A Tale of Tree Starters

Posted by Dave Fratello on Wednesday, August 1st, 2012 at 7:24pm.

In the Tree Section, what sort of modest, little place can you get for under $1m?

There are a few new answers coming out.

3508 Pacific
3508 Pacific (2br/2ba, 950 sq. ft.) offers one of the most difficult answers. This little place has less than 1000 sq. ft. of living space and is along a busy street very near the refinery.

It's a good example of a marginal old home in a subpar location that, at least, merits a discount. The recent sale at $795k makes it one of the least pricey sales in MB this year. It's one way into the ZIP code, either as a starter or for a rental.

3521 Elm (3br/2ba, 1225 sq. ft.) offers quite a bit more – an extra bedroom, 300 more sq. ft. and some bonus space, plus a better location. All that, for $200k more at $985k. (For our review from mid-May, see this link.)

2904 Pacific
2904 Pacific (3br/2ba, 1100 sq. ft.) falls somewhere in between. Common spaces are upgraded, but bedrooms all impossibly small, with a master shower smaller than a phone booth. (If you can remember what a phone booth is.). This one also, oddly, shares a driveway with the neighbor.
A rental with a history, this one sold for $873k. (For our review, see this link.)

2305 Oak
2305 Oak (3br/1ba, 1025 sq. ft.) is a small but bright and  remodeled little cottage. Asking $849k, it boosted up to $860k.

The snazziest starter to sell this year in the Trees was surely 2001 Pacific (3br/2ba, 1070 sq. ft.), a fashionably redone flip.

We said "[t]here was a real vision behind the overhaul, which was to create a unique kind of beach cottage with throwback appeal."

It's very fashionable with a huge and sunny, west-facing backyard with a new deck and new grass. You rarely find a 4800 sq. ft. lot feeling this enormous.

2001 Pacific began at $1.059m and settled at $990k.

And while it might seem that every starter is on Oak or Pacific, 3528 Palm breaks the mold, a bit. (As did 3521 Elm – a bit.)

Officially, it's 2br/1ba, 840 sq. ft. But the listing explains that there's more to it – 2 additional structures that can't be counted, officially, but which you can enjoy nonetheless: a separate office and bonus room. Like a cottage had babies.

Palm began at $925k, cut to $899k and ran about 3 months before recently posting a deal. We'll see where that one settles out fairly soon.

So that's what you get in the Trees, between $800k-$1m, a couple, maybe 3br, about 1000 sq. ft., a location around the periphery or on a busy street – and a plus-plus remodel only if you go to the higher end and get lucky.
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