Tuesday, January 6, 2009

423 Haydon Street


Here’s another overpriced home a few blocks from the plaza. Listed for nearly $1.5 million, 423 Haydon is off the charts.

According to Zillow this home was worth $360,000 in January 1999. Currently they value it at $940,000 (37% less than the listed price, and I still think Zillow’s estimate is inflated). The home sold for $650,000 in October 2003.


Assuming you had $300,000 laying around for a down payment, you would still be facing a monthly mortgage payment of $8,800 (over $100,000 a year). Add in yearly property taxes of $15,000 plus maintenance and you get the picture.

UPDATE (7/17/09): See comments below regarding the history of this home and remodeling dollars spent to rehabilitate the house. It also has sold for over $1 million, well above the Zillow estimate.

3 comments:

  1. This home was on the market for a little under $2 million in 2007 but the agent yanked the listing.

    ReplyDelete
  2. hsmith@sonic.netJuly 17, 2009 at 3:43 PM

    The house was completely remodeled from the ground up in 2003...It was an uninhabital drug den prior to that. Two houses on the property.
    Over $ 700k poured into it after purchasing out of probate for $650k

    ReplyDelete
  3. The house just sold for 1.325M

    ReplyDelete

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