MBC has discussed 505 3rd St. in the Market Updates a couple of times (here and here).
This one offers 4br/3ba, 2550 sq. ft. on a typical local lot of 2700 sq. ft., for $1.949m. No yard, and it ain't pretty.
We've called it:
- a dated, mishmash, sorta-remodel
- a challenge
- awkward
- in need
- a head-scratcher
So, it's…
MBC has discussed
505 3rd St. in the Market Updates a couple of times (
here and
here).
This one offers 4br/3ba, 2550 sq. ft. on a typical local lot of 2700 sq. ft., for
$1.949m. No yard, and it ain't pretty.
We've called it:
- a dated, mishmash, sorta-remodel
- a challenge
- awkward
- in need
- a head-scratcher
So, it's not our dream house.
The South End location is nice, but there are recent sales nearby to consider...
- 532 1st, 4/3, 2650 sq. ft. nicely remodeled and on a larger 4000 sq. ft. lot, sold for $1.9m in late April (third pic)
- 525 2nd St., 4/4, 2750 on a 2700 sq. ft. lot, newer and crisp, closed for $2.125m in early July (fourth pic)
- 440 6th, a small home on a corner lot (@ Ingleside) on a walkstreet (quite possibly a teardown), in escrow, was listed at $1.899m
So, recent comps, seemingly all better homes or better locations, have been at
$1.9m or a tick higher. At $1.949m, 3rd is playing the equal or better to the comps above, though it isn't.
505 3rd has been around since early June. (There has never been a sign out front.) They pulled a
bogus re-list this week so the current MLS# (S952443) starts Aug. 7.
The re-list was, evidently, due to a failed escrow.
(Doesn't that justify pretending you have a new listing?)
MBC might march out and say 505 3rd is overpriced, but they already had one acceptable offer, so how far off can they be?
The sellers paid $1.6m in Sept. 2005. They are getting out, and a profit would be nice.
But this is one of those listings that falls into the nether-regions – they want too much for the lot, but the house ain't that great, and pricing is a mystery as a result. Where should it be?
UPDATE: We hear that 440 6th (the walkstreet corner) went for $2.050m, well above the $1.9m list.
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Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 21st, 2023 at 10:45pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
