Awesome …. a home and an ice house.
Even it is West U., the seller is delusional. I don’t know what the price of a tear-down should be West U., but doubt if it’s 489k, especially with such a small lot.
I agree the price is ridiculously high, esp. when compared to the per-month rental equivalent listed in the ad. But what makes you think this is a tear-down? Just because it’s small?
Teardown or keeper, this home is priced much too high. Small house, small lot, two bedrooms, one bath, no storage, no kitchen photos….$489K REALLY? Although I’m not a fan of living in the ‘burbs (been there, done that), I could buy a friggin’ mansion in the land of the bland, complete with a pool, hot tub and artificial waterfall, for that kind of money. The home doesn’t even have that much character. Good luck with that.
Finding anything under 500k in west u is hard with all of the smaller houses being torn down. Not alot of direct comparables. Seller may get alot closer to asking than you might expect, especially from an aspiring young professional couple.
This house doesn’t seem big enough for a family with school-aged kids, and if you’re not worried about the school system, you can buy a house/lot similar to this in numerous neartown neighborhoods (such as the Heights) for about half the current asking price, maybe a little more.
This shouldn’t come as a surprise. Some areas are just crazy expensive for what you get.
A quick search on HAR in 77006 for active listings shows that with just 1 or 2 exceptions, everything with a lot that big goes fro $500k+. The cheapest being $400k and it just about says “KNOCK ME DOWN” in the description.
Not a delusional seller, just priced with a little haggle room. West U. lot value. Nothing to see here.
I’d price it at 400-450. It’s not a cheap neighborhood, even for a small house.
I live in the neighborhood. 50X100 lots are going for close to $500k. This is for a tear down. This area turns quickly, so market values are pretty easy to establish.
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