Top 10 Premiums Paid in Boulder '22 #7

As we march onward into 2023, it's worth looking back at the largest discounts, and premiums in Boulder County. 

The following was originally published on founding broker, Osman Parvez's Twitter

#7 | 3830 Carlock Dr
Acquired in April, the Buyer for 3830 Carlock paid $318K (+33.5%) over list. 

1. The comps show the following range of values for multi-level houses in Table Mesa: $860K to $1.5M. Two broke through $1.4M (2865 La Grange and 3125 Endicott), both in arguably better locations but perhaps not with the view potential. 

2. Two facts suggest this home will be a flip. It was acquired in a brand new LLC and the listing photos have been taken down. Luckily, you can still see them if you dig. These pics show the home is mostly original condition with some signs of water damage in the basement.

3. As of this writing, no new permits have been pulled for the remodel. Provided electrical and plumbing are not moved, this could still be a cosmetic flip project.

4. At the acquisition price of $1.27M, this home still has enough profit potential to be a solid investment play, but only if they're disciplined. No permits have been pulled, so work will likely be cosmetic. Expect to see if back on the market in Jan with a test the market price. Sometimes views can push the profit handsomely. Likely they'll want to find out.

P.S. 3125 Endicott was also acquired for far more than list. This introduces more risk for the flipper of 3830 Carlock. We'll be discussing that deal later in this series on Top Premiums Paid in Boulder in '22.

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. He has been a Realtor since 2005.

Osman is the 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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