Daly City Rocking The Overbids

dalycity

#21

DC is one of the cities I was not able to do CMA based on square feet (or public data). It varies a lot based on what’s happening downstairs (if there is). And how crowded the streets are, there are some streets so crowded that it is quite a turn off for future tenants too. And also where it is located (view of cemetery / where in west side of skyline blvd).

One thing I know was last year, there are one or two houses that are being sold at 1M & 1.05M where majority were in 825K - 900K range, now that range move up about 100K today and where one or two houses being sold around 1.15M & 1.2M like that 1.17M house, I have no idea why that one sold that much other than I know that it was arrogant Listing Agent.


#22

Clock hasn’t technically started yet so I got time. My buyer is flexible too, so that is why we did what we did and not go to open market. Well, maybe he might still email me but I am not holding my breathe.


#23

The amount over is not as impressive I think than the size of this house right?


#24

And it’s on the OTHER side of john daly too.


#25

#26

94014 side is much less desirable and Ardendale side has a lot of fog.

Daly City has no rent control and people have moved here, and San Bruno and ssf due to the fact of being priced out of SF. The detached factor also helps


#27

This one rocked the underbid:

Asking 1.1M. Sold for 1.068M. On the SF side of John Daly too. What’s the deal?


#28

What the guess on this one? Asking almost on the top dollar, and yet, pending in 1 day. Seller might making good chunk of change in just 4 years.


#29

Changing title to: daly city rocking the underbid

i think listing agent original list for 999 then change to 1.1. most likely he’s looking for something around 1.05 ish…
how come no picture on the inside? did you check out the condition?


#30

Come on, keep the perspective…Daly City home(s) selling for 1M…that is itself earth shattering as it is!!!


#31

There were pictures. The agent just took them off. I am surprised that it got sold more or less the same as the following property:

The interior of the latter looks horrendous. Maybe the Westmont property is too close to the ocean.


#32

How much can a remodeled 3/2 unit rent for in the area? I would guess $3500, total will be $7000 for the duplex. If it is sold at $1m, cap rate is not bad.


#33

Oh, these are original stuff there. you’ll need a full remodel of the house. gonna cost $$$$. I’m sure picture looks better than it is.


#34

Yea, you can probably get around $6500 for the whole house. My guess is it is at least 1.1M. If I were seller, why would I accept that fast to my asking price in this market.


#35

How is this area? what is the discount for the fog? Both in price and rental income?


#36

This house not easily seperate complete top/bottom, stair to upstairs is from inside.
yes fog, but it also has ocean view. Some blocks in that area is less foggy. skyline drive is one of the busier street and foggier street in that area. It’s right across from an elementary school so parking is a plus.


#37

I think with some work we can make it separately rentable. I see the potential. So the discount for fog is not that much compared to st.francis heights area (close to the freeway 280/eastmoor ave)?


#38

Couple of houses from St. Francis that got sold yesterday with 1.1M, I think 1.05 - 1.1 is new norm there.


https://www.redfin.com/city/4636/CA/Daly-City/filter/sort=hi-price,property-type=house+multifamily,max-price=1.5M,min-beds=1,include=sold-1mo,viewport=37.69572:37.66987:-122.46368:-122.50384


#39

Nice big one with a nice number = a healthy 1.23M!!!


#40

Here come the flip: