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Live
your dream & let someone else pay for it!
Telluride
Real
Estate for sale by owner - Beautiful,
Peaceful Wooded Wonderland!
Drastically
reduced... priced to sell @ $999,999
Owner financing - 11% down ($108,000)will get you this house!
3 units... you can live in one and rent the other two...
30% down and your monthly payments are less than the total rental income!
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View
of Mt. Wilson from trout pond
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Numerous
lawn, deck, & garden areas
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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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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
This property was appraised for Wells Fargo in June, 2011 for $1,075,000 taking in current market conditions.
Three
commonly accepted appraisal approaches to value the property in normal market conditions...
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 |
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TOTAL
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$1,679,309
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3.)
Comparables —
Recently
sold properties in the Ski Ranches
| Date |
Address |
Sales
Price |
SqFt
(Lot) |
SqFt
(Imp) |
$/sf imp. |
| 8/25/08 |
241 Ridge Road |
$1,427,500 |
87,556 |
2364 (2
br) |
$604 |
| 6/30/08 |
241 Quakey Lane |
$1,850,000 |
87,991 |
4610 (5
br) |
$401 |
| 5/15/11 |
687 Fox Farm
|
$865,000 |
57,064 |
2205 (3
br) |
$392 |
1/18/11
|
694 Fox Farm
|
$990,000
|
53,143
|
3568 (5 br)
|
$277
|
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For
Sale
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105
Wapiti Rd. (subject property)
|
999,999 |
96,268
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3653
(6+br)
|
$273
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Listed
Summer 2009 for
$1,679,000
Just reduced again to
$999,999 -
a 40% 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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