A survey of Lilburn Area Deals, part III
November 19th, 2008 Categories: Lilburn
The second to last stop on the survey is a house in the low $200k range. Comps are varied for the neighborhood, but the most recent sale was over $300k… but it was a bigger house. Other recent sales were in the low to mid $200k range. This home is priced at the bottom end of the range. More interestingly is the sales price history for this home. It sold for over $300k just this summer. Previously it sold in the very high $200s and the mid $200s in 2002 and 1999. In the current market I would say that this property has between $10k and $15k in equity.
Jetted Tub in the Master Suite
The property is in pretty good condition, and is very close to move-in ready. That isn’t to say that it couldn’t use some updating, but all of the appliances are there and appear serviceable. It could use painting, but that is more because of decorator issues rather than condition. The carpets should be cleaned as well, but don’t look like they need to be replaced.
Another big plus is that this house has a full and finished basement. There is a LOT of space down there, and there could be additional bedrooms added or other value adding space like a home theater. One of the rooms would make a very nice workshop.
Kitchen, featuring the island
There is a full width deck on the back of the house that is accessible from the kitchen, living room and master suite. Speaking of the master suite, it has a wonderful bathroom with a jetted tub and separate shower. A couple of the bedrooms, including the master, feature window seats.
Vaulted ceiling and fireplace in the living room, kitchen island and giant pantry in the kitchen and a three season breakfast room are also here.
Overall, this is a nice house, although I would like to see the price a bit closer to $200k for an investor. For a primary residence, it isn’t a bad price… not a great price, but better than average.
