1245 Fleming Avenue, San Jose, California 95127, San Jose, 95127 - 2 bed, 2 bath
ACTIVE$1,359,000
1245 Fleming Avenue, San Jose, California 95127
2Beds
2Baths
1,601Sqft
19,895Lot
Price Vs. Estimate
The estimated value ($949,637.305) is $409,362.695 (30%) lower than the list price ($1,359,000). This property may be overpriced.
Key pros and cons
Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 19895, living area = 1601.
Top Cons:
Condition of Existing Structure: Described as a 'Fixer Handyman Special,' the current 1952-built home requires extensive renovation or is a likely candidate for demolition.
Compared to the nearby listings
Price:$1.36M vs avg $1.06M (+$294,000)71%
Size:1,601 sqft vs avg 1,388 sqft62%
Price/sqft:$849 vs avg $80357%
More Insights
Built in 1952 (73 years old).
Condition: Built in 1952, this property is explicitly marketed as a 'Fixer Handyman Special' and a 'Developer's Dream,' with the listing stating that 'Value is in the land.' The exterior images show significant deterioration and a complete lack of maintenance. The absence of interior photos, particularly of the kitchen and bathrooms, strongly suggests these areas are in original, severely outdated, or unlivable condition. The property analysis also notes it 'requires extensive renovation or is a likely candidate for demolition,' aligning perfectly with the criteria for a tear-down where the structure is beyond practical repair and its value is based solely on the land.
Year Built
1952
Close
-
List price
$1.36M
Original List price
$1.66M
Price/Sqft
$849
HOA
-
Days on market
-
Sold On
-
MLS number
41112043
Home ConditionTear down
Features
Good View:
View-
About this home
SB9 Lot Split Opportunity. Fixer Handyman Special. Current home is 1601 sq ft plus full basement. Remodel or Build your dream home, family retreat, develop the parcel with multiple homes. Flat lot near San Jose's East Foothills, Alum Rock. Developer's Dream. Large 19,895 sq ft lot, .46 Acre. Potential to subdivide, build multiple homes. Value is in the land.
Condition Rating
Tear down
Built in 1952, this property is explicitly marketed as a 'Fixer Handyman Special' and a 'Developer's Dream,' with the listing stating that 'Value is in the land.' The exterior images show significant deterioration and a complete lack of maintenance. The absence of interior photos, particularly of the kitchen and bathrooms, strongly suggests these areas are in original, severely outdated, or unlivable condition. The property analysis also notes it 'requires extensive renovation or is a likely candidate for demolition,' aligning perfectly with the criteria for a tear-down where the structure is beyond practical repair and its value is based solely on the land.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 19895, living area = 1601.
Development Opportunity: The property offers significant development potential, explicitly mentioning SB9 Lot Split opportunity and the ability to build multiple homes, making it a 'Developer's Dream'.
Expansive Lot Size: Features a substantial 19,895 sq ft (.46 Acre) flat lot, providing ample space for subdivision or a large custom build.
Prime San Jose Location: Located near San Jose's East Foothills and Alum Rock, offering a desirable and strategic position within the city.
Favorable Topography: The flat lot simplifies construction processes and potentially reduces site preparation costs for new development.
Land-Centric Value: The primary value of this property lies in its land, making it an attractive investment for those looking to develop rather than occupy the existing structure.
Cons
Condition of Existing Structure: Described as a 'Fixer Handyman Special,' the current 1952-built home requires extensive renovation or is a likely candidate for demolition.
Age of Property: The existing residence, built in 1952, is significantly aged and likely does not meet contemporary living standards or energy efficiency requirements.
Recent Price Adjustment: A notable price reduction from $1.659M to $1.359M may indicate previous overvaluation or market resistance, potentially affecting perceived value.