Monstrosity on 25th street

[Hoss]

Conan, I'm sure you have researched the area well, but my memory of the area is that it was built over a coal strip mine. That means you should check for Radon for sure. Otherwise, a really fine addition of well built custom homes.

Wrong side.  The coal mines were built closer to the southwest of the corner of 21st and Yale.  Wedgewood is northeast of that intersection.

EDIT:  Did some more research and it does appear Wedgewood is in the middle of an old coal mine.  So AM may have a good point.

[Conan71]

Very much appreciated, guys.  That will be a part of the inspection for certain, though it's a slab and not crawl space.  Glad you guys pointed that out.  At one time there was concern of a huge sink hole opening up in the vicinity due to previous mining activity but it was eventually de-bunked.  Seems like that was closer to 25th & Darlington though.

[DTowner]

It's somewhat hard to determine values in this neighborhood as a lot more knockdown/rebuild activitiy is moving toward Harvard.  Financially, probably would have been better to knock down the old house, split the corner lot and build two spec zero lot line McMansions.  For the asking price of this house, most potential buyers are looking at new construction with a lot more square footage. 

[Red Arrow]

Conan, I'm sure you have researched the area well, but my memory of the area is that it was built over a coal strip mine. That means you should check for Radon for sure. Otherwise, a really fine addition of well built custom homes.

And, as always around here, check for major cracks in the slab.

[Conan71]

And, as always around here, check for major cracks in the slab.

Thanks for the tip.  I'm pretty wary of such issues as we had major structural issues in one of the houses I grew up in. 

Not so much as a stress crack in the garage slab, no separation issues with the veneer at the corners of the house, no door alignment issues, drywall cracks around windows, etc.  They did an amazing job on engineering and pouring the slab from what I can tell.  There's quite a bit of carpet throughout (a good portion of which will be exchanged for hard flooring of some sort prior to move in).  Regardless, I'm getting a full structural on it.

For a 55 year old Tulsa house, it's in amazing condition.

[Red Arrow]

Thanks for the tip.  I'm pretty wary of such issues as we had major structural issues in one of the houses I grew up in. 

Not so much as a stress crack in the garage slab, no separation issues with the veneer at the corners of the house, no door alignment issues, drywall cracks around windows, etc.  They did an amazing job on engineering and pouring the slab from what I can tell.  There's quite a bit of carpet throughout (a good portion of which will be exchanged for hard flooring of some sort prior to move in).  Regardless, I'm getting a full structural on it.

For a 55 year old Tulsa house, it's in amazing condition.

55 years, probably a few years before major cheapness.  Slabs can be done right but typically aren't.

[Conan71]

55 years, probably a few years before major cheapness.  Slabs can be done right but typically aren't.

I agree.  I was shocked when I saw the garage floor, usually the best evidence of movement on a property when they have extensive floor covering.  Since it was custom-built, might have something to do with it.  Let's see what the inspections say before I give it too glowing of an eval!

[heironymouspasparagus]

Nah, 1960's model single wide with old tires on the roof parked sideways, and a mid 70's Camaro in the yard with an A frame engine hoist holding the engine from the car.  

Tear it down and put in the 1958 Wedgwood III by Palace....Royal living....  first row, right in the middle....

https://www.google.com/search?q=1958+mobile+home&newwindow=1&client=firefox-a&hs=EdC&rls=org.mozilla:en-US:official&tbm=isch&tbo=u&source=univ&sa=X&ei=wYzgUtqLEY3JsQSCqYLIBw&ved=0CCYQsAQ&biw=1199&bih=593&dpr=1.5#imgdii=_

[heironymouspasparagus]

Conan, I'm sure you have researched the area well, but my memory of the area is that it was built over a coal strip mine. That means you should check for Radon for sure. Otherwise, a really fine addition of well built custom homes.

I lived in a place near 11th and Pittsburg - it was a strip mine at one time.  Was told by a guy who had been there since the 40's that the mine went all the way up to Roger's High School area...

[heironymouspasparagus]

Very much appreciated, guys.  That will be a part of the inspection for certain, though it's a slab and not crawl space.  Glad you guys pointed that out.  At one time there was concern of a huge sink hole opening up in the vicinity due to previous mining activity but it was eventually de-bunked.  Seems like that was closer to 25th & Darlington though.

Have it checked for radon....one of the kids brought her geiger counter around to several family members houses and did a quick check.  Found a little bit in all of them...very low levels.  Sometimes a lot of radioactivity around coal and oil.

[Gaspar]

I agree.  I was shocked when I saw the garage floor, usually the best evidence of movement on a property when they have extensive floor covering.  Since it was custom-built, might have something to do with it.  Let's see what the inspections say before I give it too glowing of an eval!

Many people don't realize, especially first time young homeowners, that the soil around and under your foundation has a lot to do with its stability.  Many homes built decades ago may have no foundation changes until an unexperienced homeowner is introduced into the mix for a few years.  Reason, being that consistant soil moisture levels around slab homes is important.  For instance, if you opt not to irrigate your lawn, gardens, and soil surrounding your slab walls for a season or two, the soil can dry and contract, only to expand and erode when heavy rains return.  The result can be significant.

We owned a 30 year old home for about 6-7 years.  It was built very well, with no structural concerns what so ever.  We sold the home to a young couple and as expected the inspections on the house were sterling.  About 4 years after they moved in, they suffered cracks in the mortar, patios, garage, and under the slab in the kitchen, causing a water line to crack, and some expensive repairs.  They contacted us and asked about any history, but we could offer none.  I drove by and realized that they let my once lush fescue lawn become bare soil and sparse bermuda.  They also pulled out the azaleas and other beds to replace them with pebble, succulent, stonecrop, and Texas sage. They had obviously been attracted to the zeroscape fad, and wanted a low- or no-maintenance landscape.  They ultimately learned that the foundation damage was caused by a combination of soil contraction and soil erosion from not maintaining soil moisture levels.

Fortunately my father constantly hounded me about such things when I bought my first home, but many first time homeowners don't get this information.  If anyone is a realtor, adding some information to a new homeowner "welcome" packet would probably be appreciated and very helpful.

[Mvp53]

The renovation at 2753 South Gary Dr is a beautiful property.  The design and quality was very well done and someone more interested in those criteria will purchase the home. It's on a large corner lot and the craftsmanship throughout the home is very good.  Overpriced?  Maybe.  I analyzed the area within a 1/2 to 3/4 mile radius around the property and there's another renovated home just north of this one that actually is much higher per square foot.  The remaining recently sold and/ or homes for sale are running anywhere between $160-200 per ft. The home just across the street sat three years before selling 100k less than the 583k asking price but is now estimated (average) back at 583k. The high end of the estimate on Zillow (admittedly just one resource) is 698k or $233 per ft.  One could argue the home at 2753 S Gary could be valued between 428k and 512k.  Regardless of all of the analysis, the home is ultimately worth what someone is willing to pay for it.  If you believe that more and more properties are going to be updated, then the ultimate buyer should make his money back and then some.   Let's not forget that larger square footage and a larger lot don't equate to quality or guarantee happiness.  And as far as answering another commenter's question, "Who are these people who can afford half million...", they are hard-working people who would value quality and beautiful design over a McMansion in south Tulsa. Contributing to the revitalization of mid-town is also worth something to some folks and they're willing to invest in it.

[Conan71]

The renovation at 2753 South Gary Dr is a beautiful property.  The design and quality was very well done and someone more interested in those criteria will purchase the home. It's on a large corner lot and the craftsmanship throughout the home is very good.  Overpriced?  Maybe.  I analyzed the area within a 1/2 to 3/4 mile radius around the property and there's another renovated home just north of this one that actually is much higher per square foot.  The remaining recently sold and/ or homes for sale are running anywhere between $160-200 per ft. The home just across the street sat three years before selling 100k less than the 583k asking price but is now estimated (average) back at 583k. The high end of the estimate on Zillow (admittedly just one resource) is 698k or $233 per ft.  One could argue the home at 2753 S Gary could be valued between 428k and 512k.  Regardless of all of the analysis, the home is ultimately worth what someone is willing to pay for it.  If you believe that more and more properties are going to be updated, then the ultimate buyer should make his money back and then some.   Let's not forget that larger square footage and a larger lot don't equate to quality or guarantee happiness.  And as far as answering another commenter's question, "Who are these people who can afford half million...", they are hard-working people who would value quality and beautiful design over a McMansion in south Tulsa. Contributing to the revitalization of mid-town is also worth something to some folks and they're willing to invest in it.

My guess is it will be an out-of-state transplant who is used to 2000 to 2500 square foot modern being in the $500-$600K or higher range especially if they are relocating from the east or west coast.

[Red Arrow]

The renovation at 2753 South Gary Dr is a beautiful property.  The design and quality was very well done and someone more interested in those criteria will purchase the home. It's on a large corner lot and the craftsmanship throughout the home is very good.  Overpriced?  Maybe.  I analyzed the area within a 1/2 to 3/4 mile radius around the property and there's another renovated home just north of this one that actually is much higher per square foot.  The remaining recently sold and/ or homes for sale are running anywhere between $160-200 per ft. The home just across the street sat three years before selling 100k less than the 583k asking price but is now estimated (average) back at 583k. The high end of the estimate on Zillow (admittedly just one resource) is 698k or $233 per ft.  One could argue the home at 2753 S Gary could be valued between 428k and 512k.  Regardless of all of the analysis, the home is ultimately worth what someone is willing to pay for it.  If you believe that more and more properties are going to be updated, then the ultimate buyer should make his money back and then some.   Let's not forget that larger square footage and a larger lot don't equate to quality or guarantee happiness.  And as far as answering another commenter's question, "Who are these people who can afford half million...", they are hard-working people who would value quality and beautiful design over a McMansion in south Tulsa. Contributing to the revitalization of mid-town is also worth something to some folks and they're willing to invest in it.

Welcome to Tulsa Now Forum.

Any chance you are financially involved in the property at 2753 S Gary Dr?

[AngieB]

Welcome to Tulsa Now Forum.

Any chance you are financially involved in the property at 2753 S Gary Dr?

Ya think?