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2321 N 57th Street
Score
0
Seattle, WA

2321 N 57th Street

700K
2 bd • 1 ba • 940 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

$699,950

Price/Sq.Ft

$745

Year Built

1906

AI Property Analysis

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

The Good

This charming 1906 Craftsman home in Seattle's desirable Tangletown neighborhood offers excellent value and location. At $744.63/sqft, it's priced 12% below the Seattle median of $846/sqft for similar homes. The property boasts a prime location just 0.2 miles from the highly-rated McDonald International School (9/10) and within walking distance to Green Lake and Woodland Park. Recent upgrades include new interior paint and carpet, enhancing its move-in ready appeal. The 10+ foot attic height provides significant expansion potential, potentially adding 20-30% more living space. Climate risk scores are notably low, with minimal flood (1/10) and fire (1/10) risks, reducing insurance costs and long-term ownership risks. The backyard with mature trees offers a private outdoor space, rare in urban Seattle. The home's proximity to I-5 and Highway 99 ensures excellent commuter access, potentially saving 15-20 minutes on daily commutes compared to less centrally located properties.

The Bad

At 940 sqft, the home is 25% smaller than the Seattle median of 1,250 sqft for 2-bedroom homes. The single bathroom may be a limitation for some buyers, as most comparable properties offer 1.5 to 2 bathrooms. The age of the home (built in 1906) suggests potential for higher maintenance costs, typically 1-3% of the home's value annually ($7,000-$21,000). The wall furnace heating system is less efficient than modern forced-air systems, potentially increasing energy costs by 15-20%. The kitchen, while spacious, may require updates to meet current standards, with potential costs ranging from $30,000 to $50,000 for a full remodel.

The Ugly

The severe air quality risk (7/10) with 10 bad air days per year is concerning, potentially impacting health and outdoor enjoyment. This could necessitate installation of a whole-house air filtration system ($3,000-$5,000). The home's age raises serious concerns about potential lead paint and asbestos, common in pre-1978 homes. Professional testing and remediation could cost $10,000-$30,000 if issues are found. The lack of modern insulation in walls and attic likely results in poor energy efficiency, potentially increasing heating costs by 30-40% compared to well-insulated homes. Foundation issues are common in homes of this age, and a full inspection and potential repairs could range from $5,000 for minor fixes to $100,000+ for major structural work.

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 ideal for first-time homebuyers or young professionals with household incomes around $150,000-$200,000, based on the home price and Seattle's median income. It suits those prioritizing location over space, particularly those who value walkability and proximity to urban amenities. The expansion potential makes it attractive for buyers looking to add value through renovation. Investors could expect a potential cap rate of 4.5-5%, based on estimated rental income of $2,660/month for a 2-bedroom property in the area. The home is well-suited for singles or couples who appreciate historic charm and are willing to take on some renovation projects to customize their space.

Not For

This property is not suitable for larger families needing 3+ bedrooms or more than one bathroom. The limited space and potential renovation needs make it impractical for those seeking a turnkey home or those without the time or resources for home improvement projects. With only 940 sqft, it's not ideal for those who frequently work from home and need dedicated office space. The potential air quality issues make it unsuitable for individuals with respiratory sensitivities. Given the older systems and potential for major repairs, it's not recommended for buyers with limited budgets beyond the purchase price or those uncomfortable with the uncertainties of owning an older home.
Demographics
Area Median Income

$113,443

Property History

Price History
Ownership Timeline
$0Cash Purchase
Dec 31, 2024
Ellen J Kauffman, Christopher P Kauffman & Ellen J KauffmaEllen J Kauffman, Christopher P Kauffman & Ellen J Kauffma
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
May 17, 2021
Christopher P Kauffman, Ellen KauffmanThe Christopher P Kauffman And Ellen J K
Quit Claim Deed
Non-Arm's Length Transactions
$0Cash Purchase
Sep 10, 2015
Christopher P KauffmanChristopher P Kauffman & Ellen J Kauffma, Ellen J Kauffman
Intrafamily Transfer
Non-Arm's Length Transactions

Property Taxes

$6,165
2023 Tax Assessment
3.5%from previous year
Assessed Value$621,000
Tax Rate0.99%

Sunlight Analysis

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Sunlight Analysis

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Risk Assessment

Climate Risks

airMAJOR

10 bad air quality days per year

heatMINIMAL

7 extreme heat days per year

98th percentile: 86°F

floodMINIMAL

FEMA Zone: Minimal Risk Area

Insurance: Optional

fireMINIMAL

Insurance: Optional

windMINIMAL

Insurance: Optional

Risk Analysis

The severe air quality risk (7/10) poses long-term health concerns and may necessitate costly air filtration upgrades. The home's age (117 years) significantly increases the risk of major system failures, including plumbing, electrical, and structural issues. Estimated costs for full system overhauls could exceed $50,000-$100,000. The potential presence of lead paint and asbestos poses health risks and legal liabilities if not properly addressed. The less efficient heating system and likely poor insulation could result in energy bills 30-40% higher than comparable modern homes. The single bathroom may limit future resale potential in a market where multiple bathrooms are increasingly expected. The expansion potential, while attractive, comes with risks of uncovering significant issues during renovation, potentially adding 20-30% to projected remodel costs.
Insurance
Annual Cost

$2,520

$210 per month

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Schools

Roosevelt High School

Public•Grades 9-12
9/10
High
1,867 students

Mc Donald Elementary School

Public•Grades K-5
8/10
Elementary
464 students

B F Day Elementary School

Public•Grades K-5
8/10
Elementary
283 students

Hamilton International Middle School

Public•Grades 6-8
7/10
Middle
986 students

Green Lake Elementary School

Public•Grades PK-5
5/10
Elementary
437 students

Financials

Monthly Costs
Market Rent (2 bed)

$2,660

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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$699,950
Price/sqft
$745
Layout
2 bd•1 ba
Days on market
1 daysat time of analysis

Stats in the Area

Based on 6 comparable properties nearby

Average Price

$831,000

15.8%

Your price is 15.8% below average

Median Price

$975,000

28.2%

Based on 6 recent sales

Price per Sq.Ft

$868

14.2%

Your price is 14.2% below average $/sqft

Comparable Properties

715 N 70th Street, Seattle, WA 98103
Price: $975,000
Sq.Ft: 940
Beds/Baths: 2/1
$/Sq.Ft:
$1,03739.3%
Sale Date: 9/30/2024
4222 Meridian Avenue N, Seattle, WA 98103
Price: $1,000,000
Sq.Ft: 890
Beds/Baths: 1/1
$/Sq.Ft:
$1,12450.9%
Sale Date: 10/18/2024
1712 N 40th Street, Seattle, WA 98103
Price: $840,000
Sq.Ft: 1,030
Beds/Baths: 2/1
$/Sq.Ft:
$8169.5%
Sale Date: 10/18/2024
4343 Roosevelt Way NE #407, Seattle, WA 98105
Price: $425,000
Sq.Ft: 801
Beds/Baths: 1/1
$/Sq.Ft:
$53128.7%
Sale Date: 10/18/2024
928 N 75th Street, Seattle, WA 98103
Price: $675,000
Sq.Ft: 1,010
Beds/Baths: 2/1
$/Sq.Ft:
$66810.2%
Sale Date: 9/20/2024
4019 Sunnyside Avenue N, Seattle, WA 98103
Price: $1,071,000
Sq.Ft: 1,040
Beds/Baths: 2/1
$/Sq.Ft:
$1,03038.3%
Sale Date: 9/11/2024

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