12201 Madrona Way, Lower Banner home is desirable neighborhood, but home probably cannot be renovated. Listed for $189,000

$189,000 on Lower Banner, where homes can run 3/4 of a million and up, even a tear down might be worth it, but is it? A couple of things. First, the lot itself is just .35 acres, so it’s a small lot, even by Nevada City standards. It has piped city water, so no need for a well, but the home has a septic system, and I heard that the septic has failed. There is no way this lot is big enough for a new septic system, even if the soil percolates well, which I assume it does given the nice tree cover. But the house itself is a wreck. Not even the foundation look like it can be saved. The entire house suffers from bad framing, failed siding, and leaking roofs. There is no plumbing or electrical, that’s all been removed, so the home is stripped down to the studs, but what you can see of that reveals broken member, dry rot in the wall, and pest damage. Everything must go! And did I mention there is an old 1950’s trailer under a shed in the back yard? Not salvageable, it needs to be hauled off to the land fill- add another $5 or $6 K to the cost. There are vacant lots on Lower Banner, not many but this one is not a good a value. Perhaps at $50,000 or $60,000 this one might be worth a second look.

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