A new flip came on market at 646 Maryland St. 90245. Listed by Jim Van Zanten, a Manhattan Based realtor. Priced at an ungodly $1035/sqft this tiny 1038 sqft house is listed for $1.075 mil. and It will sell.
Someone got some white paint from home depot and painted the 1950s cabinets therefore this house MUST be worth a million dollars. Built in amenities like a chopping block that has seen 50+ years of use. Emmm, sounds delicious.
Brand new hardware and vanity for your
master ONLY bathroom. Don’t bumb your knee when you get out of your shower.
This is market price. The price is what the market will bare.
Someone is going to drop $200k of their life savings for the privilege of spending about $5000/month to live in this house.
Here’s a little lesson on the future value of money. If you take $200k and invest it and get a 6% return on your money (completely achievable) after 10 years you will have $358K. 15 years = $479K, 20 years = $641K –
You want to tell me that your tax write-offs after ten years compares to an extra $158K in the bank?
Yes, I get it’s not a fair comparison because I’m not taking into account that this $1 million dollar house could be worth $1.6 mil in 15 years with a 3.5% annual increase. But one of these “investment” scenarios involves you taking all your chips and pushing them in. Seems like a sound investment.