This is not a mobile home in San Carlos
$509,900
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 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:
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!
January 7th, 2010 at 8:38 am
Propertyshark doesn’t have details, but it appears the hapless former owner of this house actually put 20% down. Ouch.
January 7th, 2010 at 11:09 am
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
January 7th, 2010 at 11:34 am
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
January 7th, 2010 at 12:26 pm
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.
January 7th, 2010 at 1:46 pm
I’ll give it that, it’s every bit as immobile as the piece of shit I live in!
January 7th, 2010 at 4:39 pm
It’s the Una Bomber special
January 12th, 2010 at 5:03 pm
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.
January 12th, 2010 at 5:05 pm
it’s now down to $501,500!
January 12th, 2010 at 5:34 pm
oooh! A 1.6% drop in price!