Blast From the Past

Based on the numbers, this property looks like a good deal. The asking price dropped $10,000 this week, to where it’s now snuggled against the past-3-months-sold average; it’s on a larger-than-usual lot; and the $251 per-square-foot ratio is much lower than the average of $340 for all homes for sale in the area.

But numbers don’t tell the whole story. You have to factor in condition.

Condition doesn’t mean just maintenance; it also describes how dated – or updated – a house is. And this house is a prime candidate for a cosmetic makeover. That, I promise, will add a pretty penny to the eventual price you’ll pay.

Now, Jessi, our mid-century maven, may disagree with me because what I’ve pegged for a facelift are most of the original post-war finishes. (Disclaimer: I actually like mid-century – good mid-century, that is.)

In particular, I think the kitchen and bathrooms should be gutted. I don’t like the tile (yes, it’s original), and I hate the kitchen layout (cramped, S-shaped, and the stove needs more prep space). Right there I’ve spent $60,000 to $100,000. And I haven’t even addressed the knotty pine den.

So I think the right price for this property is closer to the low end of its Zestimate, from $512,345 to $595,750. You might be able to swing that deal. It’s an estate sale, been empty for at least two years, the kids are eager to sell, and they’ve had it on and off the market since August.

STATS:
Neighborhood: Ballard
Price: $634,950
Address: 3228 NW 65th St., Seattle, WA 98117
Square footage: 2520. Lot size: 7640 sq. ft.
Bedrooms: 3 Baths: 1.75
Last sale price: unavailable
MLS#: 27002806
Click here for detailed listing