This home has one open question that affects price more than anything else: the electrical wiring.
There is a possibility that this home doesn't have "knob-and-tube" (K&T) wiring at all. I double-checked, and I wanted to 'fess up now … contrary to what I said on the phone, if it is confirmed K&T, most insurers and lenders will not underwrite the home, which narrows our buyer pool to mostly cash buyers and investors, which reduces what it will sell for. We can verify the wiring when we tour the property next week. Until then, I've built two clear numbers … one for each outcome … so there are no surprises either way.
The Property
Built in 1953, this is a well-kept, one-story, one-bathroom home. It hasn't been updated over the years … no remodeled kitchen or bath, no added rooms … but it's been cared for. The roof was replaced roughly ten years ago. Everything else appears original to the house.
Recommended Pricing
Two numbers, depending on what we find with the wiring:
"Net to you" is a first-pass estimate: it assumes agent commissions, Washington's excise tax, typical title/escrow fees, and no existing mortgage on the property. We'll firm this up once commission and payoff details are confirmed.
For reference, fully updated homes this size in this area have recently sold in the upper $700,000s to low $800,000s. We're not recommending a renovation given the timeline, but wanted you to see where that ceiling sits.
We looked at recent sales of similar homes nearby … same era, similar size, not updated. Five stand out:
- $555,000 20401 25th Ave NE, Shoreline Nearly identical size and age, no major updates.
- $725,000 2509 NE 178th St, Lake Forest Park Similar size, same city, freshened up but not remodeled.
- $725,000 1515 NE 190th St, Shoreline Same building era, well-kept but original.
- $650,000 18017 10th Ave NE, Shoreline Slightly larger, similar age, sold quickly.
- $640,000 15310 26th Ave NE, Shoreline Similar age and size, no major issues, sold in just 3 days.