rps324 Posted May 20, 2007 Share Posted May 20, 2007 Better pics are coming soon. This one has been completely restored and has a good size 1 br garage apt.4441 Rusk Link to comment Share on other sites More sharing options...
TheNiche Posted May 21, 2007 Share Posted May 21, 2007 Better pics are coming soon. This one has been completely restored and has a good size 1 br garage apt.4441 Rusk WOW! You think you can get that price? Link to comment Share on other sites More sharing options...
rps324 Posted May 21, 2007 Author Share Posted May 21, 2007 WOW! You think you can get that price? Yes, The Garland Company that restores homes in there has one on Walker under contract for $310,000. By comparison this one is a bargain. This one was a Garland Co. restoration from a couple of years ago. They always do a really good job with them. My pictures don't do it justice, it really is an awesome house. All together there is about 2500 sq ft between the house and apt. The market is heating up over there. I had a 1400 sq ft house on McKinney listed for $209,900 and it went in four days for above asking price. One of the bidders I put into another one at Walker & Eddington, about 1500 sq ft, for $229,900. That one selling the first day. Link to comment Share on other sites More sharing options...
jm1fd Posted May 21, 2007 Share Posted May 21, 2007 Why are they selling it so quick? It looks like it was last sold 2/2006 Link to comment Share on other sites More sharing options...
Scharpe St Guy Posted May 21, 2007 Share Posted May 21, 2007 Yes, The Garland Company that restores homes in there has one on Walker under contract for $310,000. By comparison this one is a bargain. This one was a Garland Co. restoration from a couple of years ago. They always do a really good job with them. My pictures don't do it justice, it really is an awesome house. All together there is about 2500 sq ft between the house and apt. The market is heating up over there. I had a 1400 sq ft house on McKinney listed for $209,900 and it went in four days for above asking price. One of the bidders I put into another one at Walker & Eddington, about 1500 sq ft, for $229,900. That one selling the first day.I would second Roberts opinion that real estate is picking up on the East Side. With every restoration and new development the area is getting more and more exposure. Agents in my wife's office two years ago didn't know where Eastwood/Broadmoor/Idylwood/etc... were but now these area's are frequently coming up as the last affordable and "nice" innerloop neighborhoods. A redo on the 1500 block of Lawson sold for $143,000 a few weeks back and it's quite close to the railroad tracks. Niche time to kick your flip into high gear!!! How is it coming by the way?Regards,Scharpe St Guy Link to comment Share on other sites More sharing options...
musicman Posted May 21, 2007 Share Posted May 21, 2007 Why are they selling it so quick? It looks like it was last sold 2/2006they are trying to make their bucks now before the houston market cools off. Link to comment Share on other sites More sharing options...
TheNiche Posted May 21, 2007 Share Posted May 21, 2007 Niche time to kick your flip into high gear!!! How is it coming by the way?Slow at the moment, but I had a really lucrative opportunity come up and had to divert funds elsewhere. The tenant/coowner is able to handle most of the holding costs just by living there, so that's what she's doing. We'll build her a garage and myself an attached garage apartment in the addition, and then I'll come out of my condo in the Med. Center and lease it out to reduce my own living expenses. We'll only complete the remuddling once we're ready to sell.Actually, we're both in agreement at this point that appreciation potentials will likely be greatest if we hold it until at least 2011. By then we'll have Houston Pavilions, the Park Tower and its retail, the downtown park, possibly a soccer stadium, BRT along Harrisburg, LRT to probably Eastwood TC, possibly a Gus Wortham GC rennovation, a completed linear parkspace along Braes Bayou, and best of all, updated Census figures that reflect the rate of gentrification, which may launch Frank Lieu's retail project at Harrisburg & Lockwood. ...and if Robert can give us some more really good comps to draw from, we'll be in particularly good standing.We got in at just the right time, and what started out as a buy-and-flip is turning into a buy-and-hold. Link to comment Share on other sites More sharing options...
Scharpe St Guy Posted May 21, 2007 Share Posted May 21, 2007 Niche,Hope the new opportunity pays off well for you. It is exciting to see the changes occur in our area now, it reminds me of when I use to live over at Westcott / Washington and saw that whole area just explode from a dump to amazing infills and prices that I could have afforded at the time quickly rose to something I couldn't afford within months.Is there any new news on the LRT to Eastwood TC??? I golfed Gus Wortham yesterday and it's not a bad course. Sure it needs to be better maintained but the terrain is great along with the bayou running through it. The existing club house is a dump so here's hoping for something at least similer to what Memorial Park has currently.If you proceed to building a garage with apartment I would be interested in comparing notes. If we stay in Broadmoor and do the inner city home with lake house combo then we will be knocking down the existing garage and rebuilding and going up with an architects input to make it blend in with the existing.Anyhow all the best,Scharpe St Guy Link to comment Share on other sites More sharing options...
rps324 Posted May 21, 2007 Author Share Posted May 21, 2007 Why are they selling it so quick? It looks like it was last sold 2/2006Yes, they have not had it that long. The owners had a job transfer to New York. Link to comment Share on other sites More sharing options...
TheNiche Posted May 21, 2007 Share Posted May 21, 2007 Is there any new news on the LRT to Eastwood TC???METRO still hasn't made its final decision about LRT to Eastwood TC or into the UH campus. I give 80% odds on an Eastwood TC route.If you proceed to building a garage with apartment I would be interested in comparing notes. If we stay in Broadmoor and do the inner city home with lake house combo then we will be knocking down the existing garage and rebuilding and going up with an architects input to make it blend in with the existing.I'm using the addition to build an attached horizontal garage and a bedroom suite that is removed enough from the main house (complete with its own front door) that it could act like a garage apartment or just like another room within the house. The concept is to try and build it out so that a future owner has the flexibility to use it however they like. Once I've got that section built out, the house will effectively have four bedrooms. Ultimately I hope to knock out a wall and some small closets upstairs in order to combine the existing master and third bedrooms and a bathroom into a full master suite with walk-in closets. Then I'll repair the downstairs half-bath and open up the front porch.The concept is to be able to list it as a spacious home with 3 bedrooms, 3 & 1/2 baths, walk-in closets, a sunroom/office, and an attached two-car garage. There just aren't any older homes in Eastwood with such an updated floor plan. By using part of the addition for the garage, I can also remove the old cracked up driveway on the north part of my lot where the garage apartment used to be before it burnt down a long time ago, and then I can replat and sell the vacant backside of my corner lot to someone else. Link to comment Share on other sites More sharing options...
VicMan Posted May 22, 2007 Share Posted May 22, 2007 4441 Rusk is zoned to, in Houston ISD:* Lantrip ES* Jackson MS* Austin HS Link to comment Share on other sites More sharing options...
Dan the Man Posted May 23, 2007 Share Posted May 23, 2007 That is a very nice looking house. I especially like the upstairs sleeping porch/dormer. Link to comment Share on other sites More sharing options...
rps324 Posted May 23, 2007 Author Share Posted May 23, 2007 The dormer windows go to large walk in closets under the eaves on either side of the sleeping porch, there is also the den and second bath addition across the back of the first floor. Otherwise it appears to hold pretty true to the Sunbeam Sears plan Link to comment Share on other sites More sharing options...
Scharpe St Guy Posted May 25, 2007 Share Posted May 25, 2007 The dormer windows go to large walk in closets under the eaves on either side of the sleeping porch, there is also the den and second bath addition across the back of the first floor. Otherwise it appears to hold pretty true to the Sunbeam Sears planAppears that Robert has 2 out of 3 just listed homes in Eastwood pending sale. Well done Robert!!! How much interest did you have in both?Regards,Scharpe St Guy Link to comment Share on other sites More sharing options...
houstonmacbro Posted May 25, 2007 Share Posted May 25, 2007 Wow ... that house looks spectacular. Link to comment Share on other sites More sharing options...
OldHouseLover Posted May 26, 2007 Share Posted May 26, 2007 Yes, The Garland Company that restores homes in there has one on Walker under contract for $310,000. By comparison this one is a bargain. This one was a Garland Co. restoration from a couple of years ago. They always do a really good job with them. My pictures don't do it justice, it really is an awesome house. All together there is about 2500 sq ft between the house and apt. The market is heating up over there. I had a 1400 sq ft house on McKinney listed for $209,900 and it went in four days for above asking price. One of the bidders I put into another one at Walker & Eddington, about 1500 sq ft, for $229,900. That one selling the first day. WOW! Selling fast! Anyone know @ the Sunnylan[d] area. How's it selling. Know it is not Eastwood & pics on forum will help bring down my taxes , but honestly, is it time to sell or hold on a while longer? Link to comment Share on other sites More sharing options...
Guest danax Posted May 27, 2007 Share Posted May 27, 2007 WOW! Selling fast! Anyone know @ the Sunnylan[d] area. How's it selling. Know it is not Eastwood & pics on forum will help bring down my taxes , but honestly, is it time to sell or hold on a while longer? I live in Pecan Park, an area similar to Sunnylan(d) in terms of housing stock, and our homes still sell for 75-110. The 30s-40s house still hasn't attracted the restorers, even though I see and know of the potential, but it took awhile even for me to see that and I'm in a very small minority. The vast majority see those homes as nothing more than old, and old is bad, new is good. Wood floors are bad, ceramic tile is good. I had another conversation with a neighbor today about just that, an intelligent man, but I could not convince him to see the value in a house from the 40s. He wants to tear them down and build new. Still though, the values continue to rise. I'm sure you know that almost all of these homes sold for under $50K just around 10 years ago. Link to comment Share on other sites More sharing options...
OldHouseLover Posted May 27, 2007 Share Posted May 27, 2007 Still though, the values continue to rise. I'm sure you know that almost all of these homes sold for under $50K just around 10 years ago.Jaws would drop if I said what I paid for mine in mid 80s, but we've put in hundreds of hours of work ourselves. Trash old/build new is the thinking of most buyers for our areas it seems. I know the estimates for upgrading have been unbelieveablely high for me. I'm drawing the line for doing anything else to our house except the minimum basic repairs needed as I don't think I'll get a decent return on $$ spent even if it's done like the "glossy magazine" pages. "Lot value" seems to be the mantra. Just wish HCAD understood this. Link to comment Share on other sites More sharing options...
Dan the Man Posted May 27, 2007 Share Posted May 27, 2007 Though many '30s & '40s-era homes can be very attractive if restored properly, the restoration process is perceived to be (and can be) very expensive and irritating for the average person. Most people are not willing to go through this aggravation and expense to end up with a small house, when the same amount of money can buy a larger new house that likely has better resale value. Since economics governs the built environment in Houston, we see the obliteration of entire historic neighborhoods like West University to make way for larger homes. This is one of the key points to the success of the Garland Company - they find historic homes that have a large amount of square footage for the era in which they were built. This large amount of square footage, coupled with a magazine-worthy renovation, makes the home very attractive to the contemporary buyer who is willing to pay top dollar for a large home with good resale value close to downtown. Link to comment Share on other sites More sharing options...
rps324 Posted May 31, 2007 Author Share Posted May 31, 2007 The better pics are finally up. Should be some virtual tours later too. This one will be held open this Sunday from 2 to 4. Link to comment Share on other sites More sharing options...
Vertigo58 Posted June 1, 2007 Share Posted June 1, 2007 Though many '30s & '40s-era homes can be very attractive if restored properly, the restoration process is perceived to be (and can be) very expensive and irritating for the average person. Most people are not willing to go through this aggravation and expense to end up with a small house, when the same amount of money can buy a larger new house that likely has better resale value. Since economics governs the built environment in Houston, we see the obliteration of entire historic neighborhoods like West University to make way for larger homes. This is one of the key points to the success of the Garland Company - they find historic homes that have a large amount of square footage for the era in which they were built. This large amount of square footage, coupled with a magazine-worthy renovation, makes the home very attractive to the contemporary buyer who is willing to pay top dollar for a large home with good resale value close to downtown.If any of you have time please look at topic - Historical Third Ward. It is interesting to see/hear the parallels of whats going on just on the other side of the freeway (TSU area). Everyone makes good points. Link to comment Share on other sites More sharing options...
rps324 Posted June 3, 2007 Author Share Posted June 3, 2007 Just a reminder, this one will be open today from 2 to 4. Link to comment Share on other sites More sharing options...
millennica Posted June 3, 2007 Share Posted June 3, 2007 If any of you have time please look at topic - Historical Third Ward. It is interesting to see/hear the parallels of whats going on just on the other side of the freeway (TSU area). Everyone makes good points.Vertigo58's comment is on the money. We are having a great discussion about this issue on the Historical Third Ward thread and although we don't all agree, all are making excellent points worth discussing and debating. Link to comment Share on other sites More sharing options...
rps324 Posted November 7, 2007 Author Share Posted November 7, 2007 This one closed & the Buyer's Agent (Erin Parker w/Greenwood-King) told me the new owners are going to rent out the garage apartment. So if anyone is looking it should be coming up. I have no idea what they will be asking. Link to comment Share on other sites More sharing options...
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