Property Description as described by a local real estate firm: "Less than five minutes to the Plaza with awesome views of sunsets, city lights, Sangre de Cristos, Sandias, Atlaya. Outside living from every room. Small gated subdivision with all the houses sitting on a good amount of acreage. Great separation of bedrooms. Guest house which was added in 2006 is separately metered and has its own two car heated garage and separate driveway. The heated garage makes for a wonderful studio at 560 square feet. Another 210 square feet of space below the garage can be used for storage or workshop. Great outdoor living with hiking trails close by."
For value investors there may be immediate positive equity based on the difference between the net asking price and the property's market valuation, as suggested below.
Independent realty related websites estimate the value of this property as follows: Realtor.com ($1,758,900) and Zillow ($1,673,684). Note that these estimates are made prior to and, therefore, do not include the value of the addition of the new sunroom which comprises approximately 400 square feet.
A local real estate agency, for the 3rd quarter of 2018, identified the average price per square foot for luxury homes sold in Santa Fe, NM as $395. (For the year, 2018, a second source uses $374; Second quarter 2019 average per foot sales price was recently identified as $365.00).
At approximately 5,000 total square feet, this house and casita for-sale-by-owner could list at $1,975,000. We are asking $320/square foot.
Second Quarter 2019 Information is offered below: