131 BELMONT Ave Redwood City, CA 94061 – Also Available for rent for $950 a month
131 BELMONT Ave Redwood City, CA 94061
Price: $499,000
| Beds: | 1 |
| Baths: | 1 |
| Sq. Ft.: | 610 |
| $/Sq. Ft.: | $818 |
| Lot Size: | 3,876 Sq. Ft. |
| Property Type: | Detached Single Family |
| Stories: | 1 |
| Year Built: | 1925 |
| Community: | Central Park |
Last sale: May 10, 2005 Sold $630,000
This tiny little cottage is still asking for half a million, which makes it over $800 per square foot. I wonder if the owner noticed that it’s NOT in Atherton. The funnier part about this is that it is available for rent for $950 a month. Let’s do some math here. Suppose you put 20% down and finance $400,000 at 5% over 30 years, you’d have to pay about $2150 for mortgage plus another $400 a month for tax. So, why would anyone buy this if they wanted to live here? It might help the seller to remove the fact that it’s for rent because it just emphasizes how ridiculous of a decision it is to buy this home. Additionally, the listing is probably keeping renters away because potential renters would fear that they can be kicked out once the home sells to some sucker.
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How do you check to see how many times a property has been listed in Redfin? How do you check if they have lowered the asking price?
Thanks!