This home is nearly 3000 square feet, making it the largest home priced under $325,000 in the last 12 months. Priced all the way down to $113 per square foot, it is hard to imagine how the home could be anything but a great value… Yet, an inspection of the home proved just how tricky it is to evaluate a home like this. First, it is not bank owed home or a short sale, but the owner purchased the house last year for $300,000 with the idea they would fix it up, and make a fortune. No repairs have been made, the home has actually been neglected and is in worse shape than it was a year ago, and no the owner wants out.
The floor plan is not ideal. The house is a full three stories tall. When you do the math, with three stories, the actual foot print of the house is just about 1000 square feet- what that means is on any given floor you have not quite enough living space for the comfort of kitchen, living, and bedrooms. This problem if floor plan layout is solved on each floor with some real compromises in utility. On the middle floor, where there is one bedroom and a bathroom and a very spacious living room, the kitchen is galley style, small and would hardly serve a single person let alone a large family. The tile is ugly, the fixtures are old.
On the top floor, the bedrooms are constricted by the steep slanting A=frame roof, and there is no master suite. Two bedrooms share a small and very dirty bathroom that needs upgrading. There is a sleeping loft way up in the peak of the A-frame, but it is only accessible with a ladder. There is a sun room, but it appears unheated. The rest of the space is lost in a cavernous opening to the living room, which is majestic to look at but wastes a huge amount of space.
The bottom floor is composed of a day-light walk out for three bedroom, a living room, and bathroom, is dark, dank, and needs a facelift to make it habitable.
Every where the home lacks charm, grace, and needs freshening and updating.
When this home is completed and done up right with all new paint and carpets, and clean up and refreshed, it might hit $175 per square foot, or $500,000, but that would be a push. Not every buyer in the 1/2 million price range is going to like the A-frame, the three story floor plan, or the location. Even done up nice it might not draw buyers unless it lists under $500,000. Just have to watch this one and see what happens.