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1649 New York Dr
Altadena, CA

1649 New York Dr

$1,325,000
2 bd • 1 ba • 1,008 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$1,325,000

Price/Sq.Ft

$1314

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

The property at 1649 New York Dr, Altadena, CA 91001 boasts a prime location in a desirable area. The modern architectural style, as evidenced by the image, suggests a recent renovation or new construction, which is a significant plus. The exterior features sleek dark siding, large windows, and a stylish frosted glass front door, indicative of high-quality finishes. The landscaping includes drought-resistant ornamental grasses, showing thoughtful design for the local climate. At 1,008 square feet, the home offers an efficient use of space, ideal for those seeking a low-maintenance lifestyle. The asking price of $1,325,000 translates to $1,314.48 per square foot, which, while high, may be justified by the apparent quality of finishes and desirable location. The median income in the area is $114,668, suggesting a affluent neighborhood that could support property values.

The Bad

The property's small size (1,008 sq ft) and limited bedroom count (2 bedrooms, 1 bathroom) may restrict its appeal to a narrow segment of buyers, potentially impacting future resale value. The price per square foot of $1,314.48 is significantly above average for the area, which could make it challenging to appreciate further in the short term. The lack of listed features and property description makes it difficult to fully assess the home's amenities and potential hidden issues. The limited information about the year built and utilities/systems raises concerns about potential maintenance or upgrade needs that are not immediately apparent.

The Ugly

The extremely high price point of $1,325,000 for a 2-bedroom, 1-bathroom home of just 1,008 square feet is a major concern. This valuation may be difficult to justify, even in a hot market. The property's location in Altadena puts it at high risk for wildfires, which could lead to substantially higher insurance premiums and potential evacuation risks. The lack of information about the home's age and systems could hide significant issues or needed upgrades that could be costly for the new owner. The limited space and bedroom count severely restrict the property's versatility and potential for appreciation compared to larger homes in the area.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is best suited for affluent single professionals or couples without children who prioritize modern design and low maintenance over space. It would appeal to buyers with household incomes well above the area median of $114,668, likely needing an annual income of $300,000+ to comfortably afford the mortgage and associated costs. The property could also attract design enthusiasts or those looking for a luxurious pied-à-terre in the Altadena area. Investors looking for high-end short-term rental properties might find value, given the attractive modern aesthetic and potential for premium nightly rates.

Not For

This property is not suitable for families requiring more space, as the 2-bedroom, 1-bathroom layout is restrictive. It's also not ideal for first-time homebuyers or those with moderate incomes, given the high price point. Investors looking for cash flow from long-term rentals may find the price-to-rent ratio unfavorable, as the potential rental income (estimated $2,560 for a 2-bedroom based on provided data) would not cover the mortgage and associated costs. Those seeking a home with traditional charm or historic character would likely be disappointed by the modern design.
Demographics
Area Median Income

$114,668

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Risk Assessment

Risk Analysis

Major risks include the high fire hazard in Altadena, which could lead to evacuation orders and potential property damage. The property's high valuation presents a significant financial risk if the market cools. The lack of information about the home's age and systems could hide potential issues with the foundation, roof, or major appliances that could be costly to repair or replace. The limited space may make future expansions difficult or impossible, potentially capping long-term appreciation. The modern design, while currently appealing, may become dated, necessitating costly updates to maintain value. The high price point may limit the pool of potential buyers in a future sale, extending time on market and potentially forcing price reductions.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$1,121,667

-15.3% below list price

Median Price

$1,020,000

Based on 6 recent sales

Price per Sq.Ft

$1,016

Comparable Properties

834 Morada Place, Altadena, CA 91001
Price: $760,000
Sq.Ft: 963
Beds/Baths: 2/1
$/Sq.Ft:
$78940.0%
Sale Date: 11/4/2024
834 E Ladera Street, Pasadena, CA 91104
Price: $1,010,000
Sq.Ft: 1,000
Beds/Baths: 2/1
$/Sq.Ft:
$1,01023.2%
Sale Date: 10/10/2024
1857 Casa Grande Street, Pasadena, CA 91104
Price: $1,020,000
Sq.Ft: 1,002
Beds/Baths: 2/1
$/Sq.Ft:
$1,01822.6%
Sale Date: 9/1/2024
1270 N Mar Vista Avenue, Pasadena, CA 91104
Price: $1,350,000
Sq.Ft: 1,100
Beds/Baths: 2/1
$/Sq.Ft:
$1,2276.6%
Sale Date: 8/25/2024
1700 New York Drive, Altadena, CA 91001
Price: $900,000
Sq.Ft: 871
Beds/Baths: 2/1
$/Sq.Ft:
$1,03321.4%
Sale Date: 8/2/2024
1458 Allen Avenue, Altadena, CA 91001
Price: $1,690,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 8/19/2024

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