Reply to Beautiful McLean home under 2. Really cool

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]That is a tear down in this neighborhood. I would be surprised if a developer doesn't buy it to tear down and replace with a 4M house. [/quote]

No, it's not.  It's a beautifully maintained mid-sized and mid-priced property for that neighborhood.  The houses that get torn down are older ramblers that aren't as nice or well kept as this, and they tend to sell for $1.2-1.5 million.  [/quote]

Midprice in Mclean appears to be more than 2 mil now :lol:   The floor for an SFH that's not in a funky location or weird small lot is around 1.5, which is where a lot of tear downs are priced.  Anything below 2 mil is on the lower end for the SFH, not midprice.  This house itself is worth around 300K, because the land it sits on is worth at least 1.5mil based on recent sales.  What can you build for 400K, a trailer?  :lol:

This is the listing of the house right next door, that's also for sale.  Back in 2023 the old house (tear down) was sold for 1.5 mil.  It's been sitting for a long time from what it looks like on Zillow, but eventually it will sell, and the builder isn't in a hurry to lower the price by much to move it.

[url]https://www.zillow.com/homedetails/1434-Waggaman-Cir-Mc-Lean-VA-22101/51752860_zpid/?utm_campaign=zillowwebmessage&utm_medium=referral&utm_source=txtshare[/url]

If you look at the sales map, there were several old properties in the area that went for higher than 1.5 for a tear down.

So, to answer the question whether this will be a tear down, it absolutely can, but you won't know.  It can go either way.  if there is a buyer who is in love with this specific lot and this area and has deep pockets, or there is a developer who can capitalize on this, it will be torn down.  The area had recent sales north of 4 mil for new construction homes.

Whether it's a shame that someone may tear it down is a different issue.  I think getting a housing structure for 400K, that's fairly spacious and not super dated and is move in ready is on the low end of pricing.  Midprice homes are in 2 millions now in the areas where new construction is over 4 mil.  
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