Take A Tour Of The Cheapest House On The Market In San Francisco, A $600,000 One-Bedroom Shoebox

by 10 months ago

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I’m pretty sure my parents bought the house I grew up in with a pack of Altoids and a pulse. Things have changed. And there’s no greater indicator of that than the San Francisco housing market.

According to Business Insider, a person who wants to buy property in San Fran needs a household income of $303,000 in order to afford the 20% down payment on a $1.5 million home, which is the median sale price on a home in the city.

Just a couple years ago, it was reported that people clamoring to live in the Bay Area were shelling out $1 million for small cottages that were built as temporary housing after the infamous 1906 earthquake.

A 570-square-foot home in San Francisco’s Glen Park neighborhood is all the rage now after officially becoming the least expensive house on the market in San Francisco.

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According to SF Gate, the one-bedroom, one-bathroom home at 17 Laidley St. was originally listed in March for $675,000 and sat for 146 days without a buyer. It has no backyard and no garage.

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Real estate agent Jeff Appenrodt of Laurel Realty has put the home on the market again at the new low price of $599,000, and people are losing their minds.

“We’ve been getting all kinds of activity. I’m getting calls form people down south and they’re saying hey, I can get a house in SF for $599,000 I want it now. Some people are saying I don’t even know what I’d do with it yet, but I want it.”

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For perspective on home prices in the area: a five-bedroom 4,400-square-foot home sold at 80 Laidley for $5.4 million in May 2017, and a four-bedroom at 537 Laidley sold for $3.795 million in July 2017.

For further perspective, here is a five-bed, five-bath home in Cleveland selling for the exact same price.

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This little shanty is going to go $400,000 over asking price into the seven figures and I’m going to start crying.

[h/t SF Gate]


TAGSReal estateSan Francisco