13100 Lost lake Road, a fixer in Grass Valley on 2.5 acres listed at $289,500

With this much land, and a desirable Grass Valley neighborhood off Greenhorn Road, a “fixer” might be a real opportunity for a contractor or investor, and this home shows some potential in that area. It is a little hard to determine what happened to this home. The home is surrounded by trash and broken up personal property, as if a tenant or home owner took stuff out of the home and then ran over it with a tractor. Inside the home the house is beat, with occasional signs that somebody was trying to fix it up? It needs a new kitchen, and most of the interior finishes are in need of replacement. A though inspection would be needed to see exactly what works and does not work in the home because it is clear uninhabitable in its current condition. The guest bathroom on the first floor is the one exception. It looks like the finishes might be salvageable.
So, where could an investor go with this house? Fixed up and move-in ready, a 1600 square foot 2-story home in this neighborhood with no garage, maybe $450,000. Id it was a ranch style home, if it had a master bedroom on the first floor with it’s own master bathroom, if it did not have the “A-frame” roof on the second floor that squeezes the size of the upstairs bedrooms, if it had a garage, then yes, it could get $450,000 when done nicely, but this home also has some functional obsolescence in the floor plan that no amount of remodeling and cleaning will fix. Buyers prefer single story homes, they prefer homes that have a master suite. The downstairs bathroom serves both guests and residents, while the upstairs guest bathroom is wedged between two small bedrooms at the top of a narrow staircase. Based on the square footage and size of the lot, it would surely draw lookers at $450,000 but by the time it sold, it might be $399,000 or a bit less. Given all the work it needs, that’s a margin only a very smart contractor with a frugal approach and light touch with the expenditures is going to make any money on this one.

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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