477 Day
With the 1,058 square foot single-family Noe home at 489 Day selling at 3 percent under asking for $875,000 this past February, it’s probably safe to assume the 1,068 square foot (according to tax records) 477 Day is priced to attract “multiple offers!” at $659,000.
Regardless, we think it’s worth noting if you’re looking for perfectly livable Noe Valley homes under nine (and assuming 477 truly is a cosmetic fixer as advertised listed of course).
∙ Listing: 477 Day (2/1) – $659,000 [MLS]
Sorry NAR, But No [SocketSite]

26 thoughts on “One Day In Noe Under Nine (And Another Listed Under Seven)”
  1. to “attract multiple offers” should be replaced with “to attract any offer”. Noe is increasingly desperate.

  2. I ride my bike around here all the time, this is a great little neck of the woods. I wouldn’t mind seeing pics, but I imagine that despite its location it has no view and possibly low light in general due to surrounding trees.

  3. to “attract multiple offers” should be replaced with “to attract any offer”. Noe is increasingly desperate.
    I’m a bear, and even I think that this place sells quickly with multiple offers at this price.

  4. This is priced to go way over asking. Will be watching this one closely. Good neighborhood, every person price, SFH, reasonably sized lot etc. The only unknown is the condition of the home. If this doesn’t break well into the 700’s it’s a true sign the SF market is in trouble.

  5. Yeah, sure, it may get bid up but we have NO IDEA what it’s like inside, and I see some hints that it may not be so pleasant. All we know is that it apparently has new plumbing and electrical and the location is good. Other than that, the nicest way the realtor can describe it is “dated”!
    Plus, I really want to know how something can be a “perfect” fixer!

  6. Down the street, 328 Day (2/1, 1,386 sq.ft.) appears to be in trouble; a NOD was filed on April 1, 2010. And around the corner, 543 30th Street (small 2/1 on a wedge shaped lot) got hit with a NOTS on Feb. 18, 2010. Originally bought for $665k in 2005 with not quite 100% financing.

  7. “to “attract multiple offers” should be replaced with “to attract any offer”. Noe is increasingly desperate.”
    I’d buy it tomorrow for this price

  8. 4175 [Cesar Chavez] is a 2006 to 2010 apple that just sold for 3K more than previous.
    [Editor’s Note: And $72k (6%) less than in 2005 ($1,175,000). Both times “over asking” on a list price of $989,000, but in 2010 it had originally been listed for $1,149,000 before being reduced below a million to attract attention.]

  9. At risk of offending someone, I find it difficult to understand the rationale of paying 700k and up for an unimaginably small house that must have the feel of living in a coffin. Its exterior is as plain, generic and unattractive as houses in SF get and the garage opening is so narrow that anything larger than a mini would have to fold their side mirrors just to get in. To boot, the lack of interior photographs in the MLS is a dead give away it needs major work. I say pack up and move to the suburb where that money can get you into a far nicer home within an hour of commute from the City…

  10. @outsider: well, I’m not offended but I don’t think you’re looking at the big picture. Keep in mind some of the following:
    This house is 2 blocks from the J Church, and 1/2 block from the 24 bus.
    It has a south facing yard, on a very quiet small street. the houses on the street are all in good shape, all fixed up. It probably has some skylights so it’s not as dark as you imagine.
    You can most likely add a full 3rd floor with some great views, and add 2-3 bedrooms and bath. Many houses on that street have done just that. It has great potential..
    Many people abhor the suburbs, and who wants to get on the packed 101 or 280 for an hour commute each way every day?
    This will [sell] for way over, trust me.
    BTW, I live near by and it’s a great neighborhood.:)

  11. Noearch: Agree with your points except trying to add onto an existing structure to that scale is simply not financially feasible for most unless you have a lot of cash as no lender will finance the cost. If you do have the resources, than you wouldn’t be looking at a tiny house to begin with unless it is with the intention of making a quick profit. I was in a similar situation many many years ago trying to stay in the City while contemplating on raising a family. It just couldn’t be done. Besides, your neighbors may not particularly care for a larger house next door overlooking their yard and blocking the light…

  12. Well, three doors up sold for $875k in Feb. It had a new or new-ish kitchen and a perfectly move-in-able interior. Anybody care to figure what re-doing this spot, possible deferred maintenance and all, to that sort of shape might cost? If it’s less than $225k, then this is a deal. More, not so much.
    It is an impressively low price. Lot value might have been more at the peak. We certainly saw some dogs go for well north of this. What a somewhat sobered market will think of this, in less than stellar condition, we’ll find out soon enough.
    I’m certainly curious.

  13. While not a great comp 324 Day sold in June (a year ago) for 770k as a started gut and remodel, it had a foundation poured, stucco stripped out side and back and bottom expanded. Financing was obviously harder, if possible but I feel it was further along than starting an expansion or another level on this prop. I think one could have walked out with a nice 3/3 for under 1m. So whats everyones guess on this rehab?

  14. “…I find it difficult to understand the rationale of paying 700k and up for an unimaginably small house that must have the feel of living in a coffin…”
    Outsider: A little over the top don’t you think? This home is 1058 square feet. Compact no doubt but definitely workable for a couple, or a couple with a small child. Most of the homes built in this era have fairly gracious living / kitchen spaces. The bedrooms and bathrooms do however tend to be on the smaller side. This is not for you if you’re looking for lots of square footage but many people will value the location over the extra space you will get outside the city. If this home is in decent condition I suspect it’s going to sell for substantially over asking.

  15. “If it’s less than $225k, then this is a deal. More, not so much.”
    Hahaha. Based on noearch’s assessment of building a third floor with an extra bath and two + beds, this is a fantasy in this city. That said, good luck bidders!

  16. schlub,
    I think they are talking about 2 different things. The $875K price of a remodeled but still small house near by vs. doing a big addition. The interior remodel could be done for $225K, the big build would be $900K.

  17. I previewed this Tuesday for some clients looking for a fixer. It’s a fantastic block (tree-lined, quiet, close to MUNI, restaurants and the community center), but the floor plan is choppy and the garage has sub-standard ceiling height in the rear. It’s also below grade and there’s an odd addition behind (above) it. So, there won’t an easy or cheap expansion within the building envelope.
    Still, it’s priced below lot value and it was swarming with Realtors, contractors and potential buyers. An offer date has been set for next Tuesday and I predict 6-10 offers.
    I hope the buyers remain level-headed and go into this with their eyes open. I think it’s true value is in the mid to high $700’s, but I’m afraid it might go higher.

  18. Sorry, but all you negative thinkers need to be a little more open minded..and more upbeat.
    Of course, remodeling is never “easy”, but always possible. It’s never “cheap” but in most neighborhoods a good investment. This house is no exception. I have done a number of similar 3rd floor remodels in Noe.
    It’s in a great neighborhood, great street, south facing yard and a decent starter property. In my rough estimation, you could do a lot for about $500k: 3rd floor addition of about 800-900sf, new kitchen for $60k, remodel exist bath for $25k, structural upgrades, new lighting, plumbing, electrical.
    Yes. you would go thru 311 Notification for the addition, but many houses on this block of Day St. have done that without much difficulty. You would capture some nice views from the new 3rd floor.
    Again, as a residential architect, I never emphasize the normal challenges and difficulties to remodeling. I focus on the possibilities and rewards. This little house has great potential.

  19. Anyone who has seen the property know how big the garage is? The door looks super small. Wondering if a regular sized car can fit in there.

  20. Well, I measured the garage door. It’s 7’6″ wide. normal door is 8’…but this won would work for a normal car…You could also, during the remodel, just widen the opening to 8′ or more..

  21. Anyone know where did ended up, looks like it has disappeared off MLS indicating that this is now off the market.

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