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Live
your dream & let someone else pay for it!
Telluride
Real
Estate for sale - Beautiful,
Peaceful Wooded Wonderland!
Just
reduced again... priced to sell @ $1,277,000
75%
Owner
Financing Available! Ideal
1031 Exchange
candidate.
The
Colorado mountain experience just minutes from town & skiing!
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View
of Mt. Wilson from trout pond
|
Numerous
lawn, deck, & garden areas
|
Three
Bedroom (plus
large attic/office)
House (rents
for $2400/month)
PLUS
2-bedroom/ 2 loft guest house (rents
for $1750/month)
PLUS
lock-off studio apartment (rents
for $950/month)
OR
combine main house with studio for a 4-bedroom house
Choose
which one you want to live in and let the rent pay your mortgage!
Flexible
configuration set on over 2 acres of Aspen forest
and
yet less than 10 minutes from Telluride & skiing!
HOME
FOR
SALE BY OWNER – OWNER
FINANCING
AVAILABLE
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|
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MAIN HOUSE
This charming
home is located in
the Telluride Ski Ranches and is very
tranquil. Set in the aspens on 2+ acres and featuring views of Mt.
Wilson and the Sneffels, this 3-bedroom/2-bath (plus large
office/attic) home can
be combined with lock-off studio to provide an additional bedroom and
bathroom and kitchenette. Passive solar, three heat sources, and a
unique layout combine to offer efficient choices that saves money
on utilities.
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LOCK-OFF
STUDIO
This cozy
studio can be rented separately or combined with the main house to
create a 4-bedroom (plus attic/office) home. Featuring views of the
Sneffels mountains, this apartment offers covered parking, a
private entrance, and a fenced yard with patio. Fully furnished down to
the linens and silverware, you have a turn-key
rental/caretaker unit.
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GUEST
HOUSE
This beautiful
and modern guest house has 2 bedrooms PLUS 2 lofts,
providing 4 different living/sleeping spaces.
Offering views of the Sneffels range, this
charming house features two large decks & vaulted ceilings.
Each bedroom has its own bathroom, spacious loft, &
entrance to the
deck, so there is lots of privacy and flexibility.
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Financial
Information
Three
commonly accepted appraisal approaches to value the property...
1.)
Rent
Multiplier (monthly
income times industry constant determined by
historical sales)
$5100 x 400 =
$2,040,000
2.)
Cost
| Land |
2.21 acres (96,268 sf) |
x
$6.50sf |
$
625,739 |
| Finished Living Area (depreciated) |
3653 sf (total 6+ bedrms. 5 baths) |
x
$250/sf |
$
904,250 |
| Garage |
800 sf finished |
x
$80/sf |
$
64,000 |
| Decks/carport |
4 decks, 1508 sf |
x
$40/sf |
$
60,320 |
| Add-ins (pond, 4 lawns,
fence, parking
pad) |
|
|
$
25,000 |
|
TOTAL
|
|
|
$1,679,309
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3.)
Comparables —
Recently
sold properties in the Ski Ranches
Undeveloped Lots:
| Date |
Address |
Sales
Price |
Square
Feet |
$/sf |
| 10/7/08 |
257 Saddle Horn Lane |
$758,000 |
93,218 |
$8.13 |
| 6/26/08 |
449 Wapiti Rd. |
$590,000 |
66,211 |
$8.91 |
| 5/22/08 |
931 Wapiti Rd. |
$515,000 |
83,625 |
$6.16 |
Homes (land plus improvements):
| Date |
Address |
Sales
Price |
SqFt
(Lot) |
SqFt
(Imp) |
Year |
| 8/25/08 |
241 Ridge Road |
$1,427,500 |
87,556 |
2364 (2
br) |
1986 |
| 7/15/08 |
223 Beaver Pond Lane |
$1,020,000 |
89,298 |
3262 (4
br) |
1985 |
| 6/30/08 |
241 Quakey Lane |
$1,850,000 |
87,991 |
4610 (5
br) |
2000 |
| 2/27/08 |
66 Canyon View Circle |
$1,650,000 |
77,101 |
3199 (5
br) |
1985 |
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For
Sale
|
105
Wapiti Rd. (subject property)
|
$1,277,000
|
96,268
|
3653
(6+br)
|
1980/94
|
Listed
Summer 2009 for
$1,679,000
Just reduced again to
$1,277,000 -
an over 30% reduction which reflects:
• an
acknowledgement of current
market factors
• the
motivation of the seller to offer the property
at the best market price
•
reduced real estate commissions.
Buyers’ Brokers Welcome!
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