Is 8th St. Charmed?Posted on Monday, February 6th, 2012 at 4:58pm.
It's a 1997-built, very much customized and updated Spanish with a lot of grassy yard out back. The kitchen is fully modern, while the attached family room has attractive, high-beamed ceilings and opens out to a sizable patio and that big yard.
The 5br include one downstairs – albeit with a hallway (unattached) bath, not a full suite – while one upstairs kids' bedroom is a suite, and the other two share a jack-and-jill bath. The master is just enough – nothing is overly big – with a nicely updated bath. About the only surprise to the downside is the master's two smallish, separate walk-in (step-in?) closets.
The location is convenient for lots of family purposes. It's about 4-5 short blocks to Pennekamp Elementary, obviously just a couple more to the high school, and to the north, it's 2 blocks to Manhattan Heights park (tot lot, tennis, baseball/soccer, basketball and community center), and you're just across MBB from big Polliwog park and the middle school.
1555 8th began at $1.899m and posted a deal before its first scheduled open house Saturday.
Earlier this year we saw 2 other reasonably quick deals:
Pricing was $1.425m in late December, and $1.424m in late January when a deal posted, with about 30 DOM. (Huge home, modest price = $288/PSF.) That one's the winner, as it were, of the "Battle of the Giant 90s Homes" we described late in 2011.
Maybe it doesn't need a top-to-bottom remodel like 1648 8th, but we did point to "rough and worn edges here and there, and lots of parts demand[ing] a 21st-century update some day, most notably the master bath."
1305 8th last traded in June 2006 at $1.850m, but had been updated some since then. The listing debuted at $1.725m and lasted 10 days, raising some eyebrows, but perhaps setting the tone for 2012 east of the highway. We'll see.
Returning to the theme of big early-90s homes on 8th St. that need absolutely everything...
It's drearily original in condition (1991 build), but boasts an unusually large lot (8250 sq. ft.) with a huge, blank yard.
So, yes, it needs everything, but at $1.399m we called it "compelling for fixer-oriented East MB buyers," wondering aloud, "how many 'fixer-oriented East MB buyers' are there?"
Turns out you need just one – and they found one quickly. Now we'll see how that short-sale process works out.
So 8th Street is humming, but there's one exception.
Alas, this one is just 5 doors off of Aviation, on a block without lots of modern homes, and they're still priced high at $1.765m, a 14% markup over the 2004 acquisition at $1.549m. That remains, as we said last year, "fanciful," which even being on a lucky street can't fix.
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