Swamplot Price Adjuster: Priced in the Heights

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Location: 301 E. 10th St., Houston Heights
Details: 2 bedrooms, 2 baths; 1800 sq. ft. on an 8,200-sq.-ft. lot
Price: $600,000
History: On the market for 6 weeks.

A reader thinks this property is overpriced:

. . . even if it is lot price at 8,200 sq ft – listed for $600K it’s about double the price – I’ve seen 10,000 sq ft lots go for $325,000 (May 09). For a lot in the Heights it’s too high – yes it’s a corner lot – but there are no curbs on the street and it’s right near a church. To keep the house for a “conversion” as suggested would be too high as the house doesn’t even have central air or heat.

What would be a better price?


Sez our reader:

Asking $600,000 for this is a joke and I think it should be at the most $350,000.

What do you think?

16 Comment

  • I would knock at least $200k off this price because you’ll need to spend that much just to update the place.

  • Seems a little high, but I think that house has huge potential.

  • I think the sellers are insane or naive and the realtor is totally out of touch or afraid to be honest. There are several comps going for under 225 within blocks of this. The house does have great rehab potential, but anything over 275 is inconceivable to me. I have walked past this place hundreds of times (no joke)and there is simply nothing special about the location, the lot or the structure.

  • Whoa – brain just caught up with fingers. If there are no deed restrictions on that block to prevent 4 townhomes from going in, then 500 isn’t insane. And yes, deed restrictions are lot by lot and block by block in the Heights.

  • if this was montrose, lot value would be $400k+, but that’s all this is–lot value. I don’t know the lot value for the Heights, but when I bought 5 years ago, the Heights was generally cheaper than Montrose. That said, this looks like a prime location near 10th and Heights.

  • Lack of HVAC is not nearly the big deal people think. I looked at a (smaller than this) house that had no HVAC and was really surprised by how straightforward it is to put it in – and that it’s less money than you might think.

    This house may have some specific complications, but of all the things you’d have to deal with renovating it, that sounds like one of th easier ones.

  • Lack of central air isn’t a huge issue. Old houses have tons of attic space for machinery and ducts. When I was house-hunting 8 years ago, I was told about $3000 to add C.A. to a typical bungalow.

    Plus, 1800 SF is big for a 2-2 and it looks like it’s good condition. I’d say $350,000–about half lot value and half house.

  • Methinks an empty lot that size and location would go for over $200k.

  • Didn’t we do this house once before?

  • Love the hallway, but it must take up about half the square footage of the house. I’m sure they’re hoping for an offer from a townhouse builder, as was mentioned.

  • Not officially, M Matt. I posted it to another topic about a month ago.

  • Not officially, M Matt. I posted it to another topic about a month ago.

    Thank you. I thought maybe I had lost my mind.

  • Don’t worry Matt Mystery. You have lost your mind. Must be all that rancid meat from your bargain bin Krogering.

  • 299,999.99
    asking – because the counter offer will be lower

  • The neighbors should try to get a prevailing lot size petition going, if they haven’t already, to stop a bunch of townhomes going up on that lot. A prevailing lot size petition is different from deed restrictions and much faster to get approved. They have the info on the Heights Assoc web site.

  • I drive by here every day and noticed this morning that the For Sale sign is gone and I don’t see the listing on HAR anymore – anyone know what happened?