Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 8 months ago on . Most recent reply

User Stats

19
Posts
10
Votes
Peter Martinson
  • New to Real Estate
  • Greater Philadelphia
10
Votes |
19
Posts

Markup for architecturally significant house?

Peter Martinson
  • New to Real Estate
  • Greater Philadelphia
Posted
My wife's grandparents hired Frank Lloyd Wright to design their home, which was built in the early 1950s.  It's a 4br/2.5ba 1700sqft Usonian style home with a great view (sorry, can't give away the location just yet!).  However, it needs a good $100-150k in repairs/updates, which may be significantly higher due to specialty construction.

Since the grandparents passed away, the children are thinking about selling.  Is it possible to ballpark the selling price of something like this?

Zillow's Zestimate says ~$350k.  A national auction house estimates $700k, and a local agent estimates $600k.  The nutball sister estimates $2 million.  It would be listed on one of the FLW sites, like https://franklloydwrightsites.com.  So, it's likely to be seen by some fans of Wright's work.

Is that $2m a realistic estimate for something like this, or is that just wishful thinking?

Thank you!

Most Popular Reply

User Stats

17,429
Posts
30,074
Votes
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,074
Votes |
17,429
Posts
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

A few years ago a Frank Lloyd Wright house that needed a bunch  of work in Chicago was listed for $175k. After a couple price drops it's sold for $135k.

Trust the agent, they're the professional.

business profile image
District Invest Group
5.0 stars
44 Reviews

Loading replies...