15614 Cascade Loop Listed for $325,000

This 1988 two bedroom and one bathroom home in Cascade Shores had the two-car garage converted into a studio apartment sometime in the past, so there is a second kitchen, bathroom and living quarters in what used to be the garage. There are lots of problems with this house without considering the downside trade-off of losing the garage and exchanging it for an apartment.
The home is in poor overall condition. The siding has failed in several places, and the decks show visible signs of dry rot. The interior is dated to the original construction. The bathroom in the main house also serves as a laundry room, the water heater for the main house is mounted on the exterior of the home. The garage conversion, while it appears to be permitted for converted use to living space, it was definitely not converted to use as a separate unit, and there was never any upgrading of the septic system, so this home is only permitted at a two-bedroom home, and the garage is not supposed to be used as a bedroom. Regardless, the conversion was done with very poor materials and construction, so the entire conversion would be better off being torn out and re-converted back into a garage, which is the best use for the space.
The condition of the home is not surprising, but the list price is. Based on lots of other homes we have previewed in Cascade Shores over the last six months, a home in this condition with these features should sell in the $270,000 to $280,000 range. It will be interesting to see what this home sells for. Obviously, if the right buyer comes along, one who absolutely needs the in-law unit, then they might pay a premium for this property, but I believe this property will go long into the spring market without an offer anywhere near the current asking price.

Author: gordon

Nevada County Resident since 1988. Painting and Decorating Contractor 1985-2003 Nevada County Realtor Since 2004 Member of the Nevada County Masters Club (top producing agent) Every Year Since 2004

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