BOULDER NOTABLE: 969 10th St | $2.3M
A Cottage Style historic home originally constructed in 1909. According to the historic inventory, features include "a shingled dormer, sash and transom windows with dentils and rusticated stone sills and lintels, and classical columns on the porch." Interior millwork looks well preserved, but the kitchen and baths were ready for a refresh.
The basement is currently a rental, and the garage was converted into studio space. The former is licensed, but given the difficulty in legally removing parking, the later may have been unpermitted. At the time of listing, the home was tenant occupied until July.
Although there are some challenges with this home, it brimmed with potential. In the short-run, the tenant occupancy could buy valuable time for the new owner to plan any necessary renovations, perhaps including a restoration of the garage space. The studio could function like a home office, exercise, or play room.
Deal notes: The home last traded hands in 2010 for only $595,000. It was listed in July and took only a month to find a buyer. It closed this month for $75K below the list price. It's unclear why it took so long to close, but if you're negotiating such a deal, remember that long closing timelines should be balanced with larger than normal earnest money at risk.
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Note: The Realtors at House Einstein did not represent the buyers or sellers of this property. Our discussion of notable sales is designed to help educate you on market conditions and make a smarter real estate decision.
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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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. House Einstein strongly recommends conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
