This week we’re going down South across the Henley Street bridge to revisit a lovely little neighborhood with a whole lot of charm: Lake Forest.

Lake Forest is a pretty well-kept secret as far as established Knoxville neighborhoods go and chances are you’ve driven right by it on your way down Chapman Highway and didn’t even know it. Located just northeast of Chapman Highway, the neighborhood is bounded by May Apple to the north, Red Bud Road the the west, and Lindy Road to the east. In other words, if you’ve passed Kay’s Ice Cream, you’ve gone too far.

Much of Lake Forest is included in the Chapman Highway Dogwood Trail (see map below). Add reasonable home prices, convenience to downtown and campus, and picture perfect views to that selling point, and you see why Lake Forest a very desirable place to call home.

The majority of homes in the neighborhood were built in the 1940s and 1950s and there is a nice mix of 40s style cottages and 50s style ranchers. Many homes also have nice, charming features like original hardwood floors and arched doorways. There’s also the occasional split foyer or other 70s area style home found in the area.

Right across Chapman Highway is the the .8 mile Gary Underwood Greenway as well as the Gary Underwood Park, which has a football field and soccer field in addition to picnic areas and shelters. 

[original map from dogwoodarts.com]

So, if you’re looking for an out of the way, affordable neighborhood with some character that also close to a greenway and a park, look no further than Lake Forest.

Here’s Lake Forest by the numbers -

Lake Forest*

Current On-Market Listings -6
Average Asking Price: $126,933
Median Asking Price: $141,400
Most Expensive: $175,000 (4 BR, 2 BA, 2200 sq ft, built in 1950)
Least Expensive: $45,000 (4 BR, 2.5 BA, 1700+ sq ft “handyman special” built in ‘65)

Middle of the Road: $132,900 (3 BR, 1.5 BA, 1600+ sq ft built in ‘55)

Current Pending Sales -1
Asking Price: $99,900

Details: 3 BR, 1.5 BA, 1400+ sq ft, built in ‘40

Closed Sales – 4th Quarter 2009 – 1
Asking Price – $105,496
Sales Price – $101,649
Median Sales Price – NA
Square Feet – 1080
Days on Market – 66

Closed Sales – 4th Quarter 2008 – 2
Average Asking Price – $88,500
Average Sales Price – $81,500
Median Sales Price – NA
Average Square Feet – 1621
Average Days on Market – 82

*Data taken from KAARMLS on 2/01/10 does not include adjacent subdivisions, condos, PUDS, or multi-family units.

As always, if you want any more information about any of these properties, or if you’d like to check one of them out in person, just give me a shout.

If you would like to receive a full list of properties for sale in this neighborhood, or if you would like to be notified of new listings,send me an email with either “Current Lake Forest Listings” or “New Lake Forest Listings” in the subject line and I’ll take care of the rest. Big bucks, no spammies.
Know of a neighborhood you think is especially NOTW worthy? Don’t keep it to yourself – let me know about it in the comments.