2648 Tupelo Street, Atlanta (East Lake) – $250,000

2648 Tupelo Street, originally uploaded by jrumanes.

I showed this home to an Investor client of mine today. This area of East Lake is H-O-T! Lot’s of rehab, some new construction and homes are selling! This home, though is WAY overpriced! They are listing it as a potential short sale. But the market value on this house in its current condition is more like $170,000. Really a big difference. It has some potential, but needs a ridiculous amount of work! I’ll be calling the Listing Agent tomorrow to find out what the deal is.
It’s listed as a 3 bedroom, 2 bath but we looked and looked and couldn’t find the second bathroom. There has been ZERO updates to this house. The carpet is disgusting (original brown shag), the kitchen is way tiny and original. The lot is good. Like the rest of the neighborhood it’s narrow, but deep. There is a loft bedroom up some really steep stairs off the kitchen. My client liked it. He said it reminded him of his house back home growing up.

Photo provided by Listing Agent via the FMLS listing.