CFAH

Purchased for $2.325 million in May of 2018, the already “amazing” single-family home at 4540 20th Street, a “prime Eureka Valley location” with views, a “chef’s kitchen” and a private “outdoor oasis,” was subsequently further improved, with a new internal stairway connecting the home’s top two floors, an upgraded primary bedroom suite, and a further remodeled kitchen.

Having returned to the market listed for $2.5 million last month, a sale at which would have been just 7.5 percent above its 2018 price, prior to being improved, the list price for the three-bedroom home at 4540 20th Street has now been reduced to $2.375 million, a sale at which would be 2.2 percent above its 2018 price but below its cost basis when accounting for the cost of its post-2018 remodeling.

If you think you know the market for remodeled single-family homes, now’s the time to tell.  Keep in mind that the widely misrepresented Case-Shiller index for single-family home values in “San Francisco” is up 48 percent over the same period of time!