Apparently neither the seller nor the listing agent thought it worth $25 to buy a bucket of paint and cover the “art” in this home.
Asking price: $16,000. Last sold in 2004 for $58,500.
You’d probably have to pay me—and a lot more than $16,000—to live in Omaha.
So the place was foreclosed. That makes sense. The bones look okay. The neighboring houses make me think that someone could get between $50G and $60G if restored to some decent condition. As long as someone doesn’t go crazy on renovations they could make a small return off of a flip.
Short of that, someone hard up for a lot of cash that has at least a small income could do the work themselves over a period of time and end up with a decent house that they could trade up with.
I don’t recall, Marty, have you ever lived anywhere other than the area you’re in now? I know the Midwest is boring to lots of folks, but there are nice areas in Omaha, just as there are in any larger city. Then again, too bad this house isn’t in one of them…
The listing’s immediate surroundings are better than those to the east, but not quite as “good” as those to the west (slightly larger homes, slightly newer, slightly better condition). The whole area looks blighted, at least business-wise. Still, a mile down the road to the west an old Sinclair station, complete with dinosaur logo, was still in business as of last fall.
Also, just around the corner from the listing is a fairly new Walgreen’s as well as a large, open park with a couple of baseball diamonds, tennis courts, playground equipment, and a small lake. I mention “open” because it provides relative safety, at least during daylight hours. Same can be said for the two roads that cut through it, as long as they’re not prone to “drive-bys.” Add in that there’s also a major thoroughfare around the corner as well and that the neighbors’ homes look in better condition than this one, and at least the place is well sited for an otherwise questionable purchase.
At the least, the interior provides a “challenge”… for those who actually like that sort of thing.
@Emerald63: Sheesh, totally forgot… No need to spend $25 on a bucket of paint. Just grab an old sheet or two and some thumbtacks – graffiti problem solved.
Well, I’m currently living a bit more than 100 miles east of this place and you couldn’t pay me enough to live in Omaha.
@MsWildhack: Alrighty then, looks like there’s something about Omaha that I don’t know about! >_<