Guess the Selling Price 40 Victor Avenue – $799,000 now $854,000 now $789,000

Rose’s old house is for sale
One Of The Most Beautiful Streets In Riverdale! Fully Renovated! Beautiful Open Concept Design, Entertainers Delight! Drk Stain Hrdwd, Grand Stone Cast Fireplace, New Designer Fixtures, Pot Light, 2nd Fl Laundry, New Windows, All New Plumbling Throughout + Brand New Undrgrd Drains To City Connection, New Wiring, 100 Amp Service, Extra High Bsm’t With Modern Bath, R/I For Kitchen & Bsm’t Laundry Rm, Separate Entrance. Bsm’t Income Potential!**** EXTRAS **** Stunning Custom Kit Antiqed Cabinetry W/Marble Counter Tops, S/S U/M Sink & Faucet, S/S Jenn-Air/Kichenaid Appliances W/GasDowndraft Cooktop. 3rd Fl Mstr Brm Retreat W/Private Sundeck &Spa Like Setting Mstr Ensuite W/Radiant Fl Heat.

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6 Responses

  1. Nice reno…for a short-term ownership/flip.

    They bought in in the sixes, and have been working since the Spring, appear to have put a lot of money in the finishes.

    Not sure it was a great investment (capital gains is gonna kill them), so I suspect they’ve either attempted to lo-bid to attract buyers, or they’re trying to get the heck outta Dodge before the economy goes “poof”. I therefore suspect that they won’t settle for anything less than 750-800. I’m guessing 785, if it sells at this pricing.

  2. $760,000

  3. The sellers will be very happy to have to pay capital gains as this means that after capital expenses they would have realized a profit. Furthermore it is possible to apply stock market sale capital losses to any capital gains. This of course is all mute if the house is/was a primary principal residence of the owners making it exempt from capital gains.

  4. SPeed: having done significant renovations of my own, and judging by the improvements listed above, I’m gonna guess their “capital expenses” were significant (let alone their carrying charges, though interest rates are quite low). There just doesn’t seem to be a whole lot of room left for profit…and plenty of risk.

    They bought and have attempted to sell inside of 6 months. This is clearly a flip.

  5. Marc: “…(capital gains is gonna kill them)…”

    SpeeD: “The sellers will be very happy to pay capital gains…”

    Marc: “There just doesn’t seem to be a whole lot of room left for profit…”

    SPeeD: “capital gains is not going to kill them because there won’t be any”

  6. This home is gorgeous!! Very well done. I’m guessing in around the mid 8OO K. Seeing how everything is updated and its pristine condition. Good job guys!

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