7407 Densmore, Van Nuys, California 91406, Van Nuys, 91406 - 3 bed, 2 bath
ACTIVE$819,500
7407 Densmore, Van Nuys, California 91406
3Beds
2Baths
1,356Sqft
6,751Lot
Price Vs. Estimate
The estimated value ($552,679.15) is $266,820.85 (32%) lower than the list price ($819,500). This property may be overpriced.
Key pros and cons
Top Pros:
Desirable Configuration: The 3-bedroom, 2-bathroom layout is a highly sought-after configuration, appealing to a wide range of potential buyers including families.
Top Cons:
Significant Overpricing: The current list price of $819,500 is considerably above the estimated market value of $552,679, indicating a substantial pricing discrepancy (-32% estimation ratio) that may deter buyers.
Compared to the nearby listings
Price:$819.5K vs avg $900.0K ($-80,499)30%
Size:1,356 sqft vs avg 1,494 sqft42%
Price/sqft:$604 vs avg $60450%
More Insights
Built in 1949 (76 years old).
Condition: Built in 1949, this property is significantly aged. The MLS listing provides no interior images or descriptions of renovations, particularly for the kitchen and bathrooms. The AI analysis explicitly notes 'Dated Condition (Implied)' and 'Renovation Potential,' suggesting the home requires substantial updates to meet modern buyer expectations. While there's no indication of structural defects or safety issues that would warrant a 'Poor' rating, the lack of recent updates means major components are functional but show clear signs of being outdated, aligning with the 'Fair' condition criteria.
Year Built
1949
Close
-
List price
$820K
Original List price
$800K
Price/Sqft
$604
HOA
-
Days on market
-
Sold On
-
MLS number
SR24222042
Home ConditionFair
Features
Good View: Valley
ViewValley
About this home
Condition Rating
Fair
Built in 1949, this property is significantly aged. The MLS listing provides no interior images or descriptions of renovations, particularly for the kitchen and bathrooms. The AI analysis explicitly notes 'Dated Condition (Implied)' and 'Renovation Potential,' suggesting the home requires substantial updates to meet modern buyer expectations. While there's no indication of structural defects or safety issues that would warrant a 'Poor' rating, the lack of recent updates means major components are functional but show clear signs of being outdated, aligning with the 'Fair' condition criteria.
Pros & Cons
Pros
Desirable Configuration: The 3-bedroom, 2-bathroom layout is a highly sought-after configuration, appealing to a wide range of potential buyers including families.
Generous Lot Size: With a 6,751 sqft lot, the property offers ample outdoor space, providing opportunities for landscaping, expansion, or potential Accessory Dwelling Unit (ADU) development, which is a significant value-add in the current market.
Valley View: The property boasts a 'Valley' view, enhancing its aesthetic appeal and potentially commanding a higher market value.
Established Location: Located in Van Nuys, an established area within the Los Angeles Unified School District, offering convenience and access to local amenities.
Renovation Potential: Built in 1949, the property presents a significant opportunity for a buyer to add substantial value through modern updates and personalization, aligning with the higher sales prices of recently remodeled comparables.
Cons
Significant Overpricing: The current list price of $819,500 is considerably above the estimated market value of $552,679, indicating a substantial pricing discrepancy (-32% estimation ratio) that may deter buyers.
Dated Condition (Implied): The absence of descriptions regarding recent renovations or major system upgrades (e.g., A/C, plumbing, electrical, kitchen, baths) in a 1949-built home suggests it likely requires significant investment to meet modern buyer expectations and compete with updated comparables.
Recent Price Increase: The property's list price increased from $799,950 to $819,500 despite a lower estimated value, which could signal a disconnect between seller expectations and market reality, potentially prolonging market time.