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Post by calgaryscrapper on Feb 12, 2024 5:38:12 GMT
Lurkingpea, I had dh take a look at the listing. He suggests the garage does not appear original to the property. (or at least the siding). The siding on the garage match some of the siding on the back of the house. The brickwork on the side of the house that faces the garage is different from the front of the house. He suggests there was an addition on the side and back of the house from the way the back looks, roofline and condition of the wood inside. He can also see two meters in the back yard. When you look at it from the back yard you can see a different roof line on the right side. The back third part of the top floor could have been an addition.
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Post by jackietex on Feb 12, 2024 6:41:38 GMT
I can't get over how ugly the rear of the house looks. I'd have to do something to give it some dimension.
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Post by workingclassdog on Feb 12, 2024 17:55:13 GMT
I'm glad I'm not the only one that hated the backside of the house. It's like they put all this time and effort into a beautiful building but then said "okay done" just chop it off here and there you go.
It seems pretty expensive before doing the work.
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Post by papersilly on Feb 12, 2024 19:32:05 GMT
right now the house is selling for $130/sq foot. very cheap. comparable sizes in my area is $1k/sq ft.
if the property values in the neighborhood can support it, i think $300-$400k would be needed to finish it. that would still put it at less than $200/sq foot. a steal IF, IF, IF the location is great.
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huskergal
Pearl Clutcher
Posts: 3,042
Jun 25, 2014 20:22:13 GMT
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Post by huskergal on Feb 12, 2024 21:00:41 GMT
I do have a question about that house why is it so flat in back is that typical I don't think I've ever seen a house like that before. It looks like it was cut in half at some point. I agree! The back doesn't seem to fit the rest of the house.
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Post by Zee on Feb 12, 2024 23:23:34 GMT
right now the house is selling for $130/sq foot. very cheap. comparable sizes in my area is $1k/sq ft. if the property values in the neighborhood can support it, i think $300-$400k would be needed to finish it. that would still put it at less than $200/sq foot. a steal IF, IF, IF the location is great. The cost of housing just pisses me off every time we have a thread like this. No, that is NOT steal for a shell of a house with no yard and it shouldn't be anywhere. No place should be $1k per square foot. I'm ready to sell and move to the middle of Mexico. Better start training my GI tract. I hear Mumbai and Peru are up-and-coming...3rd world sounds better and better all the time.
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Post by papersilly on Feb 12, 2024 23:43:27 GMT
The cost of housing just pisses me off every time we have a thread like this. No, that is NOT steal for a shell of a house with no yard and it shouldn't be anywhere. No place should be $1k per square foot. I'm ready to sell and move to the middle of Mexico. Better start training my GI tract. I hear Mumbai and Peru are up-and-coming...3rd world sounds better and better all the time.it's all perspective. when you are used to seeing $1k/sq ft homes, anything in the $100's/sq ft that looks like that on the outside with that kind of square footage seems like a dream. i agree, no place should be $1k/sq ft but it's only worth that much because people are willing/able/have no choice but to pay that much.
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huskergal
Pearl Clutcher
Posts: 3,042
Jun 25, 2014 20:22:13 GMT
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Post by huskergal on Feb 15, 2024 17:41:42 GMT
An update on this house. It is a story from the local newspaper.
To live in this Tudor "castle" in Omaha's Dundee neighborhood will take a princely sum — both to purchase and reconstruct.
The price tag is $785,000, and it will require a significant investment to finish the interior of the 6,000-square-foot duplex, which has been taken down to the studs.
"Take it to the shell and start from scratch," is what David Chan, owner of Mint Omaha, has done to the 16 homes he owns in the Dundee area. He leaves the shell intact, renovates the inside and then rents the houses to professionals expecting all the modern conveniences.
The shell of the residence at 5203-05 Chicago St. has attracted many viewers since it went on the market in early February. The building is one of five castle duplexes built in the neighborhood in the 1930s by architect Birger J. Kvenild, who immigrated to the United States from Norway and designed many homes in the area.
"It is a blank canvas for builders," said Realtor Michael Shekhtman, who has listed the property with Rusty Johnson of the Insight Group for Berkshire Hathaway Home Services Ambassador Real Estate.
Chan's approach can bring up sore feelings, he said, with some of the more conservation-minded people living in Dundee, famous for its older homes filled with historic charm.
But it's been a very successful business plan for Chan, who arrived here from Hong Kong nearly 14 years ago after tossing a dart at a map. Omaha was the closest city.
"'Warren Buffett is here. How bad can it be?'" he remembers thinking at the time and telling himself to give the city six months. "I guess I've been renewing that commitment for the past 14 years."
The feedback from the professionals who rent his homes — the price for some reaches $3,500 a month, and none are empty — is that they want modern finishes with a contemporary feel.
"We are not shy about revamping the layout for a specific need or want some of our clients are looking for," he said.
Chan had actually planned to live in this duplex himself until his banker suggested he needed some time to retrench after the frenetic pace of the past decade.
"Unless I can give it 100% effort, I don't want to renovate if I can't commit to that," Chan said. "I need a little break."
The house had been a rental for years. When Chan bought what he calls the castle in 2022, college students were living there.
He planned a large main suite on the third floor, three bedrooms on the second and an open kitchen off the living area for the main floor. After taking it down to the studs, he replaced many of the windows, although he kept the leaded glass versions on the back of the house.
Chan said he doesn't blink if the houses he purchases require a six-figure investment in mechanical improvements — things like windows, insulation, water heaters and HVAC.
Shekhtman said that's one of the bonuses in starting new. There is no outdated electrical, deteriorating sewer lines or lead water pipes hiding behind the vintage finishes.
"David comes in and strips everything down, makes everything modern and finishes them to his taste," Shekhtman said. "Beauty is in the eye of the beholder. It could be refinished with a classic look that was intended for this place in 1937."
Chan said he wishes he didn't have to sell it, but he's gratified by all the interest. Although it would cost even more, he said the wall down the center could be removed to make a massive single-family dwelling that would include a four-car garage.
Shekhtman said it also has a "million-dollar view," with many of the other homes on the block approaching that price point.
"It is in such a beautiful location and surrounded by other beautiful homes," he said. "Hopefully, we'll find the right buyer who will turn it into something memorable for a long time."
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Post by calgaryscrapper on Feb 15, 2024 19:54:15 GMT
I enjoyed hearing about and looking at this listing. I also enjoyed looking at Google Streetview for the area ![:)](//storage.proboards.com/5645536/images/MNrJDkDuSwqIMVw33MdD.jpg)
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3boysnme
Full Member
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Aug 1, 2023 13:28:26 GMT
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Post by 3boysnme on Feb 16, 2024 17:47:28 GMT
These types of posts are my favorites. I love to daydream about all the houses the Peas post.
This one is no different. I love the castle-like exterior. If I had that kind of money to play with, I'd probably buy it. I'd love to bring it back to grandeur. At first I figured it would make a great B&B, but after Google mapping it and looking at street-view, I realize there isn't enough room for all the cars to park. They could park on the street, but you'd want it to be as full as possible every day to make a profit eventually. Eight rooms = at least 8 cars unless people book two rooms...one for the adults, and one for the children. Not enough street parking either.
But still, imagine the possibilities! I would never be able to afford it, but I like to daydream.
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Post by calgaryscrapper on Feb 16, 2024 19:07:42 GMT
Interesting, when it was built it was called a Doublehouse
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Post by wezee on Feb 16, 2024 20:05:48 GMT
You are looking at a lot of work! you would have to get a reputable contractor. Plan for cost over runs. I think it’s going to take every bit of a year to finish it. With all that being taken in to consideration, the price is too steep I’d think 600,00 is where it should be.. I think you are looking at 200,000 or so to get it ready for occupancy. It’s only on a .25 acre. So the neighbor's are very close. Something I wouldn’t want for a million dollar home. Remember taxes and utilities will be very high as well. Since it’s being sold as is. Be very careful. Check everything!
Would I take it on? Yes but not at that price. It has so much potential!
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Post by workingclassdog on Feb 16, 2024 20:11:14 GMT
Wait a minute .. this house is a DUPLEX? Two houses? Or am I reading that wrong? Did I miss something?
ETA: haha apparently I DID miss something... I didn't read the details... so they are marketing as either or. Forgive me... lol
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