Joining the ranks of newly reduced homes is 4085 20th Street, a modern 3,720-square-foot Dolores Heights home perched above Dolores Park, with “breathtaking views” from each of its three levels, “outstanding craftsmanship, thoughtful design and ethereal beauty,” and a two-car garage with a (new) Tesla charging station and driveway parking for three cars.
Having been rebuilt in 2014, the three-bedroom view home was listed for $4.995 million in March of 2015 and sold for $4.5 million that May.
And having returned to the market listed for $5.595 million this past July, a sale at which would have represented total appreciation of 24 percent for the luxury home over the past four years, or roughly 5.4 percent per year on a straight line basis, the list price for 4085 20th Street has just been reduced to $4.495 million with an interim reduction to $4.85 million last month.
Subsequently withdrawn from the MLS and then relisted with an “original” list price of $4.6 million and an official “1” day on the market according to all MLS-based stats and aggregate reports in January, the list price for 4085 20th Street has just been “REDUCED [an additional] $605K!” to $3.995 million, a sale at which would now represent depreciation of 11.2 percent for the Dolores Heights home since mid-2015 on an apples-to-apples versus “median price” basis.
And having gone into contract three weeks ago, prior to the COVID-19 hit, the sale of 4085 20th Street has now closed escrow with a contract price of $3.995 million, which is officially “at asking!” according to all industry stats and aggregate reports but 29 percent ($1.6M) below its original list and 11.2 percent ($505K) below the price the Dolores Heights view fetched in mid-2015 on an apples-to-apples versus “median price” basis.