June 21, 2011

Cheapest house in Santa Clara County


Beds: 2
Baths: 1
Sq. Ft.: 872
$/Sq. Ft.: $172
Lot Size: 10,240 Sq. Ft.
Property Type: Detached Single Family
Style: Ranch
Stories: 1
Year Built: 1948
Community: Alum Rock
County: Santa Clara
MLS#: 81045651
Source: MLSListings
Status: Active

On Redfin: 262 days
2 bedroom, 1 bath, across from school. OPEN HOUSE Sunday 6/5/11 2:00-4:00PM.

This is the cheapest house in Santa Clara county north of Morgan Hill. Wow, just look at the size of that lot! This is huge huge huge!

If this isn’t the perfect investment property, I’m not sure what is. Plus, just look at the instant equity waiting for you to tap:


What’s stopping you from buying this house? I bet most of you could buy this with your credit card!

Comments (13) -- Posted by: burbed @ 5:50 am

13 Responses to “Cheapest house in Santa Clara County”

  1. sfbubblebuyer Says:

    Does it really count as the cheapest house when the listing price is CLEARLY not going to be accepted by the bank? I suspect the relisting at 260k is what the bank was willing to take when they got the first offer in. It might be lower now, but I doubt it’s 150k. I wonder if this house is full of fraud, i.e. the realestate agent is going to be in on a cut by only accepting lowballs from the seller’s family.

  2. SEA Says:

    The so-called overbidding will bring the price right up to where it needs to be, even if the REALTOR doesn’t present those offers to the bank.

    By the way, about two months ago I advised a lender to require a fax number be put in the listing. “All offers must be faxed to” was right in the main body of the listing. Funny how those better offers didn’t get lost.

  3. SEA Says:

    “I wonder if this house is full of fraud, i.e. the realestate agent is going to be in on a cut by only accepting lowballs from the seller’s family.”

    What responsibility does a REALTOR have toward the lender, mortgage holder?

  4. nomadic Says:

    Now pending! For the fourth time since September.

  5. SamAdu Says:

    Nobody’s taking the mortgage interest deduction on this low-priced house. Bad for ROI. I’m just saying…

  6. The Gilroy Alex Says:

    On a street named after a brand of cheap soda we drank when I was a kid. And in the deliciously named Alum Rock.

    That means, Buy it now!

  7. madhaus Says:

    The metal in the fence has to be worth something. That should stop this place from dropping below, say, $5,000.

  8. nomadic Says:

    On the radio, they said copper is up to $3.50/lb. I hope they keep an eye on their pipes…

  9. SEA Says:

    Mortgage interest deduction on this place? It’s probably less than the standard deduction…

  10. The Gilroy Alex Says:

    Nomadic I think it may be higher than that, I turned some in today and got a bit over $2 a lb and if it were shinier, I think I’d have gotten $2.50/lb – last time I checked, copper was about $4 on the metals market. A recycling place will generally pay you about half of “spot”, sometimes a bit higher depending on the metal, for instance my gold and silver place pays half of spot for silver, but something like 72% for gold.

  11. nomadic Says:

    You are right, Gilroy Alex.

  12. ES Says:

    I live in this neighborhood now (kinda) and I pay $1550/ month for a 2/1 condo with a patio and garage. I would buy this for $150.

  13. Frank Rizzo Says:

    Now it’s back on the market with a price of $255,000 and a claim of lender approval.

    But, one door closes and another one opens. For less than $100,000 you too can experience the pride of homeownership in the capital of Silicon Valley. Bring your own kitchen.

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