584 10th Street is kind of a dandy, kind of generic, as we wade through the series of listings here in South Slope. This one stands out because of its handsome brick curb appeal, location close to Prospect Park up the Slope between 7th and 8th Avenues, on a great block, with a modest renovation.
What else stands out? The price.
$1.675M is good pricing, but do you get what you pay for? This feels like Park Slope premium for the location and block it's on. Nothing's wrong with a 20' wide house, per se, but the "1.5 bedrooms" on the rentals leaves us wanting more.
For this same money, 407 Sterling is more house and a better play. Or, if you're married to Park Slope, then you might be better off strolling on down to 286 10th Street. It depends on your priorities. This might be a dinky house as $1.675M goes, but this might also be a nice pick up for the block it's on. Who's to say? Justice is blind:
Even the listing itself makes a fair assessment of the rental prospects with the modest claim, "offset your living costs with rental income."
Pro's: curb appeal, proximity to park, nice block, garden
Con's: only so-so renovation for the price, 1.5 bedroom rentals, Park Slope premium
Ideally: This amount of money gets ya lots of house these days. Make sure you really wanna be in the slope before you commit.
According to the listing, this property is in contract:
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Closed for its $1.675M asking price on 4/28/2011
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