Pending on John Street

16 John Street, asking $3.495 million. Beautiful, 7-acre grounds, the 1932 house needs some serious updating. Owner tried for $6 million in 2012, then let it mellow until 2016 when it returned at $5.3 million. It’s been falling ever since.

This house has a lot of potential, but the fact that it went from active to pending, do not stop at contingency, suggests no building inspection which in turn suggests that ice for this house will be ending at 220 years. I hope not.

What price will it actually sell for? Hmmm. Figure land at maybe $1.8; if the buyer intends to keep the house and restore it, he’d still want to be all-in at no more than $3.5, so maybe $700,000 for the house in its current condition, for a total of $2.5?

Just a guess; it will be interesting to see the actual final price.