July 15, 2007
Flip in Columbia City Pays Off
A couple of days ago, I posted about an investment remodel that fetched less than asking price. I started looking at comparisons, and this property popped up. It’s east of Rainier in the Columbia Heights area and my esteemed fellow South Ender, Polly, blogged about it in January.
Here’s the rags to riches story: the house was purchased by the handyfolks in April of 2006 for $260,000. It was painted, refinished, re-roofed, and improved in mere months and re-listed for the asking price of $379,950. It must have stirred up some bidding frenzy, because in February, it closed for the tidy sum of $387,450. Dang, you can take this one to the bank.
Andrew said:
Having moved to Seward Park 6 months ago I’m amazed at how fast pricing has come up for smaller homes in this area. It still seems that areas like Columbia City, Gennesee and the like are the best value in-city, for how much longer do you suppose???
July 17, 2007 10:33 AM