Ironboundian t1_j51cr6b wrote on January 19, 2023 at 6:41 PM

Very gorgeous except it will need a gut renovation of probably $400k

GhostOfRobertTreat t1_j51jhuh wrote on January 19, 2023 at 7:22 PM

And it won’t be worth $1 million. The highest a single-family has sold for, all finished inside and ready to move in, was $832k last year. With interest rates where they are now, it’ll be a while before any of the corner mansions break that.

Professional_Heat_73 t1_j51oaet wrote on January 19, 2023 at 7:51 PM

So I’m wondering if the ppl buying these homes over $800k are paying cash, and if they’re immune to rising rates. The house on the corner of Ballentine and Lake St just sold for $800k and is in way better shape than the house that sold for $820k on the corner of Delavan and Parker. I don’t have the answer here, but I could see a contractor paying $500-600k for this one and remodeling it.

Look at the brown house on Elwood, it sold at the start of Covid for $350k (total remodel needed); it sat for a year or so and was sold for $600k with no work being completed on it. Interesting to watch!

Ironboundian t1_j5209pz wrote on January 19, 2023 at 9:03 PM

look at those outlets IN SIDE OF the beautiful decorative molding near the floor in all of the rooms. A dead giveaway that the electrical is original knob and tube and needs to be totally gutted.

OpportunityPlayful70 t1_j5mybrn wrote on January 24, 2023 at 3:25 AM

Although I think you’re right, its possible that it could be BX; I’ve seen both installed in baseboards

gearheadsub92 t1_j52d7ll wrote on January 19, 2023 at 10:24 PM

That’s it?

I’d really love to see what it could look like in the hands of someone with 800k extra to throw at after purchase. Won’t happen, but damn it could be beautiful.