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4858 N. Lakeview, Garden City

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When it comes to buying real estate, a common investment strategy is to buy one of the least expensive homes in a highly desirable neighborhood. The formula applies to this 17-year-old patio home, which is set on a quiet cul-de-sac in the heart of Riverside Village.

Priced at less than $200,000, this property is surrounded by the lush, meticulously maintained landscaping and tranquil community ponds that define the upscale Garden City neighborhood. Although it lacks the water views that many of its pricier neighbors have, this house provides privacy aplenty on an easy-to-maintain .09-acre lot.

The dwelling is laid out in a simple split-bedroom floor plan with the master suite at one end of the home, a great room placed in the center, and two bedrooms arranged on the opposite end. A sliding glass door in the great room opens to a covered patio and a compact, verdant back yard that contains an ivy-covered wall, a white-flowered Canadian cherry tree and a crabapple tree bursting with pink blossoms.

Pickled oak flooring forms the entry hallway. The same white-washed oak is used as cabinetry in the kitchen and both bathrooms.

The kitchen is outfitted with a narrow snack bar, black appliances and beige tile flooring. A two-car garage with a built-in handyman's bench is accessible from the kitchen.

Pros: Riverside Village residence priced below $200,000.

Cons: No water views.

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