Cheapest Seattle Homes: December Edition

Let’s check in again on the cheapest homes around Seattle proper. For methodology and a brief explanation of the reasoning behind this series, hit the April post.

Please note: These posts should not be construed to be an advertisement or endorsement of any specific home for sale. We are merely taking a brief snapshot of the market at a given time. Also, just because a home makes it onto the “cheapest” list, that does not indicate that it is a good value.

Here are this month’s three cheapest single-family homes in the city limits of Seattle (according to Redfin):

Address Price Beds Baths SqFt Lot Size Neighborhood $ / SqFt Notes
8523 Dallas Ave S $108,000 2 1 900 3,480 sqft South Park $134 Bank-Owned
11026 Park View Ave S $130,000 3 1 980 8,060 sqft Rainier Valley $133 Short Sale
11403 71 Pl S $155,000 2 1 820 5,640 sqft Rainier Valley $189 Short Sale

Here’s the current status of September’s top 3:

  1. 8523 Dallas Ave S: Still on market @ $108k
  2. 9444 15th Ave SW: Sale pending
  3. 526 S Concord St: Delisted

Stats snapshot for Seattle Single-Family Homes Under $200,000
Total on market: 34
Average number of beds: 2.2
Average number of baths: 1.2
Average square footage: 928
Average days on market: 117

Here are the three cheapest homes in terms of dollars per square foot:

Address $ / SqFt Price Beds Baths SqFt Lot Size Neighborhood Notes
4706 S Orcas St $86 $225,000 4 1 2,620 3,645 sqft Rainier Valley
9227 8th Ave S $87 $159,950 2 1 1,840 5,400 sqft South Park Short Sale
11411 60th Ave S $96 $284,900 4 2.75 2,960 9,428 sqft Bryn Mawr-Skyway Bank Owned

Three of the six homes on our two lists are in Rainier Valley, and two are in South Park. Looks like you should know what neighborhoods to target for the cheapest homes…

Here’s the last bonus: The lowest dollars per square foot on a house priced above $500,000: 322 23rd Ave E at $134 $/sqft. $549,000, 6 beds, 3 baths, 4,100 square feet. “Remodeled 1901 Farmhouse.” On the market for just under a month.

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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. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.

12 comments:

  1. 1
    Ray Pepper says:

    My offer was submitted for 30k on a bank owned. If it gets accepted, and closes on the 18th, I will provide you all pictures of the “Glory That Is.”

    Its simply put…” A little slice of heaven” every time I look at it.

  2. 2
    Lake Hills Renter says:

    I’ve noticed that the asking prices for houses in the Cottage Lake, Duvall, Carnation areas have come down noticeably in the last 6 months, to the tune of 10%+. I’m seeing many more houses in my price range than before.

  3. 3
    Neil says:

    Note the cheapest over $500K says:
    “Investors: buy this house the current occupants can lease it back from you for 10 years. True triple net lease, which means they pay all taxes, utilities, and maintenance on the property plus $2500 per month rent. An annual return of 5.5%, for ten years! ”

    So, I guess that means you can’t live in the house, sell it, or kick out the current renters for 10 years…

  4. 4

    Hate to be such a stickler, but only one of the houses on the two lists are in the Rainier Valley. Three of them are Skyway ish, the 98178 zip code, which is south of the Rainier Valley and west of Rainier Beach. The 98178 zip code is pretty diverse, and does include extremely expensive lake front homes, but it also has some of the lowest priced homes in the city, and as far as geographical convenience, can’t be beat as it’s 15-20 minutes from both downtown Seattle and downtown Bellevue.
    But Skyway does have this taint to it,and the retail strip contains pawn shops and casinos, plus gang related murders don’t help property values. But in fact the area has a lower crime rate than most of the city of Seattle, and while people who don’t live in the area perceive it as dangerous, people who do live in the area feel safe there.

  5. 5
    The Tim says:

    RE: Ira Sacharoff @ 4 – Argh. Stupid imprecise city border in Redfin.

  6. 6
    Geek says:

    It’s amazing how that remodeled farmhouse was built around.
    All of Cap Hill must be designed around it.

    :-P

  7. 7

    RE: Ira Sacharoff @ 4 – I always used to say that the crime was low in Skyway because the criminals did most of their work in better neighborhoods. ;-) (Which reminds me of a friend back in college who used to keep his wallet in the glove box of his unlocked beater car, thinking no one would think there was anything of value in the car.)

    It is a great commuting area. Lots of options on how to get into Seattle.

  8. 8
    AMS says:

    RE: Kary L. Krismer @ 7 – There’s a cop on every corner. It’s a really safe neighborhood!

  9. 9

    RE: The Tim @ 5
    I think those houses are within the Seattle city limits, just not the Rainier Valley..It’s a very uneven borderline.
    Anybody remember John Keister’s bit on Almost Live ” C’mon Down to the Rainier Valley!”?
    I can’t find a link to it, too bad…

  10. 10
    ivan says:

    RE: Neil @ 3 – Residential leases can’t be longer than one year. The tenants “can” lease it for ten years. Or, they “can” leave whenever they want.

  11. 11
    Jonness says:

    Many of these homes are listed well under their tax assessed value. If I buy a home for less than the tax assessed value, is that proof the tax assessment is above the homes fair market value? Is it grounds for a reduced tax assessment for next year’s taxes?

    Ray Pepper: So the home went to auction and will not be listed on the MLS?

  12. 12

    […] the home at 4706 S Orcas St in Seattle’s Seward Park / Columbia City neighborhood. Featured a year ago as the cheapest Seattle home per square foot, it eventually sold in March for $200,000 (even less […]

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