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16322 Midway Street, Victorville, California 92395, Victorville, 92395 - 3 bed, 2 bath

16322 Midway Street, Victorville, California 92395 home-pic-0
ACTIVE$335,000
16322 Midway Street, Victorville, California 92395
3Beds
2Baths
1,248Sqft
13,500Lot
Year Built
1962
Close
-
List price
$335K
Original List price
$335K
Price/Sqft
$268
HOA
-
Days on market
-
Sold On
-
MLS number
HD24056302
Home ConditionPoor
Features
Good View: Desert
ViewDesert

About this home

Possibly Over-Priced:The estimated price is 18% below the list price. We found 3 Cons,6 Pros. Rank: price - $335.0K(15th), sqft - 1248(19th), beds - 3(50th), baths - 2(50th).

.This property must sell for close to listed price. It is a reverse mortgage and they have an appraisal for $350,000. Calling First Time Homebuyers and investors. Cute 3 bedroom 2 bath house that could use a little updating and TLC but it is livable as it is. The roof leaked previously but has been repaired per the occupant. This is a probate sale so submit offers. This property cannot sale for less than 320,000. Probate companies do not accept less than what is owed on the property. Please see the pictures, they tell the story of the property. Make your offer contingent upon viewing. If your offer is selected we will view the property at that time. Thank you. All information deemed reliable but not guaranteed, buyers and buyers agent to verify all info

Price History

Date
Event
Price
03/21/24
Listing
$335,000
Condition Rating
Poor
Built in 1962, this property is over 60 years old and shows significant signs of deferred maintenance and outdated features. The kitchen and bathrooms appear to be original or last renovated 30-50+ years ago, featuring very old appliances (built-in cooktop), worn laminate countertops, dated cabinetry, and older tile/fiberglass surrounds. Visible water stains on the ceiling indicate past roof issues, and carpets are worn and stained. The property requires substantial repairs and rehabilitation to bring it to modern standards, aligning with a 'poor' condition rating.
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 = 13500, living area = 1248.
Investment/First-Time Buyer Potential: Explicitly marketed towards first-time homebuyers and investors, suggesting an accessible price point and opportunity for value addition through renovation.
Appraisal Value: The property has an existing appraisal for $350,000, indicating potential immediate equity for a buyer at the current list price of $335,000.
Functional & Livable Condition: Described as 'livable as it is,' allowing for immediate occupancy or rental income despite needing cosmetic updates.
Generous Lot Size: A substantial 13,500 sqft lot offers ample outdoor space, potential for landscaping, or future expansion.
Practical Layout: The 3-bedroom, 2-bathroom configuration is a highly desirable and versatile layout, appealing to a broad range of buyers.

Cons

Highly Restrictive Viewing Policy: The requirement to submit an offer contingent upon viewing, with viewing only occurring if the offer is selected, creates a significant barrier and uncertainty for potential buyers.
Probate Sale & Firm Pricing: As a probate sale, the process can be lengthy, and the stated minimum sale price of $320,000 (with a target near $350,000) limits negotiation flexibility, especially for a property needing updates.
Condition & Deferred Maintenance: The property 'could use a little updating and TLC' and had a 'roof leaked previously' (though repaired), indicating potential for immediate and future repair costs and a need for thorough due diligence.

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