January 7, 2010

This is not a mobile home in San Carlos

$509,900

1651

Beds: 2
Baths: 1
Sq. Ft.: 920
$/Sq. Ft.: $554
Lot Size: 4,480 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1947
Community: El Sereno Corte
County: San Mateo
MLS#: 80955030
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 31 days
CONTRACTOR / INVESTOR SPECIAL!! IDEAL SAN CARLOS LOCATION. QUIET NEIGHBORHOOD, CLOSE TO SCHOOLS.

Great news everyone! Apparently there’s now a quiet neighborhood along Alameda in San Carlos! And even better, there’s a house available on it! This house!

This house is an absolute steal. It sold in October 2006 for $655,000 so you’re looking at $145,100 in instant equity. Cha ching!

Sure it may need some work, but hey, you’re an investor right? You’re investing in your future with this house.

That said, I’m not sure what’s going on in this picture:

image

Is there such thing as a Murphy Dining table?

Finally, if things get tough – maybe you can just add some wheels to the house and roll it away!

Comments (9) -- Posted by: burbed @ 5:30 am

9 Responses to “This is not a mobile home in San Carlos”

  1. nomadic Says:

    Propertyshark doesn’t have details, but it appears the hapless former owner of this house actually put 20% down. Ouch.

  2. BuyersAreIdiots Says:

    In keeping with my new tradition, here is the equivalent Austin house:

    http://www.realtor.com/realestateandhomes-detail/2004-Val-Verde_Austin_TX_78732_1114394856
    :-D

  3. meep Says:

    the top 20% sf and average household income-
    and how much you need to live well (and really well) depending on family size

    sf sj
    $257,399 average income $267,380
    $202,000 couple without kids $210,535
    $405,339 family of four $421,071

    top 4%
    sf sj
    $456,008 average income $450,231
    $359,061 couple without kids $354,513
    $718,123 family of four $709,025

    http://articles.moneycentral.msn.com/SavingandDebt/LearnToBudget/how-to-know-if-youre-rich-in-your-city.aspx

  4. Stepford Says:

    This house was under construction (as you can see to the right of the pix), but was never finished so it looks like half a house. It has been this way a long time. I think it would be a good deal for about 450k. You would have to at least double the square footage and completely renovate the rest which would probably cost about 350-400k ish. (Probably less now that contractors are desperate.) At that point you would have put about 800-850k into it which would be a very fair price for that neighborhood and you would be getting essentially a new house designed to your taste. You would just have to be willing to take on the construction headache.

  5. SmilingCat Says:

    I’ll give it that, it’s every bit as immobile as the piece of shit I live in!

  6. Jasont Says:

    It’s the Una Bomber special

  7. kareninca Says:

    Stepford – my preferred alternative would be to get it at 450K (350K?)(250K?) and live in it as is and drive the 850K folks buggy.

  8. kareninca Says:

    it’s now down to $501,500!

  9. nomadic Says:

    oooh! A 1.6% drop in price!


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