Comparative Market Analysis for 4260 NE 50th Street Seattle, WA 98105

Transcription

1 Comparative Market Analysis for 4260 NE 50th Street Seattle, WA June, 2018 Includes seven property comparables, plus an analysis of the properties used in the current Zillow.com zestimate for this property

2 Address: 4260 NE 50th St. Seattle - This is the for sale - This is included for your reference Type of property: Tri-plex Current KC appraised value: $878,000 Lot size: 7,176 SF Structure size: 2,900 SF Location on block: Mid-block Traffic noise (KC assessor note): None Parcel #: Front view: Hospital campus / park Current owner: Peter Krause and Shannon Hughes

3 Address: th Ave NE, Seattle - Directly next door to the. Type of property: Four-plex Date sold: November 30, 2016 Price: $1,600,000 ($412 per SF) KC appraised value: $1,492,000 Lot size: 8,058 SF Structure size: NA Location on block: Corner Traffic noise (KC assessor note): None Parcel #: ZFront view: Intersection / hospital campus Current owner: Asana Homes

4 Address: th Ave NE Seattle - Just around the corner from the Krause / Hughes property. Type of property: Four-plex Date sold: September 18, 2017 Price: $1,500,000 ($347 per SF) KC appraised value: $1,255,000 Lot size: 8,300 SF Structure size: 4,330 SF Location on block: Mid-block Traffic noise (KC assessor note): None Parcel #: Front view: Nice neighboring rental building Current owner: Collz Inc.

5 Address: 4402 NE 50th Street, Seattle - At the intersection of 44th Ave and 50th St. Type of property: Triplex Date sold: April 3, 2018 Price: $1,500,000 ($895 per SF) KC appraised value: $998,000 Lot size: 7,650 SF Structure size: 3,810 SF Location on block: Corner Traffic noise (KC Assessor note): None Parcel #: Front view: Intersection / neighboring rentals / hospital campus Current owner: MetroSTRUCTURE Corp.

6 Address: 5021 Sand Point Place NE, Seattle - On Sand Point Way - Also on Sand Point Place Type of property: Tri-plex Date sold: May, 2018 Price: $1,950,000 ($1,624 per SF) KC appraised value: $858,000 Lot size: 7,875 SF Structure size: 3,880 SF Location on block: Mid-block / access to two streets Traffic noise (KC assessor note): High Parcel #: Front view: Neighboring rentals - Back view: Sand Point Way / Burke Gilman Playground Park Current owner: Blueprint Capital

7 Address: 5013 Sand Point Place NE, Seattle - On Sand Point Way - Also on Sand Point Place Type of property: Tri-plex Date sold: May, 2016 Price: $1,690,000 ($416 per SF) KC appraised value: $1,652,000 Lot size: 7,875 SF Structure size: 5,040 SF Location on block: Mid-block / access to two streets Traffic noise (KC assessor note): High Parcel #: Front view: Neighboring rentals - Back view: Sand Point Way / Burke Gilman Playground Park Current owner: Teamwin W LLC

8 Address: 5614 NE 60th Street, Seattle - Not nearly as nice a setting as Windermere Circle. Type of property: Tri-plex Date sold: March 1, 2018 Price: $1,500,000 ($429 per SF) KC appraised value: $913,000 Lot size: 6,098 SF Structure size: 3,500 SF Location on block: Mid-block 16 blocks south Traffic noise (KC assessor note): None Parcel #: Front view: Fences and rundown SF home Current owner: Isola Real Estate

9 Address: 5109 Ravenna Place NE - Extremely busy intersection Type of property: Triangle lot with old garage Date sold: December 18, 2017 Price: $1,396,000 ($1,410 per SF) KC appraised value: $488,000 Lot size: 3,763 SF Structure size: 990 SF Location on block: Corner Traffic noise (KC assessor note): Moderate 23 blocks east Parcel #: Front view: Busy streets in every direction Current owner: EBM RE 1 LLC

10 Why the comparables Zillow.com is currently using are terribly misleading: Zillow comparable: Triplex at 813 NW 63rd St. [$1,325,000] At 5,000 SF, the lot is much smaller. The property is located in Ballard. Zillow comparable: Triplex at 3900 Sunnyside Ave N. [$1,400,000] At 5,300 SF, the lot is much smaller. The property is located in Wallingford. Zillow comparable: Home at th Ave NE (Kirkland) [$1,349,950] This is a single-family home. The property is located on the other side of Lake Washington in Kirkland. Zillow comparable: Home at 2637 NW 59th St. [$1,435,000] This is a single-family home. At 5,000 SF, the lot is much smaller. The property is located in Ballard. Zillow comparable: Home at th Ave NE [$1,370,000] This is a single-family home. Zillow comparable: Home at th Ave NE [$1,311,600] This is a single-family home that s been split into eight low-cost boarding bedrooms. At 3,497 SF, the lot is less than half the size. The property is located six blocks from the noisy I-5 freeway and among other low-cost student housing. Zillow comparable: Home at 108 NE 43rd St. [$1,190,000] This is a single-family home that s been poorly divided into three small apartments. At 2,613 SF, the lot is less than half the size. The property is located just five blocks from the noisy I-5 freeway in Wallingford. Zillow comparable: Home at NE 32nd Pl. [$1,450,000] This is a single-family home. The property is located on the other side of Lake Washington in Bellevue.