$625K House For Sale in Newton

[Justabystander]

Originally Posted by id77

It's also the cheapest SFH for sale in the zip code by over $200k. Someone who really wants Newton but thought it was out of their reach will take interest, despite the road noise and lousy curb appeal.

Come on. The street view on this is one of the most depressing things as far as a "neighborhood" I have ever seen. How bad do you want to live in Newton? Next to a funeral parlor, a house with a coke machine, a parking lot, an unpaved road, a huge fence bordering an expressway, and across from a book drop. No way would I even consider this, let alone live in it. They need to look at another town or a condo if that what it takes. It sold for $383k in 2005 and was listed for $899k in 2018? I would not even have paid $383K for this. Real estate is all about location, but has to be more than a zip code to have worth.

[msRB311]

I wonder if someone would buy the house and turn it into a store or something?

Plenty of people in the area probably have the cash to buy this place to turn some type of profit. It likely wouldnt be purchased by a family just dying to get their kids into newton schools.

[Japanfan1986]

Originally Posted by msRB311

I wonder if someone would buy the house and turn it into a store or something?

Plenty of people in the area probably have the cash to buy this place to turn some type of profit. It likely wouldnt be purchased by a family just dying to get their kids into newton schools.

I was thinking that too. Given everything it’s around the zoning seems to be anything goes.

Converting it into a store might be the best option. Otherwise to borrow an old carney term the seller has to wait for someone who is a mark for Newton. A Newton or die type. I wouldn’t be surprised if such people exist. Maybe that’s part of the reason it’s been contingent over the years. The buyer sees Newton is attainable but then when the rubber meets the road they see all those drawbacks plus whatever is in the inspection report and get cold feet.

[id77]

Originally Posted by Justabystander

Come on. The street view on this is one of the most depressing things as far as a "neighborhood" I have ever seen. How bad do you want to live in Newton? Next to a funeral parlor, a house with a coke machine, a parking lot, an unpaved road, a huge fence bordering an expressway, and across from a book drop. No way would I even consider this, let alone live in it. They need to look at another town or a condo if that what it takes. It sold for $383k in 2005 and was listed for $899k in 2018? I would not even have paid $383K for this. Real estate is all about location, but has to be more than a zip code to have worth.

And still a 200 sq ft shed next to route 9 sold for $315k: https://www.zillow.com/homedetails/1...56315411_zpid/

This dumpster fire is 10x that size. Someone will bite.

[msRB311]

It could easily be a convenient store, a gas station, a nail salon, etc.

[id77]

Originally Posted by Japanfan1986

I was thinking that too. Given everything it’s around the zoning seems to be anything goes.

Converting it into a store might be the best option. Otherwise to borrow an old carney term the seller has to wait for someone who is a mark for Newton. A Newton or die type. I wouldn’t be surprised if such people exist. Maybe that’s part of the reason it’s been contingent over the years. The buyer sees Newton is attainable but then when the rubber meets the road they see all those drawbacks plus whatever is in the inspection report and get cold feet.

This. The opportunity to get into a town one has wanted but thought was unattainable will tempt some to take the chance. I also wouldn't be surprised if the last offers fell through for non-inspection reasons (financing, for example).

[BosYuppie]

I bet the owners of that house are just hoping the funeral home will bite and buy the lot to expand their parking.

There were a good supply of fixer-uppers in the low sixes in Nonantum, Newton Corner, Upper Falls, usually with a caveat but not like this, as recently as 5-6 years ago. Those days are gone.. I'm not naive about inflation and it has benefitted me as a homeowner. I think the problem is more about the lack of supply/inventory. Old timers sticking in their houses, and the increased stratification of the school market leading to these disparities in the market.

Let's see what the Fed does over the next few quarters..

[robr2]

If you zoom in on the satellite view, you see it has a driveway on the right side of the house. I'm guessing it's a rental property based on a little poking I did that shows it's owned by an LLC.

If one were to check out the secretary of state's website and one can find out who owns the LLC. If one were to check out mass land records, one will find a number of properties owned by this LLC and persons. If one were to google the LLC, one will find a couple of properties owned by the LLC that recently were sold at auction. One will also find that one of the owners is recently deceased. One can make presumptions based on all of that.

[G-fused]

It may make a decent rental investment property for the right person.

[Boston_Burbs]

I think the use of interior curtainwall, didn't expect that.