Is this house on W. Alabama in First Montrose Commons priced . . . too low?
Location: 409 W. Alabama St., First Montrose Commons
Details: 3-4 bedrooms, 4 1/2 baths; 2,558 sq. ft. on a 7,812-sq.-ft. lot
Price: $449,900
History: On the market for a month and a half. Price cut $50K a month ago.
“Why should this house be listed for more?” asks a Swamplot reader:
Because it is really large in square footage (2,558) and lot size (7,812 sf) and in addition to the main house, there is a nice carriage house in back that could be a home office, in-law quarters, rental apartment, or given that it’s Montrose, a nightclub or tattoo parlor (kidding). Although it’s been 10 years since it was updated, I think the updates have held up and stayed fairly current with today’s design trends as evidenced by the kitchen’s under-mount, double stainless sink, cooking island, granite, tile floors and tile backsplash with custom dark wood cabinetry and upgraded appliances included (looks to me). Master bath has tile and granite; one of the secondary baths looks like it could use some serious updating.
Custom paint throughout, looks like big closets, nice hardwood floors (some look better than others), lots of French doors and a bright and sunny interior make this home, in my opinion, the quintessential (non-bungalow) Montrose residence. And then there’s the added bonus of a wrought iron fenced and gated (not cheap) property on a very eclectic street. Who needs TV when you live on W. Alabama? Just sit on the porch and watch the street life. Nice landscaping, too.
What would be a better price?
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Comment of the Day: Inner Loop Rents, Hard and High
“I have to disagree with rents being soft in the inner loop. I just relocated here in January and, unless things have changed, I found rents exceedingly high and availability low. Granted, I did not want a cookie cutter apartment, but I was blown away by the prices. I looked at the new Gables property on Kirby and they were $2,500 minimum a month for a two bedroom. The kicker was that they’d only accept a 18 month lease. I thought that was crazy. The Alexean on Westheimer was a little cheaper at $2,000 per month but it didn’t seem well built. I preferred condo’s or houses to apartment complexes and most of them were in the $2,000 plus range. Those under $2,000 that were nice rented almost immediately after coming on the market. I wound up in a two bedroom house in Montrose for $2,600 and everyone I talk to seems to think I got an ok deal. I have to concur that it seems more expensive to rent than buy. I certainly could have bought for less in this market but, being new to town, didn’t want to dive in to home ownership immediately. Anyone that says Houston is cheap hasn’t looked at inner loop real estate.” [Charlie, commenting on Where Rents Have Dropped]