Purchased for $1,050,000 in May 2008, the single family home at 1502 Noe hit the market this morning listed for $1,195,000. Shortly thereafter, 16 28th Street hit the market four blocks away listed for $1,095,000 having been purchased for $1,003,000 in May of 2009.
The list price for 1502 Noe was quickly reduced to $1,095,000 as well.
∙ Listing: 1502 Noe (3/1) – $1,095,000 [MLS]
∙ Listing: 16 28th Street (3/2) 1,187 sqft – $1,095,000 [MLS]

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Comments from “Plugged-In” Readers

  1. Posted by Tweety

    A million dollars for that rotten kitchen (28th)?!? If I could find a way to sell crazy in this town, I’d be rich.

  2. Posted by sanfrantim

    The 1502 Noe property changed hands in 2003 and again in 2004. I remember walking through it then and thinking that it was a good location (on a corner in a nice block of outer Noe) and had potential but suffered from its small size (4 rooms), the main bedroom being a converted attic (standing room being an issue), and something funky with the backyard area. I believe it was remodeled since the 2004 sale for $850k. I think a good rule of thumb for Noe pricing these days is that we are back to 04-06 prices for unexceptional properties. If that assumption holds up, this would sell for in the neighborhood of $950 (giving some return for what it appears a pretty decent remodel).

  3. Posted by sanfrantim

    “Delisted.” The plugged-in crowd is not surprised.

  4. Posted by sanfrantim

    Meanwhile, 16 28th street went contingent quickly and sold for 1076k.

  5. Posted by sanfrantim

    Relisted, but stubbornly pursuing the same pricing strategy, at 1.095. Different result this time?

  6. Posted by sanfrantim

    Different result indeed. 1502 Noe sold for $1.11k. Apparently the market in Noe has changed. Color me surprised.

  7. Posted by [anon.ed]

    Couple more: 520 Jersey just sold for 1.85M., (1.76M in 12/06.) 314 Day 1.739M (1.749M in 2/2006).

  8. Posted by PN

    Easy, fluj — that data is a bit too bullish for this site…

  9. Posted by [anon.ed]

    I’m [anon.ed], PN. Thanks. Anyway, too bullish? Come on. They love these kind of posts. Small gains or small losses are their favorite things to dissect and show the hidden costs of. Of course, they’ll interchange “appreciation” with “investment” with “market,” as if they’re all synonymous. They’ll act as if houses can’t depreciate over six years or so, and pretend you didn’t notice … but hey that’s their thing. But no. They love this stuff.

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