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9822 44th Avenue SW
Seattle, WA

9822 44th Avenue SW

$899,900
3 bd • 2 ba • 1,350 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$899,900

Price/Sq.Ft

$667

Year Built

1948

AI Property Analysis

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

The Good

This 1948-built property at 9822 44th Avenue SW, Seattle, WA 98136 offers unique charm and character with its fine wood details, vaulted ceilings, and historical elements. The home features 1,350 sqft of living space with 3 bedrooms and 2 bathrooms, priced at $899,900 ($666.59/sqft). Key highlights include: 1. Location: Close proximity to ferry and waterfront, enhancing its appeal and potential for appreciation. 2. Unique Features: Double-coffered doors, stained-glass accents, two-sided fireplace, and vaulted ceilings add significant character and value. 3. Bonus Space: A separate 600+ sqft bonus building, converted from a historic schoolhouse, offers versatile use as a studio, workspace, or entertainment area. 4. Recent Upgrades: New A/C system for year-round comfort, adding to the property's modern amenities. 5. Appliances: Well-equipped with ceiling fans, dishwasher, refrigerator, stove/range, washer, and dryer. 6. Energy Efficiency: Features two on-demand tankless water heaters, potentially reducing energy costs. 7. Market Position: Listed at $899,900, which is a 8.9% increase from its last sale price of $826,000 in December 2021, indicating appreciation. 8. Rental Potential: Based on local rates, a 3-bedroom home could potentially rent for around $2,970/month, offering investment opportunities. 9. School Proximity: Within 1.5 miles of elementary, middle, and high schools, adding convenience for families. 10. Median Income: The area's median income of $130,978 suggests a relatively affluent neighborhood, which could support property values.

The Bad

1. Price Point: At $666.59/sqft, it's priced significantly higher than the Seattle median of around $500/sqft, potentially limiting the buyer pool. 2. Age of Property: Built in 1948, it may require more maintenance and updates compared to newer constructions. 3. Size: At 1,350 sqft, it's smaller than many family homes in Seattle, which could deter some buyers looking for more space. 4. School Ratings: Nearby schools have average to below-average ratings (4-6/10), which might concern families with school-age children. 5. Market Timing: Listed for only 7 days, there's limited market feedback on the current pricing strategy. 6. Potential for Bidding Wars: Given Seattle's competitive market, the unique features might drive up the final sale price above the asking price. 7. Heating System: The combination of baseboard, ductless heat pump, and radiant heating might be less efficient or more complex to maintain than a single, modern system. 8. Limited Parking: No mention of garage or dedicated parking spaces, which can be a significant drawback in Seattle. 9. Potential for High Property Taxes: Given the price point and Seattle's relatively high property tax rates, annual taxes could be a significant ongoing expense. 10. Hillside Concerns: If located on a hillside (common in Seattle), there could be additional maintenance or stability concerns not immediately apparent.

The Ugly

1. Potential Structural Issues: Given the age of the home (75 years old), there could be hidden structural problems that may require costly repairs. 2. Seismic Retrofit Needs: Being an older home in an earthquake-prone area, it may require expensive seismic retrofitting to meet current safety standards. 3. Historic Restrictions: The property's unique features and historic elements might limit renovation options or increase costs due to preservation requirements. 4. Water Damage Risks: Proximity to the waterfront could mean increased risk of water damage or flooding, potentially leading to higher insurance costs. 5. Market Volatility: The Seattle market, influenced heavily by the tech industry, could experience significant fluctuations, affecting property values. 6. Maintenance Costs: The combination of older construction, unique features, and separate bonus building could lead to higher-than-average maintenance costs. 7. Zoning Limitations: The bonus building's use may be restricted by local zoning laws, potentially limiting its advertised versatility. 8. Energy Efficiency Concerns: Despite some modern amenities, the overall energy efficiency of a 1948 construction might be poor, leading to high utility costs. 9. Potential for Asbestos or Lead: Given the age of the home, there's a risk of hazardous materials like asbestos or lead paint, which could require costly remediation. 10. Financing Challenges: The unique nature of the property might make it more difficult to appraise accurately, potentially causing issues with mortgage financing.

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. Art Enthusiasts or Creatives: The separate studio space and unique architectural features make it ideal for artists or those seeking an inspiring home environment. 2. History Buffs: Buyers who appreciate historical charm and are willing to maintain a property with character. 3. Professionals Working from Home: The bonus space offers an excellent home office or workspace separate from the main living area. 4. Empty Nesters or Small Families: The 3-bedroom layout and modest size (1,350 sqft) are suitable for couples or small families who prioritize quality over quantity of space. 5. High-Income Earners: With a price point of $899,900, it's best suited for buyers with incomes well above the area median of $130,978, likely needing an annual income of $200,000+ for comfortable affordability. 6. Investors: Given the potential rental income of around $2,970/month for a 3-bedroom in the area, it could appeal to investors looking for a unique property in a desirable location. 7. Waterfront Enthusiasts: Its proximity to the ferry and waterfront makes it ideal for those who enjoy water activities or commute via ferry. 8. Buyers Seeking Energy Efficiency: The presence of modern amenities like tankless water heaters and new A/C might appeal to energy-conscious buyers. 9. Entertainment-Focused Buyers: The open living space, vaulted ceilings, and bonus area make it great for those who love to entertain. 10. Commuters to Downtown Seattle: Its location provides good access to ferries and potentially quicker commutes to the city center.

Not For

This property is not ideal for: 1. Large Families: The 1,350 sqft with 3 bedrooms may be too small for families needing more space. 2. Budget-Conscious Buyers: At $899,900, it's priced above the median for Seattle, making it unsuitable for first-time buyers or those with limited budgets. 3. Low-Maintenance Seekers: The age and unique features of the home likely require more upkeep than a newer, more standard property. 4. Modernists: Those preferring contemporary design and the latest home technologies may find the historical elements less appealing. 5. Buyers with School-Age Children: The average to below-average school ratings (4-6/10) might deter families prioritizing top-rated schools. 6. Risk-Averse Investors: The high price point and potential for increased maintenance costs make it a riskier investment compared to more standard properties. 7. Accessibility Needs: The property description doesn't mention accessibility features, potentially making it unsuitable for those with mobility concerns. 8. Car Enthusiasts: With no mention of a garage or ample parking, it may not suit those with multiple vehicles or who require protected parking. 9. Energy Efficiency Purists: Despite some modern amenities, an older home may not meet the highest standards of energy efficiency. 10. Those Seeking Predictable Appreciation: The unique nature of the property might lead to more volatile price changes compared to more standard homes in the area.
Demographics
Area Median Income

$130,978

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Risk Assessment

Risk Analysis

1. Structural Integrity: The 75-year-old structure may have hidden issues that could lead to costly repairs. 2. Seismic Vulnerability: Seattle's earthquake risk means this older home may require expensive seismic retrofitting. 3. Water Damage: Proximity to the waterfront increases the risk of water-related damage and potentially higher insurance costs. 4. Market Volatility: Seattle's real estate market, influenced by the tech industry, can experience significant fluctuations. 5. Maintenance Costs: Unique features and the separate bonus building could lead to higher-than-average upkeep expenses. 6. Zoning Restrictions: The use of the bonus building may be limited by local zoning laws, affecting its versatility. 7. Energy Inefficiency: Despite some updates, the overall energy efficiency of a 1948 construction might be poor, leading to high utility costs. 8. Hazardous Materials: Given its age, there's a risk of asbestos or lead paint, which could require costly remediation. 9. Financing Challenges: The property's unique nature might complicate accurate appraisal and mortgage financing. 10. Insurance Costs: Unique features, age, and location might result in higher-than-average insurance premiums. 11. Renovation Limitations: Historical elements might restrict renovation options or increase costs due to preservation requirements. 12. Property Tax Increases: The high valuation and potential for further appreciation could lead to significant property tax hikes. 13. Neighborhood Changes: Proximity to the waterfront might lead to future development that could alter the area's character. 14. Climate Change Impact: Being close to the water, long-term climate change effects like sea-level rise could become a concern. 15. Competitive Market Challenges: Seattle's hot market might lead to bidding wars, potentially driving the price well above the asking price.

Financials

Monthly Costs

Price History

Property Taxes

$7,264
2023 Tax Assessment
5.2%from previous year
Assessed Value$701,000
Tax Rate1.04%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$783,500

-12.9% below list price

Median Price

$800,000

Based on 6 recent sales

Price per Sq.Ft

$599

Comparable Properties

9234 35th Avenue SW #C, Seattle, WA 98126
Price: $515,000
Sq.Ft: 1,164
Beds/Baths: 3/2
$/Sq.Ft:
$44233.6%
Sale Date: 10/10/2024
4207 SW Sullivan Street, Seattle, WA 98136
Price: $1,282,000
Sq.Ft: 1,290
Beds/Baths: 2/2
$/Sq.Ft:
$99449.1%
Sale Date: 9/5/2024
10614 28th Avenue SW, Seattle, WA 98146
Price: $600,000
Sq.Ft: 1,180
Beds/Baths: 2/2
$/Sq.Ft:
$50823.7%
Sale Date: 9/27/2024
8646 36th Avenue SW, Seattle, WA 98126
Price: $805,000
Sq.Ft: 1,530
Beds/Baths: 3/2
$/Sq.Ft:
$52621.1%
Sale Date: 9/27/2024
10203 47th Avenue SW #B22, Seattle, WA 98146
Price: $699,000
Sq.Ft: 1,264
Beds/Baths: 2/2
$/Sq.Ft:
$55317.0%
Sale Date: 8/22/2024
9034 36th Avenue SW, Seattle, WA 98126
Price: $800,000
Sq.Ft: 1,403
Beds/Baths: 3/3
$/Sq.Ft:
$57014.5%
Sale Date: 10/15/2024

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