House of the Day: 501 Bainbridge Street
There something a little funky about this listing at 501 Bainbridge Street. First some history: The house was purchased for $570,816 in November 2007 and then sold again in January of this year for $290,000. It came back on the market in March for $559,000 and was just reduced to $525,000. There are some original…
There something a little funky about this listing at 501 Bainbridge Street. First some history: The house was purchased for $570,816 in November 2007 and then sold again in January of this year for $290,000. It came back on the market in March for $559,000 and was just reduced to $525,000. There are some original details intact, but much of the house has been on the receiving end of an el-cheapo rental renovation. We’d say they’ve still got a ways to go on the price.
501 Bainbridge Street [Prospective Properties] GMAP P*Shark
This house should be at a price that a first time buyer could easily get. I know of a good five houses in Landmarked Stuyvesant Heights that are cheaper than this house. Local churches, friends that are not Realtor etc.. are trying to sell these properties… These 500K houses will never be a houses of the day because they never make the web or the papers… You just have to know the right people in Bedford Stuyvesant.
“Is this area safe?”
Not for someone from Park Slope.
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As usual, you’ve contributed so much to the conversation.
And I’m not from Park Slope.
Again, you really should stick to the OT where you’re more popular and can talk about your expertise on cat poop.
mopar –
Examples from a quick search follow. Note that all of these are in a nicer area, just off the A/C line, most in the landmark district, and all BELOW the price of this HOTD.
http://www.trulia.com/property/1076069165-131-Decatur-St-Brooklyn-NY-11216
http://www.trulia.com/property/1071318745-192-Decatur-St-Brooklyn-NY-11233
http://www.trulia.com/property/1076238794–Brooklyn-NY-11233
http://www.trulia.com/property/1059052738-147-Chauncey-St-Brooklyn-NY-11233
cw, are there houses in good condition with original details and a top floor three-bedroom rental and three-bedroom owner’s duplex in Stuvyesant Heights for $525?
I’m not defending this price but I want to know because if there is we need to buy one.
The great advantage of the houses in Ocean Hill is that they are original two family houses.
“Is this area safe?”
Not for someone from Park Slope.
This house is in Ocean Hill.
$525 is comedy gold. There are houses this size in the nicest areas of Bed Stuy priced around that much.
This is the type of house that should cost like $250-$300k, and would have back in 2000 when prices were still halfway sane.
While I wouldn’t go as far as saying this house is uck or utterly unappealing, it’s definitely not the typical brownstone house featured here most days. However, it’s not as bad as one may think. While the kitchens and bath are not to ‘my’ liking, but they are new and in working order. There are some details left in this house. The living room has what looks like interesting wainscoting and the window casings are nice. Strip away the layers of paint and you might be surprised the difference. The facade is kinda cute with a great cornice, and it’s on block of similar brownstones, some nicer.
It’s unfortunate it’s priced what I think on the high side for this area. But then again, I still think that a lot of listings, even in ‘Prime’ areas are overpriced. Houses like this should be priced so first time buyers have an opportunity at home ownership.
Is this area safe?