Appraisal Packet - 1124 N Cedar St

Created by

Joshua Bernhard

Hi, Robin! Thank you for taking the time to appraise 1124 N Cedar St! This turn of the century home is updated and features an additional studio cottage on the property as well as an oversized two car garage. Unique to this home is a large primary bedroom connected to a nicely updated full bathroom. There is another bedroom and a large unfinished basement. The cottage has a small half bathroom and electricity and would be a terrific studio or office. The lot is huge and has a large 2 car (really almost 3 car) garage in the back with alley access. Other features: NEW IN 2021 - FURNACE, HOT WATER HEATER, and newer APPLIANCES. Below I have included the neighborhood info the buyer used when deciding on offer price. Thanks!

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Our Offer

Here's a copy of our offer, detailing our offer price of $531,000 and our

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Comps

Here are the four comparable properties we used when considering our offer amount. Because the subject dwelling is so unique with the main bungalow and cottage on the same lot, we weren't able to find a direct apples-to-apples comparison. All these homes are in the same general area though, within half a mile of the subject property and closed for between $524,000 and $620,000. All appear to be in similar condition to the subject property.

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Market Absorption Rates

Here is an outline of the current market conditions and absorption rate in the subject neighborhood. There are 0.00 months of supply in this neighborhood and homes are going under contract in an average five days.

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Colorado Springs Stats

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National Stats

Please give me a call if you have any questions at all! -Josh 719-200-8560