One-Family in Bay Ridge in need of TLC, $868K

Is this the deal of the year? A one-family in Bay Ridge for under 900K? This brick attached 2-story plus basement home at 529 77th street in Bay Ridge is centrally located and close to transportation. It has four bedrooms and one bathroom on the upper floor and living room, dining room and kitchen on the main floor. There’s a half bath in the basement.

The listing is scarce in a description but does say “Bring your contractor or an architect” and ” you are an end user looking for a project to GUT and the vision to bring your dream home to life, or you are an investor looking for a fix and flip”. Which leads one to assume this house needs a total overhaul!

Unfortunately, there isn’t a lot of photos in the listing to determine how much work, but if it is in need of a total gut renovation (roof, electrical, mechanical, windows, kitchen, bathrooms, etc.) then expect to invest six figures to renovate.

So, is this house, with all the work it needs, still a bargain? Will the added renovation costs bring it close to what other attached one-family houses (without a garage) in this neighborhood are selling for (there are a few at the one million dollar price)?

If this house can be bought and renovated for under 950K, I’d say consider yourself a savy buyer.

There’s an open house tonight, June 12, 6:00pm – 7:30pm.

(listing) https://www.corcoran.com/nyc-real-estate/for-sale/bay-ridge/529-77th-street/5771023