Blog Fixer Just Listed - Overlook Fixer

Just Listed – Overlook Fixer

By David Columbus, June 16, 2021

Just Listed | Overlook Fixer

2116 N Alberta Street, Portland, OR 97217

Offered at $550,000 | MLS#21514457

4 bed | 2 bath | 3,140 sq. ft. | Taxes: $6,206

Rare rehab opportunity in the sought-after Overlook neighborhood near the newly expanded Adidas campus. This classic craftsman has great bones with many period details intact. Huge upside on this one. Adjacent lot to the west available too. The location is close to public transit, near many amenities and so easy to get around with a Biker’s Paradise score of 95 and Walk Score of 70.

AS-IS CASH ONLY PLEASE.

Here are the Pros of buying a fixer upper according to MSN Money:

1. Save money and land in a neighborhood that could otherwise be unaffordable

Landing a fixer-upper in your wheelhouse is a great way to save some money when purchasing a home. In exchange for taking on a project, you give yourself the opportunity to sneak into a neighborhood that may not normally be in your budget. At the same time, you can likely get more square footage for your buck.

2. Lower your taxes

Another component of cost savings when buying a fixer-upper is real estate taxes. If you buy a house that needs work, the assessed value for real estate taxes will initially reflect that, and it will most likely take a while for the city or town to catch up to your renovations. That being said, however, prepare for the taxes to jump up at some point, but you can initially save money on taxes.

3. You can customize

With a fixer-upper, you have the opportunity for personalization. Instead of paying a premium for a move-in ready home that may or may not be your style, a fixer-upper allows you to create the home you actually want — rather than someone else’s idea of a dream home.

4. You have the ability to make a profit

Another great thing about putting money and sweat into a fixer-upper is that you generally end up making a profit you go to sell, if you do decide to go that route. For example, if you buy a home for $250,000, put $50,000 worth of work into it, and do some of the work yourself, there’s a great chance that your resale value is going to be much higher than $300,000. This is why house flipping has become so popular.

Read more about the pros and cons of buying a fixer upper at MSN Money

David Columbus

Principal Broker | Earth Advantage | ADU Specialist

He/Him

As an Earth Advantage Principal Broker, David serves buyers and sellers alike with his 20+ years of experience as a broker and investor. His experience includes residential, commercial, investment property, and multi-family housing, and he specializes in historic and mid-century homes. He is a consistent multi-million dollar producer for whom smart, personalized client service is key. Over 90 percent of his ongoing business is referred from satisfied clients. In his past life, David worked in yacht delivery, delivering privately-owned classic yachts from the East Coast to the Caribbean, transatlantic, Mediterranean and North Sea; his responsibilities ranged from captain to crew. David holds a degree in Business Administration/Finance from Western Michigan University and attended the University of Nottingham, England where he studied Medieval West History and Victorian Literature. After graduating David moved to Chicago where he worked as a Eurodollar Futures Broker while teaching sailing at Northwestern University during his lunch breaks. David moved to Portland in 1999 and has never looked back. In recent history (2015), David and his partner, of 17+ years, Grant, sailed their boat out the Columbia River, turned left and headed south, exploring the Sea of Cortez and Pacific Coast of Mexico for over nine months. He is a strong supporter of the ALS Association of Oregon and SW Washington, Basic Rights Oregon, p:ear, Urban Gleaners, Oregon Wild, Habitat for Humanity, Willamette River Keepers and is a member of Vancouver Lake Crew and the Rose City Yacht Club. He is also a licensed EMT and volunteer with Multnomah County Medical Reserve Corp.
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  • T: 503-504-2421
  • davidc@livingroomre.com

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