Here’s another overpriced home a few blocks from the plaza. Listed for nearly $1.5 million, 423 Haydon is off the charts.
According to Zillow this home was worth $360,000 in January 1999. Currently they value it at $940,000 (37% less than the listed price, and I still think Zillow’s estimate is inflated). The home sold for $650,000 in October 2003.
Assuming you had $300,000 laying around for a down payment, you would still be facing a monthly mortgage payment of $8,800 (over $100,000 a year). Add in yearly property taxes of $15,000 plus maintenance and you get the picture.
UPDATE (7/17/09): See comments below regarding the history of this home and remodeling dollars spent to rehabilitate the house. It also has sold for over $1 million, well above the Zillow estimate.
This home was on the market for a little under $2 million in 2007 but the agent yanked the listing.
ReplyDeleteThe house was completely remodeled from the ground up in 2003...It was an uninhabital drug den prior to that. Two houses on the property.
ReplyDeleteOver $ 700k poured into it after purchasing out of probate for $650k
The house just sold for 1.325M
ReplyDelete