Subject is located in Myrtle Trace, an age-restricted community (55+). Home is 28 years old and cosmetically dated, though listing agent believes it’s structurally sound, estimating cost to update kitchen, flooring, windows, doors, etc., at between $30K and $40K. Historically, Myrtle Trace properties adjacent water have commanded substantial premiums. The subject has a one-car garage.
102 Hickory Drive, 3 BR/2.5 baths, 1,950 GLA, Water View, listed at $129,000
Compared to Recent Sales (similar age bracket, all with a one-car garage):
|Address in Myrtle Trace||BRs / Baths
|Water View?||Sales Price||Closing Date||Data Source
|160 Myrtle Trace Dr.||3/2 – 1750||No||$120,000||08/09/2012||1119122|
|124 Birchwood Lane||3/2 – 1450||Yes||$125,000||06/01/2012||1112829|
|103 Linden Circle||3/2 – 1850||No||$167,500||11/25/2011||1113273|
|102 Bent Wood Circle||3/2 – 1650||Yes||$142,500||10/24/2011||1112896|
|140 Myrtle Trace||3/2 – 1750||No||$138,500||05/27/2011||1106351|
The transfer of 124 Birchwood Lane at $125,000 was an estate property and reportedly, the heirs were anxious to sell and thus accepted a low offer.
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Estate Owned Property
Listing Agent: Carson Hardy