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This 968 square-foot bungalow recently sold for $265,000 in west Charlotte.
What’s happening: The two-bed, one-bath located at 3020 Rush Ave. — a street name appropriate for the number of offers we imagined it would receive — only received three offers, per listing agent, Cindy Ferguson.
Why it matters: The high demand and low inventory across the city means the initial $250,000 asking price for the home is virtually unheard of. It closed after twenty days on the market.
- Yes, but: There’s a catch. The adorable home sold without a kitchen.
What they’re saying: The buyers agent, Brooke Harrelson tells Axios the owner is thrilled to have come across this house.
- “My client was extremely excited to find a brick home in a neighborhood he loves, especially with the opportunity to design the new kitchen,” Harrelson said.
Vibe: Though the lack of a kitchen could be a dealbreaker for most, the buyer didn’t see that as an obstacle considering the possibilities.
- Building a kitchen from scratch can range anywhere from at $5,000 to $125,000.
- Plus, the lush landscaping leading up to the house sets an alluring mood. Wooden ceilings and beams in the living and dining room add character to the home.
- “Not only is the buyer going to customize the kitchen, but make updates to the landscaping, as well, to bring the home to its full potential.” Harrelson said.
Zoom out: The median listing price for a house in Enderly Park is $521,600, per realtor.com.
- The estimated mortgage payment of $1,278 for this house is cheaper than the average 943-square-foot Uptown rent of $1,559.
- Enderly Park is one of the quickest gentrifying neighborhoods in the city, per the Charlotte Observer, with many of the neighborhood’s original Black residents being displaced due to the rising cost of housing.
- For perspective, a 0.34-acre lot (which doesn’t include a kitchen either) in Enderly Park will cost you $795K.
The bottom line: For better or for worse, with a little sprucing, this bungalow could reach a home value that’ll match those in the quickly-changing neighborhood.
Take a look inside.