Swamplot Price Adjuster: Last Resort in Montrose

The Swamplot Price Adjuster needs your nominations! Found a property you think is poorly priced? Send an email to Swamplot, and be sure to include a link to the listing or photos. Tell us about the property, and explain why you think it deserves a price adjustment. Then tell us what you think a better price would be. Unless requested otherwise, all submissions to the Swamplot Price Adjuster will be kept anonymous.

Location: 1206 Hyde Park Blvd., Hyde Park, Montrose
Details: 3-4 bedrooms, 3 1/2 baths; 3,680 sq. ft. on a 10,100-sq.-ft. lot
Price: $1,199,999 [corrected from before]
History: On the market for 7 weeks

All the fine furnishings in this 1920 Montrose mansion didn’t sway the Swamplot reader who nominated the property:

“River Oaks living in Montrose”? Certainly River Oaks pricing in Montrose!

Given the location, the neighborhood, and the house itself the HCAD appraisal of almost $700k seems excessive. . . .

This house was sold in 2004 per HCAD, and the 2005 valuation was $563k – my guess is that is very close to the sale price.

The 2009 valuation of the house is about $700k. All the neighboring houses are about $300k in value. The neighborhood average is well under $200/sq ft (a beautiful house, fully restored . . . on Harold recently sold for about $200/ft on a similar sized lot)

And a better price for this property would be . . . ?


Continues this week’s naysayer:

I would guess that this fellow poured a lot of money into the house and is trying to get it out of the next owners.

I doubt it will sell for over $700k.

What do you think this home is worth?

31 Comment

  • Not to quibble, but the listing shows asking of $1,199.000. Around that for such a huge lot is not out of the question. They probably no longer have deed restricitions in that area.

  • Sorry, make that $1,199,000.

  • My friends and I always called this place the “Jane Austen house”–I used to live down the street in much dumpier digs.

    Looks like a classic case of overbuilding for the neighborhood.

  • In Southhampton this house would go for around $1.3 or $1.4 — if it had a garage. The Montrose location and lack of proper storage for the Beemer probably means this is going for a bit less than $1.0.

  • Jeez that is expensive..

  • Actually it wasn’t overbuilt for its time period. Most of the other houses on that street are circa late 70’s IIRC.

  • Oops. A little missed digit on the price. All fixed now!

  • Capaciousness and music playing constantly comes at a mighty steep price, my friend. If I had won several millions dollars playing the lottery, was drunk, and the owners were willing to leave every single bit of the furnishings, then $1.2 million would seem fair. Otherwise, I’d have a nasty hangover and feeling like I got screwed out of $500K for a nekkid house where I couldn’t leave my Shetland pony or antique lawn ornaments out in the front yard for fear of them being stolen. And that better be a damn sweet cabana/ guest house.

  • I’ve lived in Hyde Park since 2002, and I keep an eye on neighborhood real estate prices. (I will confess that I don’t look at townhome prices much, they all sort of blend for me.) I think that if the grand old tudor next door had been purchased and renovated instead of torn down for the inevitable collection of townhomes, the price probably would have been a little easier to swallow. But there’s nothing around there that compares anymore, and soon, this place will be surrounded by townhomes.

    I suspect that the $975,000 new house on West Drew and Waugh will have problems selling when it’s done. And that $775,000 pseudo-Victorian on West Drew seems like it’s been on the market continuously since they built it in 2003 or so. We just don’t have that many houses in Hyde Park that go for over $550,000.

  • Then again, what will this 10,000+ sq. ft. lot be worth in 15-20 years? Land inside the loop can’t be grown. Someone with a long-term view of the deal could be crazy like a fox.

  • $299K, tops.

  • $299k? Ha. This house isn’t in Suburbia.

    I actually think this price isn’t *too* far off. Our 2300 sq ft house (same lot size, same year built) in Sunset Heights appraised at ~$450k. This house is more than 50% bigger, in a more gentrified neighborhood, and boasts a higher quality of upgrades. Plus this house is more visually stunning.

    Is $1.2M a little high? Sure. But if I wanted to take on a higher mortgage payment, I’d be willing to pay around $1M.

  • I have been inside this home a number of times and can assure you that the photos do not do this home justice. The home was remolded by the current owners with a great attention to detail, seamlessly blending modern conveniences with the traditional grandeur of the home. I agree that the price is a little high, but not too far off. The list price should be right around $1 million. It is sad that the beautiful Tudor Style home next door at 1212 Hyde Park was demolished. Had it been restored, these two homes would have been the jewels of Hyde Park.

  • I agree with the previous comments about the gorgeous tudor next door that was torn down to build a cluster of townhomes. I believe that home was on the market for 600k, don’t know how much it ended up selling for, but it broke my heart to watch it be torn down.

  • $250 per 5000 ft lot.
    $450 for that house on one lot
    $700k sounds about right

  • It has sort of a Courtlandt Place look and feel but unfortunately it’s not ON Courtlandt Place. $750,000 is probably the ballpark unless the buyer just loves the house and ignores the neighborhood. Hyde Park sounds elegant. Elegant it ain’t. On second thought, somewhere between $500,000 and 750,000. As for those proudly proclaming how high their houses have been appraised for, well, apart from obviously having a trust fund so you don’t have to worry about paying taxes on overappraised property, try selling them for the appraised price. I bet you didn’t even try to get the appraisal lowered. Pretentious is as pretentious does.

  • Just for comparison, look what the same price buys just north – Hardiplank, no yard and neighbors so close you can touch their houses

  • Just for comparison, look what the same price buys just north.

    And stupid is as stupid does.

  • The house is beautiful and in 10 years, if population projections are even in the ballpark, this house will be worth $1.5 easy. It’s not worth $1.2 now but I honestly don’t think it’s too far off. In 10 years, with a projected million or more so people living around town, this house will be a jewel like those in a place like Los Feliz in LA. Unfortuntaly, the market of buyers in Houston TODAY is very limited. Most likely a gay couple or a swinging single with money to spare and no fear in their heart.

  • this house will be a jewel like those in a place like Los Feliz in LA

    Somehow it’s hard to think of Hyde Park being compared to Los Feliz. Sort of like comparing Bellaire to Bel-Air. Just not.

  • Gus — can get follow-up on these Price Adjuster homes? I’d love to see what actually happens. I know we can’t get exact sales prices, but we can get a range, right?

  • @Carol: We’ve had updates on some of these properties added to the comments. But you’re right — it would be nice to hear more formally. So here’s an open invitation to realtors or anyone else who has access to sales information: If you can tip us off on any changes with these properties, we’ll be all ears!

  • 10-15 years ago, you could get a house like this in Los Feliz in the $500s. Now, one like this would be in the $2-4 million dollar range depending upon the views. Trust me, in 10-20 years when Houston has an influx of one million more people and we’re still wondering if the U-Line will ever get built, property like this will be worth GOLD. We haven’t even begun to see how high prices will rise for well located properties.

  • ‘stina and KNM:
    > the grand old tudor next door…

    The developers of this property are Montrose residents and I can guarantee you that the new construction will not be a collection of generic townhomes.

    The interior of the old Tudor had been open to the weather and pigeons for years (decades?) and was not salvageable. As it was, Architectural Salvage was able to take any bits they wanted.

    I think all fans of modern architecture will be very pleased with the two new houses.

  • Now, one like this would be in the $2-4 million dollar range depending upon the views
    Maybe the $1-2 million range. They’re still having their half-price sale in Los Angeles. Atlhough things are getting a little better. One of the prime properties on Bel-Air Road which sold for $10.9 million. A little less than half it’s list price of $18.25 million. I guess thats around 40%. So, well, things are looking up. Not. The house, a spectacular “mid-century modern,” is being torn down for a “mega-mega mansion” and basically the property sold for land value.


    Here’s the listing:


    They have schmucks in Los Angeles who prefer Tuscany Trashy to classic mid-century modern just like they do in Houston.

  • No need to go to LA to understand that his house is fairly priced. $326/sq. ft. for a Victorian house in perfect condition is just the right price (go build one for that money, if you can). As far as the house next door they torn down, it was a dump, a rotten shell inhabited by crackheads, which was impossible to salvage without spending a fortune. They are building two high-quality green single family homes, not cookie-cutter town homes. I am in favor of improving the quality, not only the look, of our neighborhood. There are so many poorly-maintained homes that deserve to be torn down in the area. So stop complaining, and you will live a happier and longer life.

  • Interesting that two nearby residents both say that the old Tudor at 1212 Hyde Park was not salvageable. I’m sorry that it became a home for crackheads and that it was neglected for so long, but I have real trouble believing that it was not salvageable. I’ve seen too many historic houses in Galveston that are older than this one and worth less than this one restored and put on display in home tours. I’ve seen burned-out, collapsed, flood-damaged houses which looked far, far worse than 1212 Hyde Park rebuilt in Galveston, many times. I don’t really think the economic conditions, pre-Ike, were all that much better on Galveston. What’s the difference? A city government that is actually committed to preserving historic houses? I’m actually serious about that question.

  • HI JD,

    I’m curious to see where a house as you described was sold in The Montrose, close to Hyde Park for $326/ft?

    I live in a house built in 1915, and while some may quibble, I think it is
    in perfect condition” and from the comps I see every year via HCAD, I see nothing at that level. Even the fully restored houses.

    $200+ is not common, and I don’t think I saw anything over $250. I went back and looked over the past three years, and found nothing.

  • Oh, I’m heartbroken that rambling old house next door was torn down! It was always so intriguing.

  • Dear nay sayers,

    I found this site by accident and saw that it featured a property that i know extremely well so for all of you people bored enough and frustrated enough with what ever kind of vintage or modern houses … with basic features i could understand your frustration … this house now sits on the largest residential lot left north of Westhiemer in MONTROSE a fact that will only increase its value but if you would like to save some money you can go up the street and live in a dilated funeral home on a smaller lot with a car repair shop behind you for 799.00
    i doubt it has 3 bedrooms all with bathrooms attached … by the way for Ms. Beemer there are plans drawn and ready for a two car garage leaving the current port cochere into a raised outdoor dining room with outdoor f.p. screened in with its own audio visual zone and ac vents and a trellised deck out side breakfast room both with french doors to back yard … the plans also change the pitch of the roof allowing for An additional 2 bedrooms each with bath and a walk in closet 20′ by master suite and a 20 x 20 family room doubling the existing kitchen to seat eight at the island and 10 x 6 walk in pantry I m sure most of your living rooms are 18 x 30 … and that you all have an entry foyer w/ F.P. that can hold 40 people for cocktails ,…8 zone audio visual system … not eight speakers … eight independent systems that can operate individual or as one … there are 38 speakers actually covering every sq. ft of the house and grounds … A 20 extension phone system that allows you to talk to every room in all three buildings on the property and open all gets from any room with the push of a button …. so while u r in your kitchen today cooking on your 8 burner range watching your 48 in flat screen … Oh don’t have that either .. If you yourself have not been in this house…. Your observations…. estimations,opinions are rather worthless I know most of you have not been through the for you would have to be prescreened for financing before a showing and there will never be a public open house for the same reason the house has never been on the house tour of Hyde park …. So perhaps you enjoyed the certain shall we say bohemian vibe you might have thought the neighborhood HAD….. wake up and watch while all the slum lords sell out and more expensive structures replace them and don’t get me wrong I’m not saying well built or with any level of style but EXPENSIVE !!!!
    along with all the re-landscaping and the remarkable change to the neighborhood … which has a very strong civic association .. if you live in this neighborhood and your house has a decent size lot and some interesting architecture and maybe been updated with a little taste (though rare)… I’ve been) through some of these properties ,… you should be cheering the owners on … all that will happen to Hyde Park is that your own home even with you doing nothing will increase in value if only for land value … or are some of you not getting the concept that there is no new land be manufactured inside the loop …

    And in closing after the lovely tudor was torn down the sister house to 1206 which was built by a father for his 2 daughters and each had the exact footprint along with interior layout and cabinetry and trim … I went through and extensively photographed it btw it was most definitely restorable .
    So now for a lot exactly half the size of 1206 with no yard and a 10 x 10 swimming pool (1206 has 32′ heated oval swimming pool ) you can pay 1,000.00 and I believe the one without the pool will be offered at 900.000.00 so you all do the math. The house if anything is undervalued and the person who does buy it will have bought something totally unique since the loss of 1212 and that will just continually grow in value .

    I know it must be frustrating to be on a small lot in a 20’s bungalow 2 bedroom 1 bath enter into your living room… no eat in kitchen a small living and dining room and lets not forget the joy it must be to share a single bath and even if there are more then one they are usually outside of the bedroom so with most people living in homes that are more like the sq. footage of the pool house at 1206 …. which has 1 and 1/2 baths a full kitchen …. brazilian slate plank flooring a dressing room and its own audio visual zone … art lighting a marble bath with frame-less glass shower enclosure along with central air a/c …. the 1/2 bath faces the yard and is used as a changing room for the pool it is also finished in marble and has canterleavered shelving that holds twenty oversized pool towels and a dresser for storage of bathing suits and sun products … there is an outdoor shower just outside the 1/2 bath door totally private… … and don’t forget the gardening shed with utility sink and shelving and pegboard to hold all the yard equipment pool supplies and tools

    Almost forget the full wet bar right next to pool with its own zone for music a/c and finished with a marble bar and slat stone that matches the pool decking it is equipped with ac ice machine … wine cooler… refrigerator its own zone of music and as all the other buildings have recessed halogen adjustable lights … it also features a 8 zone landscape lighting system .. So sit back and think about reconstructing this house for under $325.00 a sq.-ft … and if you say it can be done you are obviously not in the construction or any other building related field… for those of you who understand the house … It is priced exactly where it should be if not on the low side … and even if you wanted to try you can’t … not in this area ….
    And for all of you who have not noticed they are not manufacturing any new land in the area which leaves us with a finite number of sq. ft of land and more people wanting to be inside the loop …. well u think about it …. I guess you could go by 2 lots that equal 10,500 sq. ft then tear down what ever is there and build a house out of the same MATERIALS … MECHANICAL SYSTEMS…AUDIO VISUAL SYSTEMS… A POOL …SOLID WROUGHT IORN FENCING …. A SEPARATE GUEST HOUSE ANOTHER SEPARATE STRUCTURE FOR STORAGE AND A WET BAR PLUMBING ELECTRICAL AND AC….BUY ALL THE UPGRADED APPLIANCE’S AND TELL ME WHAT NUMBER YOU COME UP…. !

    sincerely ,

    Get A. Life

    P.S. Why are people so interested in other peoples lives and why does it always seem to be the ones who could not possibly afford or achieve what the are critiquing or voicing there uninformed opinions on…… could it be some form of property envy.


  • Get.A.Life:

    I’m guessing from your long-winded rant that the property in question is still for sale. Accordingly, perhaps my suggested $299K price point isn’t so far off the mark after all.