With a new cut Monday morning, the double-lot at 2900 Maple
looks like the best deal on dirt in MB.
The bucks are still many – $1.749m
to be exact – but that will net you dirt equivalent to 2 full-size lots (2 x 4640 sq. ft.) with an aging rancher on the property. (The pool looks inviting this week.)
A local spec builder grabbed 2900 Maple for $2.555m
in Feb. 2007, clearly intending to split the lot for 2 new cookie cutters. (Price paid was equal to $1.277m per lot after a split.)
Now, 2 years later, the new price is a drop of $806k (-32%)
from that height. No wonder, then, that this is now posted as a short sale.
The most recent, comparable lot transaction we saw in the Trees was at 1900 Laurel
, a plus location offering a larger-than-normal 6000 sq. ft. lot and a corner. That went for $1.25m
in January. Also, 1205 Walnut
, a 1.5-size lot (6700 sq. ft.) too close to MBB, closed for $985k
in late March.
2900 Maple is north of Valley but otherwise counts as a decent location, midblock on a quiet street. With a couple more slices off the $1.7m range, it might even be a nice acquisition as a fixer. Imagine a sensibly sized home (3br/3ba, 2250 sq. ft.) with more than enough back yard – that's rare in the Trees after all the redevelopment of the past decade.