46 Otsego
Purchased for $449,000 in November 2001 but since remodeled, 46 Otsego Avenue is back on the market and listed for $599,000. Nothing too fancy, but what would appear to be a nicely kept little (995 square feet according to tax records) single-family home.
∙ Listing: 46 Otsego Avenue (2/1) – $599,000 [46otsego.com]

7 thoughts on “Single-Families (Asking) Under Six: 46 Otsego Avenue”
  1. A sale at asking would be a very good result here. If you adjust for inflation, $449K in 2001 is more than $550K now, so if they spent more than $50K on the renovation, this is a real loss taking inflation into account.
    It’s cute. I like it more than some of the far bigger houses featured on SS where there are remodels that are odd for various reasons. This one feels more honest, even as a simple Doelger-style house.

  2. here’s an affirmation of ‘super-city status’
    over $500/sq.ft in this location (nowhere near real sf, btw). in this global economic climate..
    let’s see the buy/rent calc on this.
    perma-bears & haters, please discuss.

  3. “here’s an affirmation of ‘super-city status'”
    I don’t need any affirmations.
    A Bugatti is a Bugatti whether you pay list or half-off.

  4. PSF is only meaningful in the context of comps and prior sales, and there’s nothing magic about $500 psf. That’s about what you’d pay for a SFH row house in the Astoria section of Queens, NY.
    P & I alone on a conventional uninsured mortgage, 20% down, would run about $2.4K/mo. Certainly not a income-generator but a nice starter.

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