Price: $990,000 ($430 per sq. ft.)
- Beds: 3
- Baths: 1.75
- Sq. Ft.: 2,300
- Lot Size: 0.32 Acres
I really like this home, its ranch design and location. Although the property is sitting on a third of an acre, the 2,300sf home is built in such a way that it maintains curb appeal and still has room in the backyard for entertaining family and guests. Its landscaping is pretty simple but very well maintained. My only complaint is the proximity to the 210fwy.
And yet, as much as I like this property in the Colorado Oaks community, I would not spend $1MM for it. It last sold for $420,000 in 1997 and if we applied the standard appreciation table…
$420,000 after 11 years
So it would take an above-average appreciation rate for this property to be worth just $800,000 today; still $200k less than the current asking price. That gives us a $347/sf valuation.
Given the location and condition of this home, I’d say $800k is a fair asking price and would definitely attract many interested buyers.