515 Race Street [Notable Sale]
The last time the home was publicly available was nine years ago. This time around, the ~’8600SQFT mansion was available for a little over two months. It sold at the asking price.
As an asset class, historic homes in premium locations with famous architects tend to hold their value exceptionally well. The seller’s 2011 acquisition cost was $3.6M. Assuming no post acquisition capital investments, the home gained about 5.8% annually during their ownership period. However, an architectural pedigree and premium location don’t guarantee return. The preceding owner acquired the property in 2008, held onto it for almost four years, and sold it for $25,000 less than their purchase price.
Historical Note
Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005.
Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. For more information, click HERE.
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Thinking about buying or selling and want professional advice? Call us at 303.746.6896. Your referrals are deeply appreciated.
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. House Einstein strongly recommends conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
515 Race Street [Notable Sale]
The last time the home was publicly available was nine years ago. This time around, the ~’8600SQFT mansion was available for a little over two months. It sold at the asking price.
As an asset class, historic homes in premium locations with famous architects tend to hold their value exceptionally well. The seller’s 2011 acquisition cost was $3.6M. Assuming no post acquisition capital investments, the home gained about 5.8% annually during their ownership period. However, an architectural pedigree and premium location don’t guarantee return. The preceding owner acquired the property in 2008, held onto it for almost four years, and sold it for $25,000 less than their purchase price.
Historical Note
Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005.
Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. For more information, click HERE.
Fresh Listings | Our review of the most compelling new listings to hit the Boulder real estate market. | Subscribe
Thinking about buying or selling and want professional advice? Call us at 303.746.6896. Your referrals are deeply appreciated.
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. House Einstein strongly recommends conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
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More about the author
Osman Parvez
Owner & Broker at House Einstein as well as primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has appeared in the Wall Street Journal and Daily Camera.
Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. Learn more about Osman.
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House Einstein
Thinking about buying or selling and want professional advice?
Call us at 303.746.6896
Your referrals are deeply appreciated.
