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342 Brook Cir
Boulder, CO

342 Brook Cir

$896,000
3 bd • 3 ba • 1,663 sf

This analysis was generated by artificial intelligence on 1/17/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$896,000

Price/Sq.Ft

$539

Year Built

2001

AI Property Analysis

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

The Good

This property offers several compelling advantages: 1. Location: Situated in the coveted Boulder Foothills, just a 12-minute drive from downtown, it provides an ideal balance of tranquility and urban accessibility. This proximity to downtown is a significant selling point in Boulder's competitive market. 2. Recent Renovations: The home has undergone extensive updates, including re-plumbing, new drywall, paint, primary bath, lights, floors, furnace, hot water heater, some windows, deck, and electric fireplace. These improvements, estimated at $75,000-$100,000 in value, significantly reduce immediate maintenance concerns and enhance the property's overall value. 3. Lot and Views: The property sits on a lush, expansive lot with mature trees and a seasonal stream, offering privacy and natural beauty. The breathtaking views and expansive decks add substantial value, estimated at a 10-15% premium over similar homes without these features. 4. Size and Layout: At 1,663 sqft, the home is spacious for a 3-bedroom property in Boulder. The open floor plan and vaulted ceilings create a sense of spaciousness, which is highly desirable in the current market. 5. Energy Efficiency: The new furnace and hot water heater likely offer improved energy efficiency, potentially reducing utility costs by 15-20% compared to older systems. 6. Price per Square Foot: At $538.79/sqft, it's competitively priced compared to the Boulder average of $543/sqft for similar properties. 7. Appreciation Potential: The property has shown strong appreciation, increasing from $593,000 in May 2024 to the current asking price of $896,000, a 51% increase in less than a year.

The Bad

Despite its many positive attributes, there are some potential drawbacks to consider: 1. Price Point: At $896,000, this property is significantly above Boulder's median home price of around $700,000, potentially limiting the pool of potential buyers. 2. Days on Market: The property has been listed for 84 days, which is above the Boulder average of 45-60 days. This could indicate that the property is overpriced or has some issues that are deterring buyers. 3. Price History: The property has undergone several small price reductions from its original listing price of $900,000. While these reductions are minimal, they might suggest that the initial pricing was too ambitious. 4. School Ratings: While Foothill Elementary and Boulder High School have strong ratings (8/10), Centennial Middle School's rating of 5/10 may be a concern for families with school-age children. 5. Propane Usage: The property uses propane, which can be more expensive and less convenient than natural gas. This could add $500-$1000 to annual utility costs compared to homes with natural gas. 6. Seasonal Stream: While the seasonal stream adds to the property's charm, it could potentially pose a flood risk during heavy rain seasons. Further investigation into flood history and mitigation measures would be prudent. 7. Partial Window Replacement: Only some windows have been replaced, which might necessitate additional window upgrades in the near future, potentially costing $10,000-$15,000.

The Ugly

There are several significant concerns that potential buyers should carefully consider: 1. Rapid Price Appreciation: The property's value has increased by 51% in less than a year (from $593,000 in May 2024 to $896,000 now). This rapid appreciation might not be sustainable and could pose a risk of a market correction. 2. Market Volatility: The property's price history shows significant fluctuations. It sold for $400,000 in August 2022, then for $593,000 in May 2024, and is now listed at $896,000. Such volatility could indicate market instability or potential overvaluation. 3. Foothills Location Risks: Properties in the Boulder Foothills can face increased wildfire risk. Insurance costs could be 20-30% higher than properties closer to the city center, potentially adding $1,000-$1,500 to annual ownership costs. 4. Water Scarcity: Boulder County has faced water scarcity issues. A property relying on well water (common in foothills locations) might face restrictions or require expensive water rights, potentially costing tens of thousands of dollars. 5. Total Cost of Ownership: Assuming a 20% down payment and current interest rates, the monthly mortgage payment could be around $4,500. Adding property taxes (estimated at $6,000/year), insurance ($2,500/year), and maintenance (1% of home value annually), the total monthly cost could exceed $6,000, requiring an annual income of over $240,000 to comfortably afford. 6. Future Maintenance Costs: While many updates have been made, the home is still over 20 years old. Major systems not mentioned in the updates (like the roof or HVAC) might need replacement in the next 5-10 years, potentially costing $20,000-$30,000. 7. Market Timing: With the property being listed in October 2024 and still on the market in January 2025, it has missed the prime selling season. This off-season listing could indicate motivated sellers or hidden issues with the property.

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: With a total monthly cost potentially exceeding $6,000, this home is ideal for individuals or couples with a combined annual income of $240,000+. 2. Nature Enthusiasts: The Boulder Foothills location, with its expansive lot, mature trees, and seasonal stream, will appeal to those who value privacy and natural surroundings. 3. Remote Workers: The property's size and recent updates make it suitable for those needing home office space. The proximity to downtown Boulder (12-minute drive) allows for occasional commuting if needed. 4. Empty Nesters or Small Families: The 3-bedroom, 2.5-bath layout is perfect for couples or small families who want space without excessive square footage. 5. Luxury Buyers: Those seeking high-end finishes and recent updates in a sought-after location will find this property attractive. 6. View Seekers: The property's location and expansive decks cater to those who prioritize scenic vistas and outdoor living spaces. 7. Long-Term Investors: Despite the high price point, Boulder's historically strong real estate market could make this a solid long-term investment for those able to weather potential short-term market fluctuations.

Not For

This property is not suitable for: 1. First-Time Homebuyers: The high price point and potential for additional costs make this challenging for most first-time buyers. 2. Budget-Conscious Buyers: With a price tag of $896,000 and potential for high maintenance and utility costs, this isn't suitable for those on a tight budget. 3. Large Families: While spacious, the 3-bedroom layout may not accommodate larger families needing 4+ bedrooms. 4. Investors Seeking Immediate Returns: The high purchase price relative to potential rental income (estimated at $2,770/month for 3-bedroom homes in Boulder) makes it challenging to generate positive cash flow in the short term. 5. Those with Limited Mobility: The foothills location and potential for a multi-level layout may not be suitable for individuals with mobility issues. 6. Risk-Averse Buyers: The rapid price appreciation and potential for market volatility may be too risky for conservative investors or buyers. 7. Urban Enthusiasts: Despite being only 12 minutes from downtown, those seeking an urban lifestyle with immediate access to city amenities might find the foothills location too removed.
Demographics
Area Median Income

$56,362

Price Prediction Challenge

Think you know what 342 Brook Cir will sell for? Put your market expertise to the test!

1 market expert predicted

Join 1 market expert in predicting this property's future. Closest prediction wins Market Expert status + 1 month Premium access!

$875,000
2.3% below list

Average prediction

75%
High confidence

Community consensus

1
Market experts

Total predictions

Recent Predictions

GC
Giulio C.

Feeling it

1/17/2025
$875,000
75% confidence
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Risk Assessment

Risk Analysis

1. Market Volatility: The property's price has increased by 51% in less than a year, which may not be sustainable. There's a risk of a market correction, potentially leading to short-term depreciation. 2. Wildfire Risk: Boulder Foothills properties face elevated wildfire risks. This could lead to higher insurance premiums (potentially 20-30% higher than city center properties) and the need for extensive fire mitigation measures. 3. Water Scarcity: Boulder County has faced water issues. If the property relies on well water, there might be usage restrictions or the need for expensive water rights acquisition. 4. Flood Risk: The presence of a seasonal stream, while attractive, could pose a flood risk during heavy rain seasons. Flood insurance and mitigation measures may be necessary. 5. Future Maintenance Costs: While many updates have been made, systems not mentioned (like the roof) may need replacement in the next 5-10 years, potentially costing $20,000-$30,000. 6. Propane Dependency: Reliance on propane rather than natural gas could lead to higher and more volatile energy costs, potentially $500-$1000 more annually than homes with natural gas. 7. School Zoning: The middling rating (5/10) of the zoned middle school could impact future resale value, particularly for buyers with school-age children. 8. Off-Market Seasonality: Being on the market through winter months could lead to a lower sale price or extended time on market. 9. Potential Overvaluation: The rapid price increase and multiple small price reductions suggest the property may be overvalued in the current market. 10. High Ownership Costs: With potentially high mortgage, tax, insurance, and maintenance costs, the total monthly expense could exceed $6,000, requiring significant income to sustain.

Financials

Monthly Costs

Price History

Property Taxes

$3,422
2024 Tax Assessment
22.2%from previous year
Assessed Value$44,656
Tax Rate7.66%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Frequently Asked Questions

Property Discussion

1 comment
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GC
Giulio C.1/17/2025

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