Brian Sparr is a licensed real estate agent based out of Walnut Creek (DRE #01831953). He is the founder of SPARRproperties and is affiliated with Keller Williams Realty. Unless specifically noted, neither he nor the company that he is affiliated with represented any of the parties or were directly involved in the transaction reported below. Unless otherwise noted, the source of information is the Contra Costa Association of Realtors MLS, which is the local multiple listing system. Information is deemed reliable but not guaranteed.
List Price: $500,000
Beds: 4
Baths: 2.5
Sqft: 2101
Year Built: 1977
MLS Description: [unfortunately, no description has been provided yet]
Listing Agent: Robert Leitao, Broker
Brian’s Take:
This is an intriguing property for a number of reasons:
#1: It’s location – the Pheasant Run area of Northgate. You’re close to Mt Diablo State Park, Lime Ridge Open Space, Northgate High School, Boundary Oak Golf Course, Arbolado Park, the Contra Costa Trail and the Encina Grande Shopping Center.
#2: It’s price – at $500k, it would be the 5th cheapest single-family home to sell in this neighborhood in the last 10 years.
#3: It’s potential. This property needs a lot of work … it’s a fixer-upper. However, there was a similar property in the neighborhood (660 Arrowsmith Ct) for sale this summer that should give an investor a rough idea of the potential. 660 Arrowsmith was a fixer property that initially sold for $610k in April. The investor who bought it proceeded to fix it up and sell it a few months later for $805k. Now, the Arrowsmith property is a larger house than 790 Covey, so I wouldn’t expect a flipper to be able to command a similar price tag in the low $800k’s … But, if a top-notch remodel is done, anything in the mid-to-high $700k’s wouldn’t surprise me one bit.
#4: The downside – the lot size. One of the biggest drawbacks for many of the houses in the Pheasant Run area is their lot size. 790 Covey Ct sits on a 4,060 sqft lot. Granted, there are trails and parks very close by, but, depending on a buyer’s desires, the small yard may be a deal-breaker.
