When we open this modest home to the public on Friday I think we will find there are people who will be interested in considering making an offer. There is nothing that has to be done, but plenty of opportunity to remodel from the minor to the extensive renovation. I'm not seeing this as a "tear down", but more likely a renovation opportunity. The 1800 sq ft foot print is well suited for open space facing the lake, privacy, and spacious bedrooms. A two car garage is already in place.
We arrived at the reasonable price of $575,000 by concluding the cost of getting a lot on Lake Mendota is about $400,000. Our 66 ft wide lot is definitely more appealing than the narrower lots on Middleton Beach Road, and far superior to any lot on Spring Harbor. We estimate the land value to be about $450,000. We gave the house a value of $125,000.
I'll have a summary of the work the owners contracted for to prepare the house for showings. Let me know if you want to be one of the first to visit. We can set up a showing for Friday, Saturday, or Sunday. Open house is Sunday from 1:00 to 3:00.
Tom 332-8331
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