An amazing deal auctioned today !!!!

[Pat L.]

We went to the no-reserve auction of the attached property to settle an estate figuring it would go into the $80-$90k range but we watched it get stolen for $40,000. The lot alone was worth over $40k.

http://www.cashauction.com/auction/261964/auction-to-settle-estate-home-contents-sold-separately/

The auctioneer wanted pre-requistite proof of $10,000 to allow you to bid so out of 70 odd people only several bothered to show the proof of funds per se. Only a couple of bidders showed any interest & it died quickly at $40k.

I was overwhelmed by the excessive engineering of this build. If only the architectural design was more in keeping with the neighboring classics. Regardless of the description on Zillow etc it was a 3 bedroom, 2 bath.

The home is late 1940's Art deco ugly but literally built as a bunker. All the floors & outer walls were solid poured cement NO CRACKS anywhere. All stair cases were supported on welded angle iron/steel framing & the basement had 9-10ft ceilings that showed the wire mesh & rebar used to support the poured floors. The basement was literally the size of the entire homes footprint & each basement window was 4widex6deep (egress comes to mind). But you could also drive a truck down into the basement from the rear access. The drainage was exceptional as the entire basement even at that entrance was completely dry.

From the basement the flooring support beams were welded 8inch steel trusses on 24inch centers supported on 12inch steel I Beams with a flange & web thickness running at least 3/4-1inch. The odd vertical supports were welded steel squares poles that were thick walled 8x8 welded to 2inch thick floor plates. I was surprised to see that they had recently installed a new $5,000-$6,000 hi efficiency multi zoned boiler system complete with a new 50gall HW tank. The entire electrical system had also been recently (& very professionally) upgraded to 200 amp, complete with a new NG Generator.

The exposed ceilings in the upper floors showed sold steel angled reinforcing of the rafters given the unusual flat roof configuration & our snow loads. This steel was very bright so I assumed it was stainless (vs galvanized) to avoid the rust from lower grade steel eventually leaching through the plaster ceilings.

I would love to read the original Abstract of Title as I assume that the original owner/builder must have owned steel & cement manufacturing plants.

This one definitely goes down as a missed opportunity for some!!!!