Waterloo Road was developed from the middle of the nineteenth century as part of the Pembroke Estate. The road formed part of the suburban expansion of Dublin in the nineteenth century, commencing with three-storey over high-basement houses with front gardens, later two-storey over high-basement houses were developed. Waterloo Road is a significant survival of a nineteenth century road, which is largely intact from the date of its construction. It is a Victorian road following the template of the Georgian developers and with a simple and successful layout it sues a variation of single house type. The front facades, the principle architectural features of the houses, show the changes of taste during the period.
Waterloo Lodge, number 23 is an example of Dublin's Victorian architecture dating from circa 1850. Is is a Victorian town house a of simple rectangular plan form and was built as one of a pair. It was designed with a rhythm of tow regular bays that were positioned for visual effect in a brick faced wall with stucco cornice and the added highlight of an arched doorcase with an entablature supported on Tuscan columns with a fanlight over, in a recessed single-bay to the side of the house.
The building is a protected structure and together with the curtilage, its architectural significance derives from its Architectural, Group, Materials and Streetscape qualities and it is considered of Regional Importance.