For Sale

[George K]

A bit of a fixer-upper...

Must've been kind of a cool house back in the day.

[Jolly]

Redone properly (assuming no major structural damage) what's it worth?

[George K]

Next door. A bit bigger.

[Copper]

This is what will happen when Social Security goes bankrupt.

[Jolly]

Roof doesn't look bad. You've got one room with a significant leak, or maybe just a ho-hum leak and a lot of neglect...Really have to take a look at that section of the roof, the rafters and the joists. Kitchen cabinets are still sound (hopefully) and I'd just shoot those. Need new countertops and appliances. Gonna have to resand and refinish most of the hardwood floors. The room with the leak has a parquet floor...That's probably going to have to come up or maybe sand it flat and lay a clic-lok over it.

If the furniture comes with it, it's house and period correct and with some TLC, salvageable for several pieces. Wonder how bad the grand is?

Also wonder about heating and cooling. And we didn't see the bathrooms.

Other than that, a lot of wallpaper removal, probably some mud work and a lot of painting and trim work.

I'd offer $200K, if the bones are good.

[George K]

There is an offer pending for $298K.

No pics of bathrooms.

[Jolly]

Bathrooms can be expensive. One might could drop $50-$100k in that house with a bunch of sweat, and barely get your money out of it, I'm thinking...

[George K]

Notable that there were no pictures of the baths in the listing.

I wonder if the buyer is planning a teardown.

[jon-nyc]

Where is it?

[George K]

@jon-nyc said in For Sale:

Where is it?

Southern part of my town.

[Renauda]

@George-K

Any idea of the value of the lot without the buildings?

[George K]

@Renauda said in For Sale:

@George-K

Any idea of the value of the lot without the buildings?

No clue. Vacant lots in this area don't become available frequently. I wonder what the ROI would be on a teardown and new construction.

[Aqua Letifer]

I'd buy it and turn it into suburban Bag-End.

I mean no I wouldn't but if I won the ol' lotto, that's absolutely the first thing I'd do. We both talked about it many times. Win lotto, start a long-term renovation to turn an existing eyesore into a modern hobbit hole.

[Friday]

The front of the house does have a storybook feel to it. I love the lamppost by the front door. I imagine Mr Tumnus living there.

[Renauda]

@George-K

Infills are very common here in older neighbourhoods and communities. Depending on the area it is often more economical to tear down and rebuild from scratch than renovate an old home. If the area is desirable and lot values in the area are steadily increasing, infilling a residential property that had an old house is they way to go in the long run. Urban areas that are high demand for infills have strong property value retention and neighbourhood renewal.

[Tom-K]

@Aqua-Letifer said in For Sale:

I'd buy it and turn it into suburban Bag-End.

I mean no I wouldn't but if I won the ol' lotto, that's absolutely the first thing I'd do. We both talked about it many times. Win lotto, start a long-term renovation to turn an existing eyesore into a modern hobbit hole.

You're right, it's got the Bag-End look which is really cute. The door, the overhang of the door, the roof window all cute but that is going to take a lot of work. I'd gut it and re-sheetrock and go from there the floors could be ok but thats about it. But it gets an "A" from me for cute. But now it's a 400k+ house, is that supportable?

[George K]

@Tom-K said in For Sale:

But now it's a 400k+ house, is that supportable?

In this neighborhood, yes, easily.

[Tom-K]

Then George, I think you have a project!

[Jolly]

George is a heckuva woodworker. That means he'll be a great cabinet guy.

Just think of all the new wrinkles he'll have on his horn!

[George K]

@Tom-K said in For Sale:

Then George

Homes across the street run anywhere from $450 to $600. Granted, size might be different, but you get the gist.

In my town there are no two homes that are the same.

Across the street:

Similar, perhaps, but never the same.

This house.