One bedroom homes are rare to begin with. Within the city limits there are occasional one-bedroom homes that date back to days when miner’s lived in shacks scattered around the city. Over the years, most have been torn down, but there are a few scattered around town that have been maintained and updated. Outside of town, and in any area developed in the last fifty years, nobody built one bedroom homes. The infrastructure costs are the same regardless of the size of the home and most builders have seen fit to make every home at least a two-bedroom home. The result is when the very rare one-bedroom home does come up for sale there are almost no comparable sales. Sometimes we find dilapidated cabins in the woods that are without permits, and we sell that property as vacant land, even though there may be a one-bedroom shack on the property, but a permitted, well maintained home built in 1988, as this one was, has no comparable sales in the last several years.
So, what’s it worth? Only the buyer and seller will be able to make that determination. This seller is starting out at $299,000, but I think that reflects the lack of inventory under $300,000 rather than any sense of what buyers might think the home is worth. If you think about who would buy a home with just 480 square feet, and only a second story sleeping loft for bedroom, this home might be cozy for couple, but completely too small for any family. A single person might like the privacy and quiet, but the spiral staircase up to the sleeping loft almost certainly assures that only a person with strong knees and good balance is going to be interested. A late night trip to the bathroom will mean negotiating a steep staircase that requires a grip on a steel pole and sure footing down to the kitchen level where the bathroom is located.
We will keep an eye on this one. You never know in the winter time what might sell.