House of the Day: 591 Putnam Avenue

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.

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?

Look at the floor in the picture with the peely ceiling. Is that a common pattern? It's beautiful.

The price cut is more interesting than the price itself.

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.

full reno for 750 is market? hmmm...

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.....

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.

19 Verona Place, a 4 story closer to Clinton Hill, just sold for $820k after a bidding war. The guy is gutting it. I think it's a flip or he's making condos.

This thread concerns 591 Putnam, not Verona Place. It (591 Putnam Street) looks like a good deal for someone who is comfortable with living in the neighborhood. I am not that familiar with this immediate area. Anyone has any meaningful details regarding the area?

9:09pm, Verona Place sat on the market for a long time because they weren't really marketing it. I happened to see the open house because I passed by one day. They were asking $775k and I think it was on craigslist/open house for 2 weeks. Other than that, one really wouldn't have known it was for sale. The house seemed sturdy. Anyway, I think that's an indication of the market in that area.

It is directly across from the old Armory and right next to an abandoned building. The Corcoran photos of course don't show the abandoned building it is attached to.