A three bedroom house in Lewisham is raising eyebrows with its advertised price guide of $850,000 – almost $1m less than the current suburb median.
The period home at 14 Cook St is in need of a fix up but appears to be in reasonable condition compared with other “blank canvas” homes currently listed in the inner west.
The circa 1920 built property has a crumbling carport wall and a cracked driveway while a few large cracks can be seen in the interior of the home.
Unlike other careworn properties listed in nearby Marrickville and Newtown for less than $1m, the Cook St house features intact ceilings and plasterwork as well as carpets.
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It also has a renovated bathroom and an original yet well-maintained kitchen.
Selling agent Namir Mikha from Adrian William said the property was priced according to its location, size and need for renovation, which included needing to fix some termite damage.
He said the house was sloping slightly on one side and it had been recommended in the building report that a structural engineer conduct an inspection to determine the cause of the internal cracks.
“The property is positioned between two major roads and it needs a lot of work,” he said.
He said renovated homes in that part of Lewisham were selling for about $1.1m-$1.2m and market feedback indicated the mostly original property was likely to fetch about $850,000 – $935,000 due to its condition.
It goes to auction November 12 at 9am.
While needing extensive work to fix it up, the condition of the house is relatively sound compared with a two bedroom house in Marrickville listed through the same agency for $950,000.
Also thought to be built in 1920, 35 O’Hara St has exposed walls and floors as well as stripped away ceilings but comes with DA approved plans for an extension and renovation.
A two bedroom cottage-style terrace in Newtown listed through Ray White IW Group Newtown is also in need of extensive renovation.
The ramshackle home at 25 Gibbes St comes up in a real estate.com.au search of inner west homes under $1m however selling agent Greg Haimandos said a price guide wasn’t available due to the lack of comparable properties in the same condition.
Photos from the listing show the facade of the home has sagged on one side while massive cracks and water damage with mould adorn the front living room.
The dining room beyond has a gaping hole in the ceiling while upstairs the main bedroom has a floor to ceiling strip of plasterboard removed, revealing a damp timber wall stud underneath.
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