Open House Picks
Prospect Heights 407 Sterling Place Brooklyn Properties Sunday, 2:30-4 $1,725,000 GMAP P*Shark Prospect Lefferts Gardens 190 Lincoln Road FSBO Sunday, 12-2 $949,000 GMAP P*Shark Bay Ridge 317 72nd Street Parkview Realty Sunday, 1-3 $929,000 GMAP P*Shark South Slope 157 16th Street Corcoran Sunday, 2:30-4:30 $650,000 GMAP P*Shark
Prospect Heights
407 Sterling Place
Brooklyn Properties
Sunday, 2:30-4
$1,725,000
GMAP P*Shark
Prospect Lefferts Gardens
190 Lincoln Road
FSBO
Sunday, 12-2
$949,000
GMAP P*Shark
Bay Ridge
317 72nd Street
Parkview Realty
Sunday, 1-3
$929,000
GMAP P*Shark
South Slope
157 16th Street
Corcoran
Sunday, 2:30-4:30
$650,000
GMAP P*Shark
The Lincoln Road house, with that bed on the parlor floor, reminds me of my house when we first saw it [my house wasn’t an estate sale, but might as well have been, since it was being sold for the elderly nursing home bound owner by her nephew. It’s on the south (Lefferts Manor) side of a really nice block (Greenest Block in Brooklyn last year).
Hopefully there’s a lot of room for negotiation on the price.
quote:
Living in your own house and doing to it what you please…PRICELESS.
you cant do what you please in landmarked districts tho
and for the most part rents can do whatever the hell they want as well.
*rob*
I don’t have a POV on the price of 16th Street, but you can’t compare ROI of a home vs. mutual funds unless the property is an investment. The purcahser has to live somewhere, and those costs have to be factored in. If you take the Corcoran website puchase cost calculator, at list price and 20% down a high bracket tax payer is getting a tax savings via the deduction of $848 a month from a monthly mortgage and taxes of 2911 (at 5.25%). I.e., probably $2100 a month after taxes. Include another $200 for insurance, water, etc., and still it’s a better deal than renting a lot of places with outdoor space.
What’s holding back this property is that the house is surrounded by some type of loading and construction zone. Maybe that has changed since Google did its last photos, but that looks horrible.
“Living in your own house and doing to it what you please…PRICELESS”
Nope, that costs $$ too.
quote:
starter home
it’s 3/4 of a million f’ing dollars. who the hell “starts” out that way?
*rob*
Living in your own house and doing to it what you please…PRICELESS.
OK, I admit math is not my strong suit. But let’s say you bought 16th street at $650,000. You live there for 5 years, and then sell it at the same price.
You lose 5% to a broker, so that’s $32,500 lost. You “wasted” $30,000 more by paying $3000/mo instead than renting for $2500/mo for those five years. The rent may go up in that period. The value of the house may go up or down, hard to say. Either way, you’ve locked up $130,000 in cash that could have been earning money otherwise.
Maybe it pans out. It doesn’t feel like a slam dunk though.
DIBS, that’s not my point (except, yes, I agree that in inflationary cycles, real estate moves the opposite way from bonds). I’m using Vanguard as a simple bench mark. That one might do better in terms of principal and interest in another mix of investments is besides the point, which is buying this house as an investment should be based solely on a belief about how the principal value will increase, not on what it will throw off.
One problem with the SS place is the only full bath is on the main level, so you have to go downstairs from the bedroom to shower. That would be weird.
Other than that, the kitchen is lame, but livable, and having a deck would be cool (for those of us who don’t have one), and the place is pretty small, but for maybe 50K less, this place ain’t bad. (I don’t know that exact area very well, though.)