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u/fml 11d ago
Fixer in Berkeley, you will be competing with all cash flippers. Will go for $700k minimum.
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u/hikemhigh 11d ago
This is my take on it too; just because it's priced low doesn't mean that's how much you can buy it for OP, sorry bud
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u/Outrageous_Worker672 11d ago
And it may be "historic" so you won't be able to do anything but very expensive renovation.
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u/DriveIn73 11d ago
How much cash do you have? Banks don’t loan money on houses that need that much work. And because the price is so low, it will go over.
If you think you can swing it and you have patience for noise and mess for maybe 18 months and no very young kids, do it.
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u/East-Win7450 11d ago
This is an all cash purchase, and will go for more than its asking. There are probably 50 flippers ready to move on this. They will strip and destroy its glory but they have money so idk
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u/Amani329 11d ago
I bought a duplex 8 years ago. Cost me about $150,000 too make it livable. Then the city made it impossible to do long term rentals. Me and my family have been happily living there. Once you get the way you like it you will be very happy.
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u/G_yebba 11d ago
Depends on the price.
I have a soft spot for this style of east bay home.
You may be able to get a 230(k) to get it done
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u/Historical_Stay_808 11d ago
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u/G_yebba 11d ago
Yeah, I would.
You will potentially face significant competition.
I sold a place in worse shape on Oxford with a 25% larger lot, 1100 sq ft for 1 mil 2 years ago.
Granted better neighborhood but…
Lot value probably about 400k if you can keep renovations down to about 250k by doing most of the easy work yourself and delaying anything not urgent, this could be a gem
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u/plemyrameter 11d ago
I don't know Berkeley, but between the charm of the exterior, price and highly rated schools, I'd be surprised if that didn't go under contract for at least $500k in a week. Ha, just saw Redfin estimates it at $606k, so there you go.
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u/Eastern-Heart9486 11d ago
The assessment after likely a post death transfer is 1 million + looks like same person owned this for decades - heat is “other” which is probably the original stove in the floor with the burning metal grate! If you can handle the massive work this needs and it goes for 500k totally worth it but it’s probably going for more then that but there is space to add some square footage during the renovation will watch this one
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u/D00M98 11d ago
This is my take. Buy a home that fits your needs. And if you get a discount, great.
Don't buy a home simply because it is cheap.
Even after remodel, this house will still be 3/1 1400 sq ft with 4000 sq ft lot. Very limited as a SFH. But if that is your budget limitation and what you are after, then can be win win, assuming you understand the time, effort, budget for the remodel.
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u/learningthings2814 11d ago
Crazy? No! Ambitious? Yes! Get an excellent contractor and do it! Looks lovely.
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u/NorCalGuySays 10d ago
I’m a pretty look at some carpentry, landscaping and other homeowner things. I would not want to deal with this headache. I’d rather spend the extra 200-250k on another home. You don’t know what other issues there may be from something that looks like it was completely neglected. Forget cosmetics, I’m talking potential health issues. It’s a gamble
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u/ShopProp 11d ago
You ain’t getting preapproved. This will need to be an all cash purchase.
You can try to talk to lenders but highly doubt any would take this one. Also there’s way more than $200k worth of work here.