House of the Day: 735 Decatur Street Revisited
When 735 Decatur Street was House of the Day back in December of 2997 2007, it was asking $630,000 and we called it “by far the most charming house for the money on the market right now.” Well, now its asking price has fallen to $469,000 and the same statement still holds. We just hope…
When 735 Decatur Street was House of the Day back in December of 2997 2007, it was asking $630,000 and we called it “by far the most charming house for the money on the market right now.” Well, now its asking price has fallen to $469,000 and the same statement still holds. We just hope that whoever buys this place is able to negotiate a price that leaves them enough money to redo the facade! For lots of pics, check out this Flickr page from someone who almost bought the house.
735 Decatur Street [Corley Real Estate] GMAP
735 Decatur Street [Brooklyn Properties] P*Shark
House of the Day: 735 Decatur Street [Brownstoner]
I would buy it for 200K and fill it with illegals and charge them 600 a month for a room.
Mopar, bayridgegirl took the words right out of my mouth. Keep watching that house. Never mind the snarks above, it’s a beauty and you love it (I don’t blame you a bit). I think you can get it for a price that has the repairs built in–and then some. With the location still up-and-coming and the (as Bob Marvin points out) poor “cosmetics” (for many) mid-300s may do it. It may be a good thing you backed away, for now. Don’t give up quite yet, though!
“Is it?” was a response to DIBS’ comment about Decatur vs. Gates.
The seller will be underwater if it goes much below $439,000. He bought it for high-300s from the estate of an elderly woman who had lived there many, many years. I would not be surprised if it disappears soon in some kind of inside deal.
We’d feel much better about the whole thing if someone were living there now, and we knew the basic systems were working, even if there was a lot of deferred maintenance.
This is almost like buying a foreclosed house you’ve never been in. Great for a contractor or someone with a spare $300,000 just in case of emergency.
Mopar, if you really love this house, I’d say keep your eye on it.
Requiring that much work, no one is going to bite at 469K, not in these economic times. They’ll have to drop the price to under 400K even mid 300’s.
Is it? All we know is that Mytle Broadway on the JMZ and Dekalb on the L are getting a lot of new people and restaurants coming in, so we would feel less worried about the rents.
Mopar, you sound really in love with the house, and that is so important. If you like the feel of it, do the math with a conservative rent, only one income, and make the offer YOU can afford. What’s the worse that can happen?
Be careful about those pesky “mechanical and structural” issues. A new heating/cooling system and the new electric panel and rewiring that comes with it can be very, very expensive. I think BRG is right about the budget.
Isn’t this in Ocean Hill and not Bed Stuy?
Is there a difference?
I always thought that Ocean Hill was considered really dangerous.
Gates St is a far different animal than Decatur, far different.