Is this Oakland Hills home priced $200K under market value?
Even at market price or above that, this Oakland Hills home would be popular: It's sweet inside, with unique upgrades, a gorgeous view, and potential rental income. So why it only $799,000?
The three-level, five-bedroom, three and a half-bathroom house is 2,942 square feet. It has a distinct '70s feel that — instead of being obliterated — has been celebrated.
The retro angled ceilings rise up over a modern-feeling open living room/dining room/kitchen with wood floors the pick up light flooding in from a wall of windows. That wall, paneled in wood, opens to a deck that looks out over the city skyline and the forest of Chabot Park.
The kitchen, featuring quartz countertops, tile mosaic backsplash and a wine fridge, has received careful attention since the '70s.
The master bedroom has its own fireplace. In fact, there are four fireplaces in this home for gathering inside, and decks off each story for gathering alfresco.
On the ground level is separate apartment, complete with kitchen, bath and entrance, that could be an in-law, a home office or an AirBnb.
Don't miss the knotty pine music room!
The home rests on the edge of a 5,922 square foot lot close near Knowland Park, the Oakland Zoo, and the green acres of Chabot. It's also not far from 580, for commuting purposes.
The Oakland Hills, with their sweeping views and sense of privacy — while still being centrally located — enjoy high demand.
In the past 30 days, homes that share a zip code with 3020 Broadmoor View have sold at 109 percent of asking, fetching an average of $433 per square foot.
In contrast, 3020 Broadmoor View asks $272 a square foot.
To add to the mystery, this home last sold in 2017 for $875,000. Now, it's asking less than that: $799,000.
Comparable analysis puts the market price of this home closer to $1 million.
Why the lowball price?
Marty Griffith of eXp Realty told SFGate that the price of this home was set to generate interest. "It has drawn buyers from near and far," said Griffith, "from first-time buyers to investors."
Each time eXp Realty has held an open house for this listing, over 30 potential buyers have come.
The home also came with an offer deadline 12 days after it went live on the market. "We expect multiple offers," Griffith said.
And indeed, so do we.
As to what it might actually sell for, we'll let commenters lay their bets.
Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert.