Monday, February 23, 2009

$61 per sq ft near Alberta? - 5137 NE 14th Pl.

According to Trulia, this little gem (RMLS # 9014589) is selling for $61 per sq ft in a zip code that averages $215 per sq ft.

Of course that's misleading, because if you calculate the price / sq ft for the finished space (1500 sq ft) you get $98 per sq ft.

Still, it's 50% below recent market activity. There are no photos to judge the condition, which is never a good sign although in the Google Map view you can see the flatbed with an old pickup on it, and even though I'm a car nut that still makes me wonder what's going on there.

The $64 question is how much will it take to bring it up to average condition, and what will it be worth when it's done?

Anybody seen the inside?

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Anonymous said...

That house was on the market for $229,000 (ml#9002980)l until January 9th. Freddie Mac has the title now. The previous owner paid $79K for it in 1995, she must have used it as an ATM.

I've never seen it but the photos of the inside don't really look too bad. Still has some nice woodwork and built-ins and a double garage. It was listed as a "fixer" though.

Taxes are only $1000 per year on a house with an assessed market value of $305K, you gotta love the gentrified areas for measure 50 taxes.

Anonymous said...

Wow. Previous owner took all the "equity" out, but evidently put none of it into the house. Pathetic, but typical.

Anonymous said...

I saw it with a friend who like that area about a week ago - it was pretty sad inside. Smelled like cats, and pretty filthy & cluttered. Some scary stuff going on with the enclosed back porch, bath, etc. My guess is the owner had health issues and used the house to pay for them... didn't really feel like something to make jokes about, once you'd actually seen it up close.