Oakland for Under $100/sf
Yes, that’s right folks, step right up and feast your eyes on today’s Daily Stat leader, a 5 bedroom, 4 bath home located at 1352 94th Avenue in Oakland. At 2,368 square feet and a price tag of $199,900, the square foot cost is only $84, which is pretty much unheard of in the last decade round these parts. On the market for 94 days, you also get a bonus 1 bedroom cottage in the rear. (How they fit all this on a 2,680 sf lot is beyond me.) Of course there are some downsides to this property….like it is bank owned (although the listing says they are willing to negotiate on price), it is a fixer upper (in a major way), and it isn’t in the best neighborhood. The sales history on this house is very strange:
Sep 17, 1991 $70,000
Apr 20, 1999 $105,100
Aug 04, 2000 $185,000
Aug 03, 2004 $15,000
Sep 01, 2004 $15,000
Oct 01, 2004 $350,000
Aug 09, 2007 $562,668
Originally listed last November for $299,000—with an interim price reduction on January 2nd of $269,900—the most recent price cut to $199,900 occurred just last Thursday, bringing the reductions to 33%. Pretty good discount, but given the work necessary to make the home habitable, even that reduction would not entice me to buy it. However, given the number of hits this property has seen in the last 24 hours on Redfin (338), maybe you should run to see it and make an offer.
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