market—offering relative space without the premium price tag of the broader neighborhood.
Frequently Asked Questions
1. Is the living area sufficient for a family?
The living area is efficient. At 1,156 sqft, it is above average for the street but below the neighborhood and city averages. It would comfortably suit a small family, couple, or individual.
2. Why is the assessed value below the neighborhood average?
This can be due to several factors, including the home’s more compact lot size and its efficient, rather than expansive, living area. A below-average assessment often correlates with a relatively lower property tax bill.
3. What does the lot size mean for me?
The 2,742 sqft lot is smaller than most in the area. This means less time and money spent on landscaping and yard upkeep, which is a benefit for those not wanting extensive outdoor maintenance.
4. How does the 1978 build year affect the home?
Built in 1978, the home is from an era with modern foundations but will likely have original or updated components (like roof, windows, HVAC). Its age is typical for the street and slightly newer than the city average.
5. What is the biggest advantage of this property?
Its standout advantage is location on a street where it offers more living space than most direct neighbors, combined with an assessed value that sits below the pricier Waverley Heights average. This creates a value proposition for entering a well-regarded neighborhood.