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54 Leonard St
Lake Oswego, OR

54 Leonard St

$2,250,000
4 bd • 5 ba • 3,390 sf

This analysis was generated by artificial intelligence on 1/27/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$2,250,000

Price/Sq.Ft

$664

Year Built

2024

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Prime Location: The property is located in the heart of Old Town Lake Oswego, providing easy access to boutique shops, renowned restaurants, and scenic parks, all within walking distance. • New Construction: Built in 2024, the property offers modern amenities, high-end finishes, and energy efficiency, ensuring low maintenance for new owners. • High-End Finishes: The property boasts high ceilings, quartz countertops, a soaking tub, built-in features, and a chef's kitchen with a large island, appealing to luxury buyers. • Thoughtful Layout: The home features a great room with a fireplace, a dedicated dining room, a private office, a luxurious primary suite with lake views, and a versatile bonus/daylight studio, catering to a variety of needs. • Top-Rated Schools: The property is served by highly-rated schools: Hallinan Elementary (7/10), Lakeridge Middle (8/10), and Lakeridge High (9/10), making it attractive to families. • Step-Free Main Floor: The main floor is accessible without steps from the attached 2-car garage, providing convenience and accessibility. • Lake Views: The primary suite offers breathtaking views of Lake Oswego, adding significant value.

The Bad

• High Price per Square Foot: At $663.72/sqft, this property is significantly more expensive than the average for the Portland metro area, and even higher than the average for Lake Oswego. This may deter some buyers. • High Overall Price: The $2,250,000 price tag places this property in the luxury market, limiting its appeal to a smaller pool of buyers. • Property Taxes: High property values in Lake Oswego lead to higher property taxes, which can be a significant monthly expense. • Limited Yard Space: While the property has a yard, it may not be as large as some buyers prefer, especially in a suburban setting. • Potential Lake Oswego Corporation Fees: Buyers need to be aware of these additional fees, which can be substantial.

The Ugly

• High Monthly Carrying Costs: The high purchase price, coupled with high property taxes and potential Lake Oswego Corporation fees, results in substantial monthly carrying costs, which could strain budgets. • Competition: The desirable location and features of this property will likely attract multiple offers, potentially leading to a bidding war and driving up the final purchase price. • Limited Lot Size: While the property does have a yard, it may not be as large as some buyers prefer, which can be a drawback for those seeking more outdoor space. • Reliance on HOA: Depending on the property's specific location within the Old Town area, there might be a reliance on an HOA for certain landscaping and exterior maintenance, which could come with associated fees and regulations. • Market Volatility: The real estate market can fluctuate, and a downturn could potentially impact the property's future value.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• High-Income Buyers seeking a luxury, move-in-ready home in a prime location. The property's high-end finishes, modern design, and Old Town location cater to buyers prioritizing quality and convenience. • Families with school-aged children who value the highly-rated Lake Oswego School District. The proximity to Hallinan Elementary (7/10), Lakeridge Middle (8/10), and Lakeridge High (9/10) is a major draw. • Professionals and Executives desiring a low-maintenance, well-appointed home with easy access to Lake Oswego's amenities. The attached garage, step-free main floor, and proximity to shops and restaurants align with a busy lifestyle. • Buyers who prioritize a new construction home with modern features and energy efficiency. The 2024 build ensures minimal maintenance and updated systems. • Buyers who value indoor and outdoor living, with a great room, a bonus/daylight studio, and a yard.

Not For

• Budget-Conscious Buyers looking for entry-level or mid-range homes. The high purchase price and property taxes may be prohibitive. • Buyers who prefer larger lots or more expansive yards. This property is in a more urban setting with a typical-sized yard for the area. • Buyers who require main-level living due to mobility issues as the primary suite is on the top floor. Although the main floor has no steps, the master suite is upstairs. • Buyers who prefer a very quiet, secluded setting. The property is located in Old Town, which is a vibrant and walkable neighborhood. • Buyers seeking a property with a long history or particular architectural style. This is a brand-new, modern home.
Demographics
Area Median Income

$135,538

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Risk Assessment

Risk Analysis

• High Property Taxes: Lake Oswego has high property taxes due to its high property values. This will significantly increase the monthly cost of ownership. • Lake Oswego Corporation Fees: Many properties in Lake Oswego are within the boundaries of the Lake Oswego Corporation, which charges annual fees for amenities. These fees can be substantial and should be factored into the budget. • Limited Inventory and High Competition: The Lake Oswego market is competitive, with limited inventory, which can lead to a longer search and potentially bidding wars. • Potential Commute Times: While close to Portland, commute times can vary, and traffic can be an issue. This should be considered for buyers who work in Portland. • New Construction Risks: While new construction offers many benefits, there could be minor issues that arise after the move-in. These will most likely be covered under warranty, but can still cause headaches.

Financials

Monthly Costs
Market Rent (4 bed)

$3,910

Get a detailed rental estimate on Zillow®

Price History

Property Taxes

$4,778
2024 Tax Assessment
16.4%from previous year
Assessed Value$248,695
Tax Rate1.92%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$1,825,455

-18.9% below list price

Median Price

$2,075,000

Based on 6 recent sales

Price per Sq.Ft

$562

Comparable Properties

1525 MAPLE ST, Lake Oswego, OR 97034
Price: $1,500,000
Sq.Ft: 2,796
Beds/Baths: 3/4
$/Sq.Ft:
$53619.2%
Sale Date: 12/12/2024
553 6TH ST, Lake Oswego, OR 97034
Price: $2,318,000
Sq.Ft: 3,605
Beds/Baths: 4/4
$/Sq.Ft:
$6433.1%
Sale Date: 11/1/2024
310 CHANDLER PL, Lake Oswego, OR 97034
Price: $2,370,000
Sq.Ft: 3,909
Beds/Baths: 4/4
$/Sq.Ft:
$6068.7%
Sale Date: 9/3/2024
1795 OAK ST, Lake Oswego, OR 97034
Price: $864,731
Sq.Ft: 3,632
Beds/Baths: 4/4
$/Sq.Ft:
$23864.1%
Sale Date: 8/2/2024
768 7TH ST, Lake Oswego, OR 97034
Price: $1,825,000
Sq.Ft: 2,921
Beds/Baths: 3/4
$/Sq.Ft:
$6255.9%
Sale Date: 8/19/2024
535 MIDDLECREST RD, Lake Oswego, OR 97034
Price: $2,075,000
Sq.Ft: 2,872
Beds/Baths: 3/4
$/Sq.Ft:
$7228.9%
Sale Date: 8/6/2024

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