Guess the Price Round 6: “Ready to Shine” in Fremont

It’s already time for another new round of “Guess the Price.” Here’s how the game works. I’ll describe a home that’s currently on the market, giving you as many pros and cons as I can, and you guess what the final sale price will be when/if it sells.

Be sure to enter your real email address into the form when you leave your guess in the comments, because the winner gets a $25 gift card to the restaurant chain of their choosing. Don’t worry, I’m the only one that can see the emails that are entered. The winner is the person whose guess is closest to the final sale price, above or below. If there is a tie, whoever guessed closer to the correct closing date will be declared the winner.

Contest closes to entries at midnight the morning of April 22nd, or when the home goes pending, whichever comes first. Note that last time the home went pending just a few hours after the contest opened, so get your guesses in early!

4214 Midvale Ave NToday’s “Guess the Price” guest star is 4214 Midvale Ave N in Seattle’s Fremont neighborhood.

This round’s home hit the market yesterday with an asking price of $415,000. This is not the first time it has been for sale in the last few years—it was originally listed in September 2011, had a couple of price drops, and was delisted in December 2011. The market today is quite a bit different than it was in late 2011, so I suspect they’ll have better luck this time. There is an open house scheduled for this coming Sunday for those of you who would like to go check it out in person.

The home is neither bank-owned nor a short sale, and it’s not a flip. In fact, the last sale was long enough ago that it doesn’t even show up in King County’s online records (which go back through sometime in the early 1980s). It sits in the northeast corner of Seattle’s Fremont neighborhood, where the median price of single-family homes sold in March was $492,000. Here’s an excerpt from the listing agent’s description:

Sweet location and charm galore. Bring your paintbrushes and roll up your sleeves-this home is ready to shine.

4214 Midvale Ave NBuilt in 1923, this 1-story home (with basement) sports 3 bedrooms, one full bathroom, and one three-quarter bathroom. The main floor has one bedroom, the other two are in the basement. The three-quarter bathroom is also in the basement. According to the King County Department of Assessments, 860 of the home’s square feet are above ground, with an additional 760 in the finished basement.

The exterior of the home appears to be in decent condition, though there appears to be some wear on the front porch steps. The yard is small, but well-kept. Off the rear of the home there is a good sized deck, but it’s not covered and the wood does look somewhat weathered. There’s also a small storage shed in the back yard. The listing claims there is “off-street parking,” but there is no garage, and no driveway is apparent in any of the photos or Google’s satellite view.

4214 Midvale Ave NInside, the paint job looks somewhat new. The wood trim that surrounds most of the windows and doors also appears to be painted. The hardwood floors appear to be in good condition, but the linoleum in the kitchen is a somewhat dated pattern. Heating appears to be provided by both a central forced-air system and supplemental baseboard heating evident in many of the rooms.

The kitchen is a simple, narrow, single-counter layout, with tiled countertops. Cabinet space appears to be somewhat limited, and there does not seem to be a dishwasher. The dining space is at one end of the kitchen, and is currently staged with a small two-person table. It looks like fitting a table much larger than that would be difficult.

4214 Midvale Ave NThe main floor sports a wood stove. The basement appears to have slightly short, but adequate ceilings. Windows throughout the basement let in a decent amount of light.

Overall, this home looks like it has been decently maintained throughout the years, although there are not many modern updates (e.g. appliances, kitchen cabinets, heating, etc.). The asking price is slightly lower than what other similar nearby homes have been selling for, so they may be looking for a quick sale. There are just 5 houses for sale in all of Fremont right now), so chances are they’ll get their wish.

Summary of 4214 Midvale Ave N

  • Pros
    • desireable location
    • reasonably well-kept
    • nicely manicured lot
    • garden shed
    • large deck
    • not on a busy street
  • Cons
    • no garage or driveway
    • kitchen and dining room are small
    • dated kitchen, no dishwasher
    • limited counter space
    • short ceilings in basement
    • baseboard heating throughout

So, what say you? How much will this home sell for, and when will it sell?

  

About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

70 comments:

  1. 1
    Dave0 says:

    I’ll go with the “Zestimate” of $440,000. Closing on May 17th.

    Rate this comment: Thumb up 0

  2. 2
    The Tim says:

    RE: Dave0 @ 1 – Speaking of Zillow, it’s interesting to note that if you were house-hunting on there, you wouldn’t even know that this home is for sale.

    [Update: It finally appeared on Zillow, a full day late.]

    Rate this comment: Thumb up 0

  3. 3
    brady says:

    You should change the address in the text to 4214 Midvale.

    Rate this comment: Thumb up 0

  4. 4
    The Tim says:

    RE: brady @ 3 – Argh, I did a search-and-replace, but somehow missed that one. Fixed. Thanks.

    Rate this comment: Thumb up 0

  5. 5
    brady says:

    $435k, closing May 9th

    Rate this comment: Thumb up 0

  6. 6
    doug says:

    485,000 close may 16

    Rate this comment: Thumb up 0

  7. 7
    Tim McB says:

    445k closing May 6th.

    Rate this comment: Thumb up 0

  8. 8
    kevin says:

    $425K, May 10th.

    Rate this comment: Thumb up 0

  9. 9
    ray pepper says:

    Biscuit says 418k. closing June 7

    Rate this comment: Thumb up 0

  10. 10
    Erik says:

    418k, closing June 8

    Rate this comment: Thumb up 0

  11. 11
    wreckingbull says:

    $455K, closes May 19th. My favorite Seattle home feature! The 7 1/2 floor basement:

    http://www.youtube.com/watch?v=T2Y7oo3iB40

    Rate this comment: Thumb up 0

  12. 12
    murrcat says:

    419,000, closing May 17

    Rate this comment: Thumb up 0

  13. 13
    Anita says:

    I hope it sells soon! $453,900 on June 7th.

    Rate this comment: Thumb up 0

  14. 14
    Kristian says:

    $427k, May 25th.

    Interesting that we all guesses so far are above list.

    Rate this comment: Thumb up 0

  15. 15
    Chris F says:

    $452
    May 25

    Rate this comment: Thumb up 0

  16. 16
    Seattlejo says:

    $405k June 3

    Rate this comment: Thumb up 0

  17. 17
    mike says:

    $442K, may 20th.

    Closing in less than a month? Maybe if this was a developer special, but it seems unlikely a OO buyer with a mortgage will close that fast in this environment.

    Rate this comment: Thumb up 0

  18. 18
    Steve says:

    $422k on May 11th

    Rate this comment: Thumb up 0

  19. 19

    $486K May 1

    Rate this comment: Thumb up 0

  20. 20
    nize says:

    421k closing may 13

    Rate this comment: Thumb up 0

  21. 21
    seabyer says:

    $420K closing on May 21st.

    Rate this comment: Thumb up 0

  22. 22
    Goose says:

    430k closing May 14

    Rate this comment: Thumb up 0

  23. 23
    Erik says:

    RE: Erik @ 10
    This is like the price is right, and i bid 1 day over. :)

    Rate this comment: Thumb up 0

  24. 24
    Joe says:

    420,000 closing may 1

    Rate this comment: Thumb up 0

  25. 25
    Scott says:

    $415k, closes May 17th

    Rate this comment: Thumb up 0

  26. 26
    Saulac says:

    $445K, May 20th.

    Rate this comment: Thumb up 0

  27. 27
    David B. says:

    I think that kitchen is actually quite nice, especially the vintage tile counters. Much better match for a house that age than some über-modernized monstrosity with granite counters. I’d want to replace the 80s-tacky vinyl with linoleum, however.

    Those old tile counters have the great design feature of having a lip on their edge — spills stay on the counter, instead of making a mess all down the face (and often backside as well!) of the cabinet doors and onto the floor. And there’s no lip between the sink and the counter top, so water from draining dishes ends up in the sink (period counters tend to be built to slope slightly towards the sink). Big win.

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  28. 28

    I think I just heard my dog say ” 424,500. Closes May 13th”. Or maybe she said ” You got chicken?”

    Rate this comment: Thumb up 0

  29. 29
    mmmarvel says:

    $452K, closing on May 3.

    And down here in Houston you’d be lucky to get $60K for the house – my goodness people.

    Rate this comment: Thumb up 0

  30. 30
    mike says:

    RE: mmmarvel @ 29 – Yep, few people would move to Houston just to be close to the city. It’d probably sell for $10K in Detroit for a similar reason.

    Rate this comment: Thumb up 0

  31. 31
    Jose says:

    $435K – April 30th

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  32. 32
    minitheden says:

    436 May 17th

    Rate this comment: Thumb up 0

  33. 33
    Drone says:

    $420K June 6

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  34. 34
    Jonness says:

    Asking price ($415K), closes May 18th.

    Tiny granny house if I ever saw one. Hey kids, after spending a small fortune on this miniature troll house, you get to sleep in the basement. Yippee!

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  35. 35
    Jonness says:

    By mmmarvel @ 29:

    $452K, closing on May 3.

    And down here in Houston you’d be lucky to get $60K for the house – my goodness people.

    That’s about what it would be selling for if Bernanke had not printed up all the funny money. And he continues to print at the rate of $1 trillion/yr. Scary stuff.

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  36. 36
    Brem says:

    $457,000 closing May 16th

    Rate this comment: Thumb up 0

  37. 37
    David B. says:

    And since this is a guessing game: $461 K, April 31.

    Rate this comment: Thumb up 0

  38. 38
    Blurtman says:

    RE: Jonness @ 34 – Please, no pointing out the naked emperor.

    Rate this comment: Thumb up 0

  39. 39
    Ron says:

    $466 on 5/2. Living a super high quality of life costs big bucks in that neighborhood, apparently. No need for a car. Plenty of local culture and the best of everything in your local markets. You can walk to your sailboat and visit hundreds of islands without being exposed to open ocean. It’s a few hour drive to world class skiing and backpacking/mountain climbing and you’ve got a top university and library system. Progressive politics, lot’s of jobs, and spectacular views all over town. Why wouldn’t young high-wage earning couples want that? they do…

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  40. 40
    Eden says:

    465,000 closing May 4th

    Rate this comment: Thumb up 0

  41. 41
    Emilio says:

    $475,000. Closing on 5/30.

    Rate this comment: Thumb up 0

  42. 42
    Beau says:

    $435k on May 17th.

    Rate this comment: Thumb up 0

  43. 43
    condoseeker says:

    $433,000 closing May 24

    Rate this comment: Thumb up 0

  44. 44
    David Losh says:

    RE: Blurtman @ 38

    I met a guy, who knows a guy that thinks the thing will sell for $225K in 2014.

    Rate this comment: Thumb up 0

  45. 45
    whynot says:

    $451,000
    Pending, April 18th
    Sold, May 10th.

    Rate this comment: Thumb up 0

  46. 46
    No Name Guy says:

    Definitely a person with a tax exemption – check out the taxes on Zillow. Lower to mid 3000’s up until 2010, then 1200 that year and again in 2011.

    In keeping with my cynical view of prices on the last one, I’ll go with a bidding war where the “winner” gets it for 465,000, but it’ll take a wee bit of time to get to close, so call that June 1.

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  47. 47
    Purrponius says:

    466k 5/10/13

    Rate this comment: Thumb up 0

  48. 48
    KC says:

    $449K – May 21

    Rate this comment: Thumb up 0

  49. 49
    DW says:

    $429

    Rate this comment: Thumb up 0

  50. 50
    Azucar says:

    $415,000, May 23

    Rate this comment: Thumb up 0

  51. 51
    Carl says:

    Hey Tim:

    You seem to have Everett and Seattle north of ship canal covered pretty well in your guess the price houses. How about showing some love to other areas? Eastside? West Seattle? South Seattle? Kent/Auburn (gasp!!)?

    Rate this comment: Thumb up 0

  52. 52
    Xizor says:

    $421, 500. Settlement May 27th. It is just a small one bedroom with a basement next to Aurora.

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  53. 53
    ARDELL says:

    I find it interesting that no one is comparing to this home recently sold that shows at the bottom of the page on this listing. Do people look at “the comps”? Not saying they are equal, but reasonably close in type and size and very close in proximity.

    http://www.redfin.com/WA/Seattle/4224-Midvale-Ave-N-98103/home/120371

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  54. 54
    HappyRenter says:

    RE: Jonness @ 34
    I totally second Jonness. Also, from the photos it is not clear whether the bedrooms in the basement have windows. They probably do, but not much of a view probably. All basements of homes of that era that I have visited in Seattle are musty. Would you really want your kids to sleep there? It will still sell, asking price or above, just because it’s a crazy time. Like any house in North Seattle, you are paying for location and not value of the house itself. Whether it’s a smart choice, that probably depends.

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  55. 55
    HappyRenter says:

    By Ron @ 39:

    $466 on 5/2. Living a super high quality of life costs big bucks in that neighborhood, apparently. No need for a car. Plenty of local culture and the best of everything in your local markets. You can walk to your sailboat and visit hundreds of islands without being exposed to open ocean. It’s a few hour drive to world class skiing and backpacking/mountain climbing and you’ve got a top university and library system. Progressive politics, lot’s of jobs, and spectacular views all over town. Why wouldn’t young high-wage earning couples want that? they do…

    This is all correct. But you don’t necessarily need to throw close to 1/2 million dollar on a farm-style house when alternatives exist in exactly the same area!

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  56. 56
    Ron says:

    Where, exactly?

    Rate this comment: Thumb up 0

  57. 57
    Jay says:

    It has baseboard heat. That is gross.

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  58. 58
    redmondjp says:

    RE: Jay @ 57 – The type of heat is immaterial, as the new owners will be so cash-limited that they will turn on the heat as little as possible . . .

    No guess from me, I think everybody else has it covered.

    I almost went to look at a house with an EIGHT car garage today – only $615K and just east of Redmond. Wife didn’t want to, as she correctly ascertained that both of us would come home and be depressed about our humble adobe . . .

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  59. 59
    kfhoz says:

    By Jonness @ 34:

    Asking price ($415K), closes May 18th.

    Tiny granny house if I ever saw one. Hey kids, after spending a small fortune on this miniature troll house, you get to sleep in the basement. Yippee!

    It is wonderful to sleep in a basement like this one that has windows above ground. It stays cool in Summer, warm in Winter, and is quiet. We looked for that feature in our recent house search.

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  60. 60
    Peter Witting says:

    Baseboard heat IS gross. But I second kfhoz about the downstairs bedrooms. When it is hot in Seattle, skip the air conditioning and hang out in the basement. Cool in the summer and cozy in the winter. Also, very quiet, with no street noise.

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  61. 61
  62. 62
    HappyRenter says:

    By Peter Witting @ 60:

    Baseboard heat IS gross. But I second kfhoz about the downstairs bedrooms. When it is hot in Seattle, skip the air conditioning and hang out in the basement. Cool in the summer and cozy in the winter. Also, very quiet, with no street noise.

    Ok, but in order for it to be cozy in the winter, you need to turn on that “gross” baseboard heat ;) The rest is personal taste. I prefer to be hot in the (short Seattle) summer than damp in the (long Seattle) winter.

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  63. 63
    HappyRenter says:

    “Bring your paintbrushes and roll up your sleeves-this home is ready to shine.”

    It sounds like this house needs some work done before moving in. I’m curious how much it would cost, assuming that one would hire a contractor to do the work.

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  64. 64
    The Tim says:

    [Update]

    As of noon on Tuesday 4/16, this home is pending, so the contest is now closed to entries.

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  65. 65
    mike says:

    By HappyRenter @ 63:

    “Bring your paintbrushes and roll up your sleeves-this home is ready to shine.”

    It sounds like this house needs some work done before moving in. I’m curious how much it would cost, assuming that one would hire a contractor to do the work.

    Most of the people shopping for these lower priced older homes are planning to DIY for most of the simple repairs and updates. If not, they’d be looking at either a newer town home or spending requisite $600K+ on something truly move in ready.

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  66. 66
    Peter Witting says:

    RE: HappyRenter @ 62 – I have to agree about the long damp winters. My preference is for gas heat over electric baseboard, that’s all….

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  67. 67
    Scott says:

    Wow, just noticed this home sold for $450k on May 21st — quite a jump from the $415k asking price.

    @ #48 KC was almost spot-on with a guess at $449k closing on May 21st.

    Owners probably owe Tim a dinner for the extra exposure, lol.

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  68. 68
    Tim McB says:

    Congrats KC. I echo Scott’s point on the extra exposure though I imagine it would have been a feeding frenzy anyway.

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  69. 69

    […] weeks ago we launched our latest price-guessing contest: Guess the Price Round 6: "Ready to Shine" in Fremont. Forty-two readers made guesses this round before the home went pending on April […]

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  70. 70

    […] the morning of September 23rd, or when the home goes pending, whichever comes first. Note that in Round 6 the home went pending in 4 days, and in Round 5 it was just a few hours after the contest opened, […]

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