Two competing listings on Owenoke

A reader asked about these two Riverside houses, both listed by the same broker, Cleveland, Duble & Arnold. Here’s my take:

41 Owenoke

41 Owenoke is appraised at $1.312 million, is asking $1.735 or $$578 for each of its 3,000 square foot. Lot size is 0.40 and, in my strictly -personal opinion, I’d give it an “eh”.

25 Owenoke

25 Owenoke has 0.8 of an acre, 6,818 square feet and, at its current price of $2. 637 million, seeks $386 per square foot. Assessment is $2.584. From an original asking price (in 2005) of $4.250, I think it’s come down much closer to reality than its neighbor.

 
By way of disclosure, my brother Gideon is a co-broker on this house but I hope that, by now, readers trust me not to pull punches because of personal interest – besides, Gideon gives me nothing when I plug his stuff. Why just last summer, when my birthday rolled around ….
 
Anyway: household budgets are what they are and we can all stretch only so far but, if you have the money to buy either of these and want to live on Owenoke, I think 25 offers the better value, right now.

8 Comments

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8 responses to “Two competing listings on Owenoke

  1. Kim

    what happened to the listing on Montgomery Ln #9 that was up for $2.995. Is it still on the market?Given that #11 sold for $1.3MMwhat do you think #7 for sale at $1.745 is worth (seems like a much nicer lot)

  2. Anthony Fountain

    Don’t single Gid out. None of the rest of us gave you anything for your birthday either.

  3. Helsa Poppin

    25 Owenoke at $2.637m might be a better value than 41 Owenoke at $1.735m, but would the same buyer really be looking at both houses? I frequently think that “if only” we had another million to spend, we could get a real bargain.

    • christopherfountain

      You’re quite right, Helsa – I see these 10,000 acre spreads in Wyoming and Idaho for about what a Riverside quarter-acre costs and think, “damn” ….

  4. Renting in OG

    Big lot but not level and very little usable land in back.. lots of rocks and wetlands in the “yard” and then literally uncultivated “forest” in back – complete with half cut fallen trees. So big taxes on 0.8 acres but low “real” value on land…

    House is nice (especially the stone in front – which is beautiful and the pic doesn’t do it justice) but both inside and outside needs a lot of love in terms of fixing stuff (outside needs new paint job as there is visable rot going on and roof looks a little sketchy and inside there are non-working bathrooms and screwy electrical issues and the basement is a prime candidate for asbestos and radon…) – so lots of post-close expenses to fix it up that needs to get factored in.

    That said – if you have the money to spend to buy it and fix it up you do get a huge house with a 3 car garage (cool!) and a big plot of land you can “improve” later on…

  5. Fat Cat

    I agree 25 Owenoke does seem like a bargain. But I haven’t seen the interior, and it’s on a very busy road – not suitable for my kids to ride their tricylces on (not that my kids get away from their Nintendos and computers much). And it looks pretty set back, so I wonder how much back yard there really is (although considering some of the 0.17 acre lots in nearby OG barely have enough room for a trampolene, the back yard of 25 should be a nice upgrade – unless you are moving from Idaho or WY).

    • christopherfountain

      No, it’s a nice house, Fat Cat. Owenoke is indeed a busy street, but less so than Riverside Avenue, where I live, and this is a good house. I think it’s a good value.