Small is Beautiful: Tiny Phinney Ridge Place Gets 526 Clicks
The most clicked-on property (526 times!) on Redfin this week is a nice little place for $349,950 in Phinney Ridge, where half of Redfin lives, and the other half wants to live:
3 bedrooms, 2 baths, set up for renting as a 2 bedroom upstairs flat and a one-bedroom studio which the listing claims has rented for a total of $1,200 to $1,300, which is probably $100 less than what the mortgage would be if you could put down 20% with good credit. It’s far enough off Aurora that the noise won’t be so bad, but the commute will still be easy, and it’s just a few blocks from Woodland Park:
(porn property outlined in yellow, other property for sale in red, sales in the past three years in blue ).
It all sounds good, except the listing does not provide square footage; the Redfin report on property tax records indicates there is 1,000 square feet of finished space (160 unfinished). So that’s awfully small. And despite reports of a softening market, we put in an offer through our Redfin Direct program this week on a property that had 14 competing offers; houses in this range tend to get bid up. I like the big tree in the yard though, even if it shades the living room.
Go to Redfin & search on “609 N 48 ST” to check out the comps (click the search tab and choose 3 years of sales history): the house next door (1,960 square feet) sold for $397,500 in May 2004. Two houses behind it sold for $669,000 (but 2,400 square feet) in November 2004 and $469,000 (1,010 finished square feet, 1010 unfinished square feet) in February of this year.
