Acquisition: The Davis-Price House [Make a Smarter Decision]

by Osman Parvez

A heartfelt congratulations to my clients who closed yesterday on a beautiful historic home in Old Town Longmont.  

I rarely gush about specific deals, but the acquisition of 542 Collyer Street was a home run and deserves accolades. The Davis-Price House is one of the oldest dwellings on the east side of Old Town. It checked nearly every box on my criteria for smart real estate investments - a functional, attractive, well maintained house in an exceptional location with long term appreciation potential. The layout and size works for many types of buyers. The curb appeal is among the best in Old Town. It's also recognized as a significant asset to the community, having received Landmark Designation in 2004.  

The tasteful master suite addition creates generous living spaces while taking nothing away from the iconic visual appeal of the Vernacular Masonry style. The two car garage + workshop offers flexibility and additional creative possibilities. The interior with pockets of exposed brick and wooden beams compliments the beautiful exterior architectural detail. The landscaping is mature and well designed, and the street is lined with remarkable trees. Flow is excellent from inside to outdoor living spaces. 

I wouldn't have hesitated to purchase this home and live there personally and as my clients know, I am extremely selective when it comes to property selection. As a Realtor who understands fiduciary duty, I offer my honest opinion on real estate, not just for suitability but on the long term investment potential of each and every property my clients consider. This is a house to drool over. 

As far as value goes - you can't buy a run down, beat up student rental anywhere in Boulder for the price my clients paid for this house. I have no doubt it will prove a solid, long term investment. The equivalent on Mapleton Hill or near Chautauqua would have easily exceeded $1.5MM. It's a stunning value, with walkability that is better than many parts of Mapleton Hill in Boulder. Foodie restaurants, bars featuring live music, theaters, art galleries, outdoor clothing retailers, public play spaces, well tended parks, and coffee shops are all within a summer's stroll. Pan handling transients, obnoxious traffic, and crowds of boutique bag tourists are few and far between. This is Boulder 25 years ago. Given the current pace of gentrification in Longmont, I have no doubts that this was a very smart real estate decision. 

Congratulations Kelsey and Tyler on your first home. And please, call me if you ever want to sell it.  

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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

Please Note

This document contains forward-looking statements. You are strongly cautioned that investment results are subject to business, economic and other uncertainties. There are no guarantees associated with any forecast and the opinions stated here are subject to change at any time. Always consult your financial advisor before making an investment decision.