Small is beautiful--340 Lincoln Avenue, Alameda, CA

This teensy brown shingle property recently came on the market (MLS #40350923).


There is no description in the MLS listing, so I'll just stick to the public records data:

Various places on the Web (no link until EBRD shenanigans are resolved) say the square footage is 931 rather than 831, and that the house has three bedrooms rather than 2. This might mean a 10x10 3rd bedroom was added at some point.

So, you ask, how much is this little bundle of joy? You might think it hovers around $350,000, assuming $400 / sqft or so minus a small penalty for being so small and located in such a bleh part of town.

So you wouldn't be surprised to find out it's currently listed for $675,000, i.e. $725 / sqft.

Interestingly, it was already overpriced the last time it was sold, just as the market boom was ramping up:

Last sale and tax info

Sold 04/11/2003: $369,000

2007 Property Tax: $5,045

Gack.

Update 7/27/08: Someone ran out of crack and massively dropped the price all at once from $675,000 to $499,000

Update 8/22/08: Another big drop to $425,000. That's still $456 / sqft (or $511 / sqft depending on whose sqft you pick), so I suspect it'll have to try again.

Update 9/30/08: Dropped to $399,000, with a free and delicious zeugma:

Motivated seller with unique interior and spacious backyard.

I wonder if you get the seller's unique interior for free when you buy the house. I don't think I'd want it. Besides there's another house on Lincoln with the seller's interior splattered all over the walls.