Score
0Vashon, WA
23709 147th Avenue SW
2.0M
2 beds
2 baths
1,089 sqft
2 bd • 2 ba • 1,089 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
$2,000,000
Price/Sq.Ft
$1,837
Year Built
2013
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This waterfront property on Vashon Island offers an exceptional blend of luxury, privacy, and natural beauty. Built in 2013 to high standards, the main house boasts 1,089 sqft of living space with premium features like vaulted ceilings, an Italian induction range/oven, and Bosch appliances. The property's $1,836.55/sqft value is justified by its prime waterfront location with western views of Colvos Passage and private beach access. Additional structures significantly boost the property's value and versatility: a 2018-built treehouse carport with a bedroom and bath, and a rare Airstream guest quarters (1 of only 50 made) with unique finishes. The property's minimal flood (1/10) and fire (1/10) risk scores are excellent for a waterfront location, potentially leading to lower insurance premiums. The home's energy efficiency is enhanced by a ductless heat pump system, which can reduce energy costs by 30-50% compared to traditional HVAC systems.
The Bad
The property's price of $2,000,000 represents a significant 345.4% increase from its 2011 sale price of $449,000, which may raise concerns about overvaluation. At 1,089 sqft, the main house is smaller than many luxury properties, potentially limiting its appeal to larger families. The estimated annual insurance cost of $7,200 is high, representing 0.36% of the property value, compared to the typical range of 0.15-0.3% for standard homes. The air quality risk score of 6/10 is concerning, with 8 bad air days per year potentially impacting outdoor enjoyment and health. The property's remote island location may present challenges for daily conveniences and emergency services, which could be a deterrent for some buyers.
The Ugly
The extreme price appreciation since 2011 (345.4%) far outpaces typical market growth, raising serious questions about long-term value stability. This could indicate a potential bubble in the local market, with a risk of significant price correction. The property's unique features, while attractive, may limit its resale potential to a niche market of buyers. The reliance on a ductless mini-split system for heating and cooling, while efficient, may struggle to maintain comfort in extreme weather conditions given the home's vaulted ceilings. The property's heavy dependence on ferry service for mainland access presents significant lifestyle and emergency response challenges. In case of medical emergencies, the limited on-island healthcare facilities combined with potential ferry delays could pose serious risks.
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 high-net-worth individuals seeking a luxurious second home or vacation retreat. It's perfect for nature enthusiasts and those valuing privacy, with its waterfront location and private beach access. The multiple living spaces (main house, treehouse, Airstream) make it suitable for buyers who frequently host guests or extended family. Artists or writers looking for an inspiring, secluded workspace would find the serene environment conducive to creativity. The property would also appeal to eco-conscious buyers, given its energy-efficient features and minimal environmental risk scores.
Not For
This property is not suitable for families requiring multiple bedrooms or extensive living space in the main house. With only one bedroom in the main structure, it's impractical for large families or those needing dedicated office space. The high price point and substantial ongoing costs (insurance, ferry fees) make it unsuitable for budget-conscious buyers or those relying on traditional mortgage financing. The island location and ferry dependence make it impractical for those who need to commute daily to Seattle or Tacoma. Individuals with health conditions requiring frequent, rapid access to specialized medical care should consider the logistical challenges of island living.
Demographics
Area Median Income
$94,123
Property History
Price History
Ownership Timeline
$449,000Cash Purchase
Jul 26, 2011Eric S Magelssen, Branda HeftyKct Properties Llc
Warranty Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Sep 5, 2008Brenda Hefty, Brenda Hefty MagelssenBrenda Hefty, Eric S Magelssen
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
Jan 5, 1994David O Hefty, Brenda J HeftyBrenda J Hefty
Intrafamily Transfer
Non-Arm's Length Transactions
Property Taxes
$10,273
2023 Tax Assessment
1.9%from previous year
Assessed Value$932,000
Tax Rate1.10%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
2.0/10
Below AverageMiddle
3.5/10
Below AverageHigh
2.7/10
Below AverageFinancials
Monthly Costs
Market Rent (2 bed)
Get a detailed estimate on Zillow$2,199
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$2,000,000
Price/sqft
$1,837
Layout
2 bd•2 ba
Stats in the Area
Based on 3 comparable properties nearby
Average Price
$538,333
271.5%
Your price is 271.5% above average
Median Price
$660,000
203.0%
Based on 3 recent sales
Price per Sq.Ft
$726
153.0%
Your price is 153.0% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 13415 Point Richmond Drive NW, Gig Harbor, WA 98332 | $705,000 | 960 | 2 | 2 | $73460.0% | 9/6/2024 |
| 13101 Point Richmond Beach Road, Gig Harbor, WA 98332 | $660,000 | 920 | 1 | 1 | $71760.9% | 9/6/2024 |
| 137 SW Reddings Beach Rd., Vashon, WA 98070 | $250,000 | N/A | N/A | N/A | N/A | 8/24/2024 |
13415 Point Richmond Drive NW, Gig Harbor, WA 98332
Price: $705,000
Sq.Ft: 960
Beds/Baths: 2/2
$/Sq.Ft:
$73460.0%
Sale Date: 9/6/2024
13101 Point Richmond Beach Road, Gig Harbor, WA 98332
Price: $660,000
Sq.Ft: 920
Beds/Baths: 1/1
$/Sq.Ft:
$71760.9%
Sale Date: 9/6/2024
137 SW Reddings Beach Rd., Vashon, WA 98070
Price: $250,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 8/24/2024
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