Childhood Home FS in Omaha, NE.
 

Just got word Tues. afternoon that one of the fine homes my Father designed and built by procuring all materials, vendors and subcontracting all trades is up for sale in Omaha - once again. It's a 1.5 story, 1,372 SF, 50'X135' deep lot, all hardwood floors on the second and third floors - 1960 model. I missed out on putting a bid in on it by one day about 7-years ago. A guy in No. California was buying up several homes in the neighborhood at that time for rentals. Why he's selling one of his nicer homes now, doesn't make sense. It's got a private entry, garden level 1-bedroom apartment on the lower level. A real money maker as a rental. It was designed and built on the side of a hill to include three levels, containing 3 baths, and 4 bedrooms. Just a real smart use of space and floorplans. It's been nearly totally updated from the condition it was in 7-years ago at sale time, with new Pella windows on the first floor, shutters, new roof, updated kitchen to some degree - even includes a newish refrigerator and washer and dryer. Comps in the area are all older homes, poorly floorplanned, and higher priced. Asking price is $22K more than it was 7-years earlier before that much in materials had been installed in it in updates. I'm really tempted, but I think I'll pass on it, much as I'd like to either rent it out or flip it.

Your father sounds like he had a taste for quality materials, good engineering, and craftsmanship. Sounds like a house I'd like to live in.

Could be a cool house for you to buy back, especially if you think it'd be a good investment. I guess it's a pretty long distance away, though, to manage as a rental.

Well, c'mon, post up a link to the listing so we can all check it out.

MV

Looks like a decent place. Man, I sure miss having a basement.

Basements are terrific in my book especially when there's an entry door at the garden level, and interior stairs leading to the lower level. This one's versatile, I'll give it that.

There was no plan on room for a garage to be built, but a pass-through drive to a garage in the rear could be constructed on the East side of the home @ the private-entry you see in the pics. The rear yard could easily handle a garage build. There is no alley with access on these particular streets of homes.

Well, still for sale with a $5K price drop. What's transpired over the past 12-months is that the big rush of home buyers there, and across much of the Country have now got their homes.

In short, the swamp of excess homes most everywhere in the United States has dried-up. I am looking at another home to buy that is in the asking price of $237.00 per square foot right now. Insane, given it's location and design/materials & neighborhood comps. The data Nationally still says that the $1 Million+ homes are still selling well.

Why not buy the childhood home?

The home was built on a vacant lot in 1960, sandwiched between two homes built in the 1920s. Both of which have been remodeled or redecorated, one extensively then sold, the other updated then rented out. The lack of a garage, the severe slope of the street, and the main floor only has one bedroom, is what handicaps this home from resale. Of course the price and the abundance of homes still FS doesn't help either. Any money spent on a garage would not be able to be recouped, but it would make a slick, quality residence for the right family.

It's one block to the bus line, 5 blocks to what was our church, and a tad less than one mile to a old town main street type of village commercial bldgs. and businesses. An eclectic collection of various small businesses, bakery, restaurants, post office, Walgreens, funeral home, etc. When I was a youth - grocery store, fire station, butcher shop, bank, department store, dress shop, barber shop, Ford, Plymouth, and Chevrolet dealers. Those are all since gone.