Well, as promised here’s the newest series: Tear-Down Tuesday. I thought it would be fun to show you homes that are currently for sale that I think would make good flips. These homes will be in the before state, so you’ll have to use your imagination. Not all of the homes are going to be true “tear downs” but since I’m a sucker for alliterations, “Tear Down Tuesdays” it is.
Today’s Tear-Down is Stanford. Stanford looks like a solid home that “seems” to only need some updating, making it a perfect flip. ***Disclaimer: please note that I am in no way endorsing or advocating that anyone buy this home. The suggestions I’m going to give on how this property could be redesigned are based solely on the pictures. I have neither inspected or toured this house, therefore, you should not rely on my comments, ideas or suggestions in making any decisions. In short, I am not liable in any way if you buy this home and it turns out to be a money pit…though, if you do happen to buy this home, please, please, invite me over so I can check it out.
The upside to this is that if you do buy this house (which I’m not saying you should) and you flip it you also don’t owe me any money. Okay, now that I’ve covered my litigation adverse a**, let’s get to this house.
Stanford is priced at $635,000 and is listed as a 2 bedroom, 1 bathroom, 1100 sq. ft single family house. It’s in Alameda. I’m not terribly familiar with the neighborhood but most of Alameda is decent and I’ve been watching the housing prices go steadily up over the last year. Million dollar homes are becoming the norm now.
In this neighborhood, a lot of the homes that have sold or are for sale are in the low $700k. And they don’t look very glamorous. Translation=not the hottest neighborhood. But, there are very few truly bad parts of Alameda so while this probably isn’t the trendiest neighborhood it’s still probably decent.
- The sun porch may not be permitted or structurally sound.
- There’s only 1 bathroom.
- And it’s unclear how you access the bathroom.
- To add another bathroom you’d have to lose the sun porch or a bedroom.
- There appear to be 3 bedrooms but the listing only has 2 bedrooms. This suggests one of the rooms that looks like a bedroom is missing something.
A paint job and some light landscaping is all this front needs. Imagine the front porch staged with a little bench, some pots and throw pillows. Done.
Living Room & Dining Room
These rooms are pretty easy-peasy too: paint, new flooring and a stunning light fixture in the dining room.
Okay, I did these pictures before I appreciated the bathroom access problem. My suggestions on the photos assume bathroom access issues are resolved and you can keep the sun porch as a family room. If not…you’d probably just widen the opening so you have yard access and can access the bathroom.
Again, these rooms just need a little paint and some new floor action, assuming there is a hall that connects the two bedrooms off the dining and kitchen. If not, then I see two options: (1) turn one of the bedrooms (probably the one off the dining room) into a bathroom; or (2) turn the sun porch into a bathroom. I don’t love either of these ideas. In a two bedroom house, you probably don’t need a family/bonus room and most of the buyers looking in Alameda will have or likely want 2.5 kids so it seems the smarter play here is option #2.
Probably another gut job.
This yard is GI-NOR-MOUS!
Now that you see this backyard, you might be thinking “Andrea, what the hell are you thinking?! Why didn’t you suggest expanding the house into the backyard?!” First, I’d tell you “Simmer down.” Then, if I were buying this home for myself and I wanted it to be my forever home, then, yes, I would expand the house into the backyard. But as a flip and in this neighborhood, I don’t think you’d get your money back on the expansion.
Well that’s it folks. Thoughts?