House of the Day: 591 Putnam Avenue
At first glance, we were pretty excited to see this detail-laden brownstone listed for only $650,000 $549,00. Then reality set in. For the longterm owner who’s up for a major project, this still is probably one of the cheapest ways to get their hands on an old brownstone. For someone who’s looking at this with…
At first glance, we were pretty excited to see this detail-laden brownstone listed for only $650,000 $549,00. Then reality set in. For the longterm owner who’s up for a major project, this still is probably one of the cheapest ways to get their hands on an old brownstone. For someone who’s looking at this with the unemotional detachment of an investor, you have to wonder whether you want to be paying a million bucks when all’s said and done for a house in this location. How does that stack up to recent comparables in the immediate vicinity? Update: The price must’ve just been cut. At $549,000 it certainly does look interesting.
591 Putnam Avenue [Corcoran] GMAP P*Shark
anon 1:49: What size is your business partner’s building and where is it located exactly? And who says $750k-$800k is market? And how have this property been marketed (fsbo, with sign in the window?)? Is there a broker involved in this?
These, admittedly, are a lot of questions, but if your statement has any relevance, then it begs these questions.
This house will be a good buy for someone who wants to live in their home and not flip the house (i.e.. anon 1:49). I think we all lose track of the fact that there are people who want to buy a home that they will stay in for a good 20-30 years…..
The condition of that ceiling suggests there may a problem with the roof.
full reno for 750 is market? hmmm…
I don’t think this is a good deal in this location. A business partner of mine has a building in the area a couple of blocks over at Tompkins (corner brick bldg)-closer to the Clinton hill and he is having trouble selling at 750-800K-which they say is market. It has been on the market for almost a year. It needs a full reno. No serious inquiries even for less.
The price cut is more interesting than the price itself.
Look at the floor in the picture with the peely ceiling. Is that a common pattern? It’s beautiful.
I’ve driven by this property but have not looked in. I’m more interested living closer to the edge of Clinton Hill (kid in elementary there) and wondering what anyone knows about the market closer to the Franklin C stop? Is the market stable or could it still decrease more?
if its priced at 549 its a good investment. if you’re looking to get rental income from it you’ll probably do a cheap reno anyway and it will still be worth if if there’s no serious foundation, electrical or roofing problems.