3005 Broadway St

1. Potential Hidden Issues: Given the home's age and history of low-price sales (e.g., $5,000 in 2010, $16,500 in 2015), there may be underlying structural or neighborhood issues not immediately apparent. 2. Possible Over-Improvement: The significant price increase from $122,500 in 2018 to the current $265,000 listing (116% in 7 years) far outpaces typical market appreciation, suggesting potential over-improvement or market speculation. 3. Market Resistance: Multiple price reductions (from $290,000 to $265,000) over 119 days on market indicate strong buyer resistance at higher price points. 4. Neighborhood Transition Risk: The extreme price volatility in the property's history suggests the neighborhood may have undergone significant changes, which could continue to affect property values unpredictably. 5. Potential Hazardous Materials: Given its age, the home may contain lead paint or asbestos, which could require costly remediation. 6. Zoning and Historical Restrictions: As an older home, there may be zoning restrictions or historical preservation requirements that limit future renovations or use. 7. Flood Risk: The proximity to Fall Creek Trail suggests potential flood risk, which could lead to higher insurance costs or future damage. 8. Foundation Issues: Older homes in areas with volatile price histories often have foundation problems, which can be extremely costly to repair. 9. Total Cost of Ownership: When factoring in potential repairs, updates, and higher utility costs due to age, the total cost of ownership could be significantly higher than the purchase price suggests.