Spelling bee minus--116 Bannister Way, Alameda, CA

On yet another one of those misspelled street names in 94502 lies today's short-sale duet, which sports not one but two master bedrooms suites.

2 bedrooms, 2 bathrooms, 1,519 sqft, 2,560-sqft lot, MLS(r) #40385586, $499,000

Two master suites grace this bright and sunny Bay Colony duet [...] Very short distance to the ferry, schools, shopping, [...] walking paths along San Francisco Bay. 

The MLS(r) listing is amusingly worded:

Sunny duet [...] Two master suites and additional ½ bath. [...] This propety has a "long driveway". Vaulted ceilings & lots of windows. Roof two years old. [...]

The "propety" has a "long driveway". Not a long driveway, mind you--a "long driveway". I'm not sure why that would be a selling point, with or without the scare quotes. And even if there were a pool of buyers out there with a "long driveway" fetish, $328 / sqft is on the high side for a duet on such a teeny tiny lot.

Maybe the owners are tired of serving two master bedrooms (although I'm not clear on how both bedrooms in a 2-BR unit can be the master), considering:

Last sale and tax info

Sold 03/25/2005: $650,000

2008 Property Tax: $10,280

Assuming the property does sell for $499,000, and subtracting 6% for agent commissions and the price of a new roof (rounding down to net proceeds of $450,000), we're looking at $200,000 up in smoke in less than 4 years. That's just under what most people take home in solidly middle-class 94502. Well done.