2005 W Norberry, Lancaster, California 93536, Lancaster, 93536 - 3 bed, 2 bath
ACTIVE$370,000$1,143/sqft
Est. Value: $348,563
-5%
AboveEstimate
2005 W Norberry, Lancaster, California 93536
3Beds
2Baths
1,143Sqft
7,247Lot
Price Vs. Estimate
The estimated value ($348,562.555) is $21,437.445 (5%) lower than the list price ($370,000). 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 = 7247, living area = 1143.
Top Cons:
Unpermitted Guest House: The detached guest house is unpermitted, posing potential legal and financial risks for the buyer, who would need to verify permits and intended use.
Compared to the nearby listings
Price:$370.0K vs avg $550.0K ($-180,000)4%
Size:1,143 sqft vs avg 2,131 sqft5%
Price/sqft:$324 vs avg $26383%
More Insights
Built in 1955 (71 years old).
Condition: Built in 1955, this home is functional and appears well-maintained, aligning with the 'move-in ready' description. However, the kitchen features older white appliances, dated laminate countertops, and basic cabinetry, while the bathrooms also show older vanities, fixtures, and tile work. The flooring is a mix of dated tile and laminate, and light fixtures are basic. While clean, the property clearly shows its age and has not undergone extensive modern renovations, requiring minor updates to kitchens and bathrooms to meet current aesthetic standards.
Year Built
1955
Close
-
List price
$370K
Original List price
$390K
Price/Sqft
$324
HOA
-
Days on market
-
Sold On
-
MLS number
IV25281395
Home ConditionFair
Features
Patio
ViewNeighborhood
About this home
Charming 1950s home offering 3 bedrooms and 2 bathrooms, move-in ready with classic character throughout. The property features a centrally located floor plan and a detached unpermitted guest house with 1 bedroom and 1 bathroom, providing potential for multi-generational living or additional space (buyer to verify permits and intended use). Conveniently located in the heart of Lancaster, close to schools, shopping, dining, and easy freeway access. A great opportunity with versatile living options.
N
NYDIA DEL RIO
Listing Agent
Price History
Date
Event
Price
09/02/20
Sold
$275,000
04/15/09
Sold
$68,000
06/23/06
Sold
$230,000
Condition Rating
Fair
Built in 1955, this home is functional and appears well-maintained, aligning with the 'move-in ready' description. However, the kitchen features older white appliances, dated laminate countertops, and basic cabinetry, while the bathrooms also show older vanities, fixtures, and tile work. The flooring is a mix of dated tile and laminate, and light fixtures are basic. While clean, the property clearly shows its age and has not undergone extensive modern renovations, requiring minor updates to kitchens and bathrooms to meet current aesthetic standards.
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 = 7247, living area = 1143.
Move-in Ready Condition: The property is described as 'move-in ready,' appealing to buyers seeking immediate occupancy without extensive renovations.
Income/Flexibility Potential (Guest House): A detached guest house offers significant versatility for multi-generational living, rental income, or a dedicated workspace, enhancing the property's value proposition.
Central & Convenient Location: Situated in the heart of Lancaster, providing easy access to schools, shopping, dining, and major freeways, which is highly desirable for residents.
Classic Architectural Charm: The 1950s build year and 'classic character' appeal to buyers looking for homes with historical charm and unique design elements.
Recent Price Adjustment: A recent price reduction from $390,000 to $370,000 indicates potential seller motivation and offers a more attractive entry point for buyers.
Cons
Unpermitted Guest House: The detached guest house is unpermitted, posing potential legal and financial risks for the buyer, who would need to verify permits and intended use.
Age of Property (Potential for Updates): Built in 1955, the home, despite its charm, may require updates to major systems (e.g., plumbing, electrical, HVAC) to meet modern standards or preferences, incurring additional costs.
Modest Main House Square Footage: The main residence offers 1143 sqft, which might be considered modest for some buyers, potentially limiting appeal for those desiring more expansive living areas.