A client of mine alerted me to the reported contract on 8 Durkin Place this morning and I’m frustrated I couldn’t sell it. Durkin’s a little cul de sac off of Linwood in Riverside, parallel to Lockwood Road, and mostly unknown – I grew up not far around the corner and I still had to use a map to find it on its first open house. This was an excellent deal, I think, because the house itself, while definitely needing some serious updating, is a good solid structure that could be made to work. I’d blow out the kitchen, chop off an unfortunate addition in the rear and reconfigure the upstairs and baths, etc., but at an asking price of $1.345, and 0.37 acres of good, flat land in the R-7 zone, there was plenty of room to put that kind of money into it and still be confident that you weren’t overbuilding for the neighborhood. This is going solely for the value of its land, and offers another example of perfectly good houses being given away – but not the dirt they sit on.
The client who saw the contract reported also saw the merits of this deal but it was just a tad out of his reach. A builder client I urged to look at the property never responded (yeah, you know who you are, chump) and other clients I’ve been working with don’t want a project. But someone did, and he’s done well snagging this one.