House of the Day: 6 Third Street
Even if this house at 6 Third Street in Carroll Gardens is in as bad shape as we suspect it is, it’s still looking pretty darn cheap to us at the asking price of $975,000. It’s currently configured as a two-family, double-duplex house. The listing says it has tin ceilings, marble mantels and pocket doors,…
Even if this house at 6 Third Street in Carroll Gardens is in as bad shape as we suspect it is, it’s still looking pretty darn cheap to us at the asking price of $975,000. It’s currently configured as a two-family, double-duplex house. The listing says it has tin ceilings, marble mantels and pocket doors, so it sounds to us like someone could buy this place for asking, sink another $500,000 into it and end up with a great, finished house for under $1.5 million. It almost sounds too good to be true. Is there a catch we’re missing?
6 Third Street [Manzione RE] GMAP P*Shark
Photo by Kate Leonova for Property Shark
thats the sound of your property value dropping
Even if the place is a dump, a vacant lot would probably sell for this amount in the area. If this building does not have rent control tenants, it is underpriced and if I was looking, I would go today with my check book. I live and own nearby and I can’t imagine that they priced the house at this level because it needs work.
Used to be a time when there was an occasional constructive comment on this blog. It would be helpful if some posters actually did soemthing like go so the house and post afterwards when they had somehting to add. This blah blah of the house will be either worthless or worth $2 million in a few years is pointless.
wow, when the realtor calls a listing a dump, that is usually not a good sign.
Maybe there are radioactive rent control tenants?
The clown is you 3:49 because you don’t have the listing and she does. And she has the integrity to be honest about what she is selling unlike the Minsky-like slime at Corcoran.
I thought yesterday it was all about how much everyone hated Corcoran.
Well for starters, it’s listed with Manzione – a clown shop. The woman I spoke to over there had nothing but negative things to say about the place. She referred to it as a “dump.” Good luck selling a place that you don’t even believe in. This is why Corcoran gets all the listings.
“Yeah but if there is a decent chance of spending 1.5m sometime in the next 12 months and getting a better example, it is better to wait.”
So you have a crystal ball?
No one knows this. Think of all the people who said in 2001 that prices could absolutely go no higher.
You don’t time the market. You buy when something you love at a price you can afford presents itself.
This will be such a property for at least one person.
“Some people’s brain’s have the capacity to think about farther down the line than 9 months from now. ”
Yeah but if there is a decent chance of spending 1.5m sometime in the next 12 months and getting a better example, it is better to wait.
No matter how long you plan to be in the house.
Especially if you’re the majority who don’t feel comfortable with the stress of a gut renovation.