Sell it Again, Sam | 441 Arapahoe Avenue [Notable Sales]


441 Arapahoe Avenue | $3.7M | Details and Pics
Listed late last August, this gorgeous luxury home is located in one of the most desirable spots in Boulder - west of 9th street. It also backs directly to Boulder Creek, perfect for dipping your toes in the water and watching the world tube by

Completed in 2015, the residence features mountain views, a patio overlooking the creek, walk-in wine cellar, strolling distance to downtown, and just over 5,000 F. SQFT. 

This property is spectacular, no doubt, but it also traded twice in three years. Let's talk about the deal. 

Due Diligence 
The location is desirable but not without challenges. Eben G. Fine Park is just up the street.  It's a popular and well-known party spot for young people, families, and transients - some of whom are known to pass out camp along the banks of the creek. Those considering this location should expect to deal with limited parking and unexpected visitors, wildlife and human, in the backyard.  

It's not pretty, but it's the truth. If your agent failed to mention the above factors, next time get a better Realtor. 

Although modern homes are attractive for many reasons, they don't anchor value like pre-war homes at a similar price point. There are a lot of trade-offs to historic homes, too. Talk to your real estate adviser for more in-depth advice.  


Deal Notes
The seller acquired the property (previous listing) in the spring of 2017 for $3.5M. During their 33 month ownership period, they undertook some light remodeling (including electrical and plumbing), but otherwise left it largely untouched. 

The seller listed the home for $3.79 M and it was on the market for a little over two months before a contract was accepted. It sold for $3.7M or 2.4% below asking, with no disclosed concessions. 

Excluding the cost of the remodel, the home appreciated $205,000 or about a 2.1% at an annualized rate. Prudent buyers should note seasonal factors, time on market, and the rate of appreciation for this end of the luxury market in Boulder.   

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Looking for our recommendations for the latest listings to hit the Boulder market? Due to MLS rules, new listings can only be shared privately.  Click HERE

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Osman Parvez  is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. 

Osman is a Realtor and primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera.

For more information, click HERE.
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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.  image credit: Étienne Beauregard-Riverin

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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.