House of the Day: 475 8th Street
It’ll be interesting to see what 475 8th Street ends up selling for. The three-story brownstone is well-preserved and has plenty of nice original detail but it’s definitely doesn’t have the “wow” factor that some houses in this part of town have. Of course, at $1,700,000, it’s also priced lower than such houses. Given its…
It’ll be interesting to see what 475 8th Street ends up selling for. The three-story brownstone is well-preserved and has plenty of nice original detail but it’s definitely doesn’t have the “wow” factor that some houses in this part of town have. Of course, at $1,700,000, it’s also priced lower than such houses. Given its location between 7th and 8th Avenues, we bet this will fetch within 10 percent of the asking price—which has to be considered a win in this market!
475 8th Street [Brown Harris Stevens] GMAP P*Shark
“DIBS, correct my math if it’s no good. 30k to 1.4M in 40 yrs (per 11217) is 23% compound rate per yr”
Snark appropriately noted before that this house has been in the same family for 60 years, not 40, so your math could use some tweaking. You are simply making up the 23% per year because of a fictional story I made up.
Now I need a walnut to read THIS thread!! 😉
mopar…what’s to stop anyone from adding a second, third or fourth???
This is a three story brownstone that has been chopped up into two apartments. By its very nature, the owner’s duplex will have only one bathroom.
DIBS, correct my math if it’s no good. 30k to 1.4M in 40 yrs (per 11217) is 23% compound rate per yr
Never said it was common. You seem to either like putting words in my mouth, or just want me to provide you with entertainment by continuing down this fruitless path of conjecture about the year 2049.
Either way, I feel as though this thread is about played out for me.
m4l just wants a good fight to read during his lunch!!!!
11217 –not sure what your point is. If you’re looking at large swaths of time as a predictor of future prices, then you’re assuming the power of reversion to mean, and in this instance, housing probably won’t appreciate much at all for the next twenty years, in real dollars. I think the Team Bull/Bear baiting is juvenile, but it really is DIBS who keeps insinuating that the past thirty years offer some guide to future performance…
11217, rare stuff happens but to assume good odds of that rare event happening again is slim. Not saying it can’t happen but odds are slim. Guess the diff is I view a 46 bagger (23% compound rate over 40 yrs) on real estate is rare and you it’s common or high odds.
Ha, BRG. Caught me.
I glanced in yesterday and then realized after skimming a few posts, that I was lost and out of my element. I did see the “11217” which kinda stood out, and saw something about more4less wanting me to fight.
I’m too shy for the OT though. 😉