I’ve been very investment-minded lately. As in…where can I buy cheap, put in a little bit o’ work, and add a lot of value for resale? Here are a few properties that seem to fit the bill:
534 Magoffin, unincorporated SoCo – This 1954 bungalow will be overlooked by most buyers because it only has 1 bedroom & 1 bath in 879 square feet. Also no basement. But it’s freshly updated, sits on .92 acres near pricey newer homes, and has a 960-square-foot garage (!), so yes, there’s definitely potential here. Especially if the price is right. Listed by Lisa Grus, Premier Realty, for $139,900. (The agent’s website says $149,900 but the price just dropped today.)
565 Lodge, Crestwood – It’s hard to see the diamond shining through in places like this, where the MLS pics are awful and the seller’s stuff seems to take up a lot of space, but this 1961 ranch is worth a look. I love the big brick hearth and the original kitchen cabinets but I also know that a very similar house with a better yard sold recently for $170k, so that’s the range I’d want to be in here. 3+2, 1504sf, $187,000. Listed by Angela Courtwright, Prudential Select.
1331 Clarkson, Ellisville – Don’t let the bland carpet scare you away! The decor of this 1953 ranch may be kinda meh but the location and the lot size make this one a definite contender. It sits on nearly a half acre in prime West County, on a private street with only a handful of homes. There’s also an open floor plan, a groovy finished basement and a driveway/parking pad that could probably hold 15 cars! 4+2, 1446sf, listed by Kelli Ewen, RE/MAX Select, for $189,900.
4148 Connecticut, Tower Grove South – When I look at this big ol’ 1913 house in South City, I have mixed emotions. Half of me wonders how in the world I could maintain 3839 square feet, but the other half thinks it would be pretty cool owning three rental units just a few blocks from Tower Grove Park. Or keeping it all to myself, including the 1/4-acre lot and funky studio addition with observation tower! I’m not sure. All is know is the $150k price tag certainly has me intrigued! Listed by Fritz McAvoy, McAvoy Realty.
1008 Barton, Soulard – This one is definitely all about location. If you can look past the depressingly neutral interior and imagine something with a little more life and color, this 1901 chalet-style house could actually be a real find. The large shed could be converted to a garage, and the double lot could be your own private compound – all within walking distance of parks, restaurants and all the other goodies found in Soulard! And the hops aroma is free! 3+1, 1350, listed by Joan Curbow, Keller Williams for $115,000.
If you’d like a buyer’s agent to show you any of these fixer-upper vintage houses, give me a call!