Belle Haven - how much do you think these renovations cost?
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Anonymous
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Bought for $1.05M in December. Full refresh, including kitchen and windows and at least one bathroom. Now listed for $1.495 (down from $1.75 in case anyone wondered whether the market was shifting).
https://www.redfin.com/VA/Alexandria/1901-Belle-Haven-Rd-22307/home/9762219 There's clearly a premium on someone else having done the renovations, but nearly 500K feels like too much. (Also what is on the floor in photo 14??) |
Anonymous
| We looked at this when it was on the market pre-reno. The lot is on a super busy corner and the driveway is basically the back yard (and accessed via the busy road). It’s a great house but this price feels high for the specific lot location. |
Anonymous
Hard to say without knowing the condition of the home before the renovations... but we have friends that live in Belle Haven and that neighborhood can command a surprisingly high cost. But this is a terribly lot, right on Belle Haven Road - and that will have a huge impact on the market value. |
Anonymous
| Terrible location. |
Anonymous
| The location is awful. |
Anonymous
Yeah if I have $1.5 million to spend why would I choose to live directly on a loud intersection? |
Anonymous
You absolutely can't use this listing to determine if the market is shifting. We live nearby so know the location/house well. This is a truly horrific location - on an incredibly busy corner. The traffic backs up on fort hunt road multiple times/day. On top of that, this is truly the cheapest/saddest flip I've seen in a long time. The cabinets are off the shelf, the light fixtures are big box, cheap. It's really bad. For the location, I think they overpaid in december. I'm not sure what it's worth b/c no one I know who is looking in the neighborhood would even look at something in that location. |
Anonymous
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From $1.05 to $1.495 in short time is likely a 100-125% markup on the cost of the renovations. Here's the thing. They didn't do so much, but it still could have cost a bundle depending on the contractor. My guess is that they put in $150 (on the very low end) to $200 (not implausible) and marked it up. The signs:
Kitchen is basic white shaker. Cost depends on the quality of the cabinets and appliances more than anything. It's not uncommon to see quotes for cabinets at $45K (which is criminal given the underlying cost). Then add all the fixtures, finishes, labor, plumbing and electric and you can easily get close to $100K if you're not careful. Landscaping. Hopefully they hired a cheap team. Bathrooms - the vanities and fixtures are all very cheap looking Paint - this is max $40 inside and out. Flooring - depends on the contractor and state of the subfloor. Anyway, without going into more detail, YES, they are just flipping to make fast profit on someone who wants a move-in-ready house. New roof - it's not a huge house, but depending on the roofer would somewhere in the neighbor |