House of the Day: 1232 Dean Street
This four-story house at 1232 Dean Street in Crown Heights just hit the market and, like so many houses in the area, has some killer architectural details. (In this case, it’s the wood paneling and built-ins that really impress.) Hopefully for the seller, this place will attract more interest than the next-door neighbor at 1230…
This four-story house at 1232 Dean Street in Crown Heights just hit the market and, like so many houses in the area, has some killer architectural details. (In this case, it’s the wood paneling and built-ins that really impress.) Hopefully for the seller, this place will attract more interest than the next-door neighbor at 1230 Dean Street, which we featured a year ago and is still on the market for $1,250,000. While we suspect there will be plenty of people who dig the house, we suspect that the price tag of $999,000 for a house in this neighborhood may be a tough sell in this economic environment.
1232 Dean Street [Halstead] GMAP P*Shark
Oh, What…you are a dream. Running the numbers for me. My ilk and I appreciate it.
I’m just a really simple, dumbass.
Sam, I know we (hubby and I, no cat) can do it. We are just so hesitant right now, with the economy in a downward spiral. I have to sell in order to buy. It’ll happen one day. I always keep my eyes open for a good deal. And this one piqued my interest (not that I’m saying it’s a deal).
I definitely, have to love the house that’s for sure. I’m very picky.
BRG: If you like the house, and if by “we” you mean yourself and one other gainfully employed person (cats don’t count) I think you can definitely do it. First of all, you will deduct the cost of upgrading the mechanicals and any strucutral deficiencies from the asking price. Then, you factor in the income from your garden apartment. And hell! -it’s cheaper than renting. Well, maybe not right away, but it will build you wealth in the long run. The most important thing is that you gotta love the house. Pipes, and terlets, and refridgerators come and go. They are of no concern. Trust me.
I bet you could buy this for well under ask. Really.
“Plus, according to the ‘what’, we’re in for worse times.
It’s all so complicated.”
No it’s really simple, dumbass. To but that dream home will cost you about 7,000 a month.
Say 800k purchase price. 750+ Fico, 25% down 200,000 down (Banks are only doing 75% LTV). Closing cost 48,000. So you would need about 250,00 to get started!
Monthly payment: 30 Years
Interest rate: 9.750%
Loan amount: $ 600,000.00
$ 5,154.93 a month
Plus Insurance, Taxes, Utilities and Misc. Yep about 7k a month using the 35/41 rule. You income need to be around 84,000 a year and I can apply the income from your rental. The number hurt my head now and this just a estimate of your monthly pain. eh plan.
The What
Someday this war is gonna end…
BTW Jumbo”s are running about 10%!!
Oh, gee, guys..that’s sweet.
but…at 999k, and if it needs all new mechanicals, we can’t do it.
Plus, I’d want to convert it to a garden rental and a triplex. If we like it, I’d have to crunch the numbers to figure out costs of such a reno.
Plus, according to the ‘what’, we’re in for worse times.
It’s all so complicated.
Liubitca:
I can see where you’d get that vibe.
My grandparents owned a pair of adjoining Victorians, and visiting them could be spooky: the long, twisting stairs; the nooks and crannies; the extra bathrooms and kitchens (added, over time, for their children as they married and started families — maybe this house is similar; lots of old Brooklyn families held on to their properties for years). But that’s what makes them interesting.
As for the odd bathrooms and kitchens, if this were an inter-generational house, distinctions among “apartments” would be vague. I remember an aunt and her husband with a living room in one part of the “grands” house and their bedrooms in another. While still another aunt and uncle, temporary residents, walked between the two houses, dining in one, sleeping in the other!
In the 50’s and 60’s, people of my parents’ generation complained about the inflexibility and inconvenience of old houses, but they were actually anything but! More likely, that generation wanted to disassociate itself from its parents’ tastes and become “modern.” (I remember the horse-hair sofas. They were “ugly” and they did scratch! But how much do brownstoners pay for them now?)
NOP
Me too. Hope you buy it BRG. It looks pretty amazing.
Wonderful, BRG, hope you go get it. Can’t wait to hear more.
Not an SRO…legal 2-family.
According to DOB, they replaced boiler in 2001.
They have a legal curb cut, filed in 2004.
If I go check it out, I’ll report back. This one is exciting me. It might have to wait till after the holidays, though.
I’m wondering if the plumbing, electric and heating are not updated. They mention the roof but nothing else.