Cheap!

I had no clue this price even existed since 2012… Seriously… Is there a bubble of land in San Mateo that is in the Twilight Zone?

133 N Claremont St
SAN MATEO, CA 94401
Price $585,000
2 Beds, 2 Baths, 1,530 Sq. Ft.
$382 / Sq. Ft.
Redfin Estimate: $558,170
On Redfin: 4 hours

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Noise pollution from Caltrain.

Caltrain going electric should help, no???

But but but… I don’t think you’d get that price in Menlo Park. Or Redwood City even.

Doubtful… the biggest noise is the horn.

I hate horns. What’s the point of horns anyway?

To warn people and cars to get off the tracks.

We need raised tracks not horns.

Yeah… well… Horns cost $100. Raised tracks and underpasses…$100 million. But hey, this is California. Your tax dollars might very well be allocated to that if you pay off the right politicians.

But as rental, would the Caltran sound matter? I would think proximity to Caltran station will be a plus.

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Seattle has that. It makes it faster too. There’s no stopping at traffic intersections.

I think raised tracks is part of the plan for HSR, otherwise there is no way for trains to go fast.

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Zestimate®: $1,100,512
It must be tenant occupied as only one picture from outside and tax bill goes to PO BOX in DALLAS TX 75381-0490

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It’s a fixed up. Might be a good candidate for flip if you have cash and time

In mid town San Mateo there will be raised tracks and 3 grade separation points at existing crossing at 25th avenue, with 2 new crossings at 28th and 31th ave added.
Hillsdale train station will move few blocks north and will be between 28th and 31th ave.

http://www.smdailyjournal.com/articles/lnews/2016-10-10/hillsdale-station-nears-move-san-mateo-secures-another-65m-toward-caltrain-grade-separation-project/1776425169579.html

As of this Monday looks like federal grants funding for electrification of Caltrain and San Jose have been approved:
“Officials now anticipate beginning construction within 90 days and commuters starting to hail electric trains by early 2021, said Jeff Gee, chair of the Caltrain Board of Directors. - See more at: http://www.smdailyjournal.com/articles/lnews/2017-05-23/electrifying-caltrain-news-feds-announce-funding-delayed-647-million-grant-will-finally-receive-approval-allowing-modernization-to-proceed/1776425180697.html#sthash.NPxe5JkC.dpuf
http://www.smdailyjournal.com/articles/lnews/2017-05-23/electrifying-caltrain-news-feds-announce-funding-delayed-647-million-grant-will-finally-receive-approval-allowing-modernization-to-proceed/1776425180697.html

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I have been in this neighborhood, during the time I was looking for a home for my son, even the near by condos are listed more than this price.

Checked with my realtor, she then contacted listing agent. LA said this needs special financing or cash offer and that is main reason listed low. Lot of work, almost 100k, involved - see the listed pictures.

This home is very good flip, if someone has 650k to 700k cash in hand. Easy 100k profit, but may even go up to 250k, but it depends on how good they bring up. The value is for land and structure alone.

I do not know how many noticed this is a great opportunity. This is one of the best deals available in today’s market.

If someone has cash, try it out, you will definitely get a good return !

This is near by Burlingame city, Caltrain is positive for commute to SF or SJC (even though noise is there) and normally these areas are as hot as Cupertino location.

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This is most likely a multiple offer situation. Assuming the house in serious disrepair, what’s your estimate of sale price? This will be sold to contractors or flippers

There will be few hard bargain cash offers, but it will not be as crazy as other homes.

I have not seen the home and the TLC work,but guesstimate, very likely a cash flipper who can make it between 550k and 600k range. The flip work make range 50k to 100k with 3-6 months work.

If it is done, this can easily sell around 900k to 1M range. This has 2 Bath and 2Bed. If flipper can show 3Bed, 2Bath by remodel, this may go beyond 1M.

Then, you may question why it goes to 550k to 600k range when market value is so high? This home has nothing but land and structure.

Only well experienced and cash rich people alone touch this home, they deal very hard bargain as they may have many flips to work on !

Added advantage is this is very near to Caltrain station and San Mateo Downtown Area.

It’s sold for $1,000,888. Is it still a bargain at this price? Listing says 2 gas meters and 2 electrical meters. Is the buyer going to expand and make it a duplex?

It’s only 1 house and 1 street away from Caltrain track. Is noise an issue at all?

If HSR does come, will this house depreciate a lot? HSR noise could be many times worse.

I hope none of you bought it

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Reasonable for location.

Price it low, watch it go!!!

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