Does this home make for a smart purchase? Based on this criteria, and the points below, we believe so!
Since 2016 the zip code where this three-bed, two-bath home in Oakland is located has experienced a higher home price growth than 73% of zip codes in the Bay Area. Additionally, the neighborhood has appreciated more than the city overall over the last 5 years, at +40.09% for this neighborhood versus +21.15% for the city. This suggests there should be steady growth in value in the future. The property also recently had the sewer lateral replaced, taking care of a relatively high-cost item.
Although the property is only in the 53rd percentile of living space on the block, we expect the final price per square foot will be more than 20% below the median for similar homes nearby, leaving room in the budget for improvements. This combination of historical price appreciation in the zip code and neighborhood, recently completed lateral replacement, and expected sale price per square foot makes this a ZeroDown 'Smart Value' Hot Pick.
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