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.
205 Peoria St Daly City, CA 94014
205 Peoria St Daly City, CA 94014
Price: $280,000
| Beds: | 1 |
| Baths: | 1 |
| Sq. Ft.: | 750 |
| $/Sq. Ft.: | $373 |
| Lot Size: | - |
| Property Type: | Single-Family Home |
| Style: | Bungalow |
| Year Built: | 1917 |
Last sales:
Nov 18, 2008 Sold $410,000 -12.4%/yr Public Records
Oct 27, 2005 Sold $615,000 33.4%/yr Public Records
Jul 30, 2004 Sold $430,000 16.1%/yr Public Records
Dec 03, 2001 Sold $289,000 6.5%/yr Public Records
Here is another home that’s cheaper than 2001 and more than 50% off its peak. It looks like quite a fixer, and it is still priced above the median price per square foot of Daly City. This is probably not a surprise but it was also financed 100% by loans in 2005.
1 APPIAN Way Unit 714-5 South San Francisco, CA 94080 – Why you should stay away even though it is cheap.
1 APPIAN Way Unit 714-5 South San Francisco, CA 94080
Price: $140,000
| Beds: | 1 |
| Baths: | 1 |
| Sq. Ft.: | 720 |
| $/Sq. Ft.: | $194 |
| Lot Size: | - |
| Property Type: | Condominium |
| Year Built: | 1979 |
| Stories: | 1-3 (Low Rise) |
This is another troubled property in the ill fated Colina Condominiums. I’m wondering if the major structural damages have been repaired or not, but undoubtedly the hefty assessment fees they wanted pushed quite a few people into foreclosure. The lesson here is to stay away from these condos if you want to live.
2626 WESTMORELAND Ave Redwood City, CA 94063
2626 WESTMORELAND Ave Redwood City, CA 94063
Price: $229,900
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 850 |
| $/Sq. Ft.: | $270 |
| Lot Size: | 2,625 Sq. Ft. |
| Property Type: | Detached Single Family |
| Year Built: | 1988 |
| Stories: | 1 |
| View: | Neighborhood |
| Neighborhood: | Dumbarton |
Last sale:
| Apr 18, 2006 | Sold | $589,000 |
Loss if sold for asking: $359100 or 61%
This little shack is currently owned by HSBC. It is incredible that someone actually bought this for $589k a few years ago. This is not exactly in a good neighborhood.
1519 DAY Ave #D San Mateo, CA 94403
1519 DAY Ave #D San Mateo, CA 94403
Price: $325,000
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 660 |
| $/Sq. Ft.: | $492 |
| Lot Size: | - |
| Property Type: | Condominium |
| Year Built: | 1961 |
| Stories: | 1-3 (Low Rise) |
| Neighborhood: | Lakeshore #1 |
| County: | San Mateo |
Last sales:
| Aug 17, 2006 | Sold | $440,000 | 16.4%/yr | Public Records |
Loss if sold for asking: $115,000
This is a short sale in San Mateo. My husband used to rent a very similar looking one bedroom apartment in Belmont for $1200 a month. So I think this condo is still too expensive with a price to rent ratio of 22.5 and an HOA of $337.
721 PORTWALK Pl #2703 Redwood Shores, CA 94065
721 PORTWALK Pl #2703 Redwood Shores, CA 94065
Price: $485,000
| Beds: | 2 |
| Baths: | 2 |
| Sq. Ft.: | 850 |
| $/Sq. Ft.: | $571 |
| Lot Size: | - |
| Property Type: | Condominium |
| Year Built: | 1987 |
| Stories: | 1-3 (Low Rise) |
| View: | Neighborhood |
| Neighborhood: | Boardwalk |
| County: | San Mateo |
Last sale:
| Mar 07, 2007 | Sold | $545,000 |
Loss if sold for asking: $60,000 or 11%
Brand new listing that’s close to Oracle. This might be good for a single person, but it is still overpriced since the median price per squarefoot in Redwood Shores is under $500 now.
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