8 Indian Point Lane Gets A Deal

See, now this shows how “out of it” I can be, even for my home territory of Riverside…I just loved this house and it’s location, but the market? The market said “Ehh..”

Well, they said that to its first asking price of $4,795,000, but by the time it got down to $3,495,000, I thought a deal would happen.  When it didn’t, the owners finally threw in the towel and cut to $2,495,000, and now, finally, praise be to Allah, a contract!

So what was the problem?  This is certainly one of the prime-of-the-prime Riverside addresses where someone (my client) once paid $22,000,000 just for land! But the challenge here was that despite its 1.5 acres, only about .5 was useable, the rest being wetlands.  That meant a buyer would have to work with the existing house, a perfectly nice, 1940’s colonial with dated updating.  That’s what drove the price down.

To see the listing, click on the address link below the photo.

8 Indian Point Lane, Riverside. To Gideon Fountain? A perfect place to live. But the market disagreed, all the way down to $2.495M.

4 thoughts on “8 Indian Point Lane Gets A Deal

  1. This looks to me a far better deal than 9 Miltiades recently sold for $2.65million abutting the rail. Sometimes I don’t understand the market.

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