Also, I did not fall in love w/the property. Just trying to understand b/c it doesn’t make sense.
rickt agreed that Nancy overpaid and I concur in view of the triplex next-door that sold later for 815k, which made sense. That is the comp right there, or close to it. That was still near peak.
In light of other sales on that street, I am hard-pressed at understanding 655k for a gutted duplex, especially now in these economic times. They were pushing selling it for 940k at peak bubble.
1211 Diamond that sold for 715 was a turnkey SFH, allbeit zoned multiple. The backyard was HUGE and they can build behind while they live in the front house. The 1211 was 6300 sf, maybe more (1076 is at most 5000sf). Can’t remember for sure right now.
I just try to analyze this w/out emotions and it makes no sense. Spock, I’m not. When I don’t understand something, I get frustrated (emotional) even angry.
How can they purchase it at 655k and even fixing it up, expect to get 1.2 million in these economic times? That’s what I’m having trouble with.
