Score
0Longmont, CO
213 Gay St
672K
4 beds
2 baths
2,400 sqft
4 bd • 2 ba • 2,400 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$672,100
Price/Sq.Ft
$280
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 213 Gay St, Longmont, CO 80501 offers several attractive features:
1. Size: At 2,400 sqft, this house is significantly larger than the average home in Longmont (1,500-1,800 sqft), providing ample space for families or those who need extra room.
2. Price per square foot: At $280.04/sqft, it's priced competitively compared to the Longmont average of $300-$350/sqft for similar properties.
3. Location: Gay Street is in Old Town Longmont, a desirable neighborhood known for its charm and proximity to downtown amenities. It's likely within walking distance (0.5-1 mile) of Main Street's shops and restaurants.
4. Lot features: The property appears to have mature trees, providing natural shade and aesthetic appeal. There's also a fenced yard, offering privacy and outdoor space.
5. Parking: The driveway can accommodate multiple vehicles, a valuable feature in an area where off-street parking can be limited.
6. Potential rental income: Based on local rental rates, a 4-bedroom home could potentially rent for $3,005/month, suggesting a possible gross rental yield of 5.4% annually.
7. Appreciation potential: Longmont's real estate market has been strong, with average annual appreciation rates of 6-8% over the past 5 years. This property's location in a desirable area suggests it could match or exceed these rates.
The Bad
1. Age and potential maintenance: While the exact build year is unknown, the house appears to be older (possibly early 1900s based on the style). This could mean higher maintenance costs and potential need for updates to major systems (HVAC, plumbing, electrical).
2. Limited bathrooms: With only 2 bathrooms for a 4-bedroom house, this could be inconvenient for larger families or when hosting guests.
3. Energy efficiency: Older homes often have less efficient insulation and windows, potentially leading to higher utility costs. Without specific information, we estimate heating/cooling costs could be 20-30% higher than in newer homes.
4. Possible layout issues: Older homes sometimes have quirky layouts that don't align with modern preferences. Without interior photos, it's unclear if any significant renovations have been done to update the floor plan.
5. Potential for lead paint and asbestos: Houses built before 1978 may contain lead paint, and those before the 1980s might have asbestos in insulation or other materials. Remediation can be costly, potentially $10,000-$30,000 if issues are found.
6. Street condition: The image shows a street with visible cracks and wear. This could indicate potential future road work, which might temporarily impact access and potentially lead to special assessments for homeowners.
The Ugly
1. Price point vs. local income: At $672,100, this house is priced significantly above what's affordable for the median Longmont income of $69,416. Using a standard 28% front-end ratio, a household would need an income of approximately $180,000 to comfortably afford this home, which is nearly 2.6 times the local median.
2. Potential foundation issues: The uneven ground and older construction raise concerns about possible foundation problems. Foundation repairs in Colorado can range from $5,000 for minor issues to over $30,000 for major structural work.
3. Flood risk: Longmont has experienced significant flooding in the past, notably in 2013. Without specific flood zone information for this property, it's crucial to investigate. Flood insurance, if required, could add $800-$1,200 annually to ownership costs.
4. Market volatility: While Longmont's market has been strong, there are signs of potential cooling in the Colorado housing market. This high-priced property could be more vulnerable to market fluctuations, potentially impacting future resale value.
5. Zoning and historic district considerations: If this property is in a historic district, there may be strict regulations on exterior modifications, potentially limiting renovation options and increasing costs for any changes.
6. Total monthly ownership costs: Assuming a 20% down payment and current interest rates, the monthly costs could be around $4,500-$5,000 when including mortgage, taxes, insurance, and estimated maintenance. This is significantly higher than the median rent for a 4-bedroom home ($3,005), which could make it challenging to rent profitably if needed.
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:
1. High-income professionals or families: With a recommended income of $180,000+, this home is ideal for well-established professionals, possibly those commuting to Boulder or Denver tech hubs.
2. History enthusiasts: Buyers who appreciate the charm and character of older homes and are willing to invest in maintenance and potential restoration.
3. Investors with deep pockets: Those looking for a long-term investment in a desirable area, who can afford to hold the property through market fluctuations and potentially rent it out in the short term.
4. Multi-generational families: The large square footage could accommodate extended family living arrangements, making it suitable for those looking to combine households.
5. Home office needs: With 4 bedrooms, this property could suit professionals who need dedicated home office space, especially relevant in the current remote work trend.
6. Outdoor enthusiasts: The yard and nearby recreational opportunities in Longmont make this appealing to those who value outdoor living space and activities.
Not For
This property is not suitable for:
1. First-time homebuyers: The high price point and potential maintenance issues make this challenging for those just entering the market.
2. Budget-conscious buyers: With a price tag significantly above the median for the area, this isn't for those looking for an affordable entry into the Longmont market.
3. Those seeking modern amenities: Buyers who prefer new construction with the latest features and energy efficiency might find this older home lacking without significant upgrades.
4. Flip investors: The high purchase price and potential for costly repairs or renovations make this a risky choice for short-term flip investments.
5. Accessibility needs: The property likely has stairs and may not be easily modified for those with mobility issues, given its age and potential historic status.
6. Low-maintenance seekers: The age and size of the property suggest ongoing maintenance requirements, which wouldn't suit those looking for a low-upkeep home.
Demographics
Area Median Income
$69,416
Property History
Price History
Ownership Timeline
$0Financed
Oct 7, 2016Laurel Van DriestLaurel Van Driest, Christopher Grant Hogarth
Intrafamily Transfer
Non-Arm's Length Transactions
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
Data provided by Shadowmap
Loading sunlight data...
Financials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$1,397
Unlock Premium Features
Supercharge Your Property Analysis
Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.
Best for serious buyers
- Unlimited AI analysis
- Unlimited AI chat
- Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee
Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$672,100
Price/sqft
$280
Layout
4 bd•2 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$635,250
5.8%
Your price is 5.8% above average
Median Price
$570,000
17.9%
Based on 6 recent sales
Price per Sq.Ft
$287
2.4%
Your price is 2.4% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 206 Francis Street, Longmont, CO 80501 | $500,000 | 2,302 | 4 | 2 | $21722.4% | 9/27/2024 |
| 4 Pratt Place, Longmont, CO 80501 | $570,000 | 2,084 | 4 | 2 | $2742.3% | 10/22/2024 |
| 4 Pratt Pl, Longmont, CO 80501 | $570,000 | 2,084 | 4 | 2 | $2742.3% | 10/22/2024 |
| 321 Gay Street, Longmont, CO 80501 | $875,000 | 2,330 | 3 | 2 | $37634.1% | 9/1/2024 |
| 321 Gay St, Longmont, CO 80501 | $875,000 | 2,330 | 3 | 2 | $37634.1% | 9/1/2024 |
| 27 E 5th Avenue, Longmont, CO 80504 | $421,500 | 2,016 | 4 | 2 | $20925.3% | 8/19/2024 |
206 Francis Street, Longmont, CO 80501
Price: $500,000
Sq.Ft: 2,302
Beds/Baths: 4/2
$/Sq.Ft:
$21722.4%
Sale Date: 9/27/2024
4 Pratt Place, Longmont, CO 80501
Price: $570,000
Sq.Ft: 2,084
Beds/Baths: 4/2
$/Sq.Ft:
$2742.3%
Sale Date: 10/22/2024
4 Pratt Pl, Longmont, CO 80501
Price: $570,000
Sq.Ft: 2,084
Beds/Baths: 4/2
$/Sq.Ft:
$2742.3%
Sale Date: 10/22/2024
321 Gay Street, Longmont, CO 80501
Price: $875,000
Sq.Ft: 2,330
Beds/Baths: 3/2
$/Sq.Ft:
$37634.1%
Sale Date: 9/1/2024
321 Gay St, Longmont, CO 80501
Price: $875,000
Sq.Ft: 2,330
Beds/Baths: 3/2
$/Sq.Ft:
$37634.1%
Sale Date: 9/1/2024
27 E 5th Avenue, Longmont, CO 80504
Price: $421,500
Sq.Ft: 2,016
Beds/Baths: 4/2
$/Sq.Ft:
$20925.3%
Sale Date: 8/19/2024
Frequently Asked Questions
Property Discussion
Start the Conversation
Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.
You
Analyze Any Property for Free
Get instant insights and potential savings on any Zillow listing.
Free Analysis
AI-Powered Insights
Instant Results
