20612 Chaparral Circle, large Lake Wildwood home, listed for $325,000

Investors, take note. This home is not a fixer, not a bad condition. There is some deferred maintenance on the exterior, but the interior is clean, and while the house has not been update in 20 years, the fixtures and appliances look well maintained. So, why is this home listed for just $137/sf? Does that make this home a potential for a fix and flip? No, it does not! The driveway is steep and there are a dozen steps up from the garage to the main living area. But that’s not the real problem. The size of the foot print alone does not necessarily mean the home is well laid out. The question to ask is, how is that 2400 square feet allocated?
About 1400 square feet of this home are in a traditional 3 bedroom 2 bathroom home. There is 700 square feet divided equally between two “bonus” areas in the house. There is a finished game room downstairs that has its own bathroom, and closet, and a separate entry, so that could be used for all kinds of purposes, and there is another 350 square feet in a second bonus room over the garage, no bathroom up there, but again, a room that could be put to many possible uses. The problem is, most buyers don’t really need a bonus room, and it would be very unusual if a buyer had a need for two separate utility areas within the house. The extra space in this house is simply not all that desirable. You can imagine, if the allocation of space were different, and the master suite was made much larger, and the living room and kitchen were made bigger, and the guest bedroom all good some additional space, a house with the same 2400 square feet would feel like a whole lot bigger house than this house. This house, basically feels like a 1600 square foot home, and the seller, intelligently, has priced it accordingly. So, here is the warning to investors, don’t look only at the price per square foot. This home will sell, probably close asking price, but there is no upside and no fix and flip investment here.

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

Leave a Reply