This 5-bed, 2-bath property in Orinda's El Toyonal neighborhood has potential for a flip, but with some caveats. Built in 1948, it offers 2,211 sqft on a generous 0.32-acre lot. Recently sold for $1.49M in July 2024, it's now listed at $1.63M. The price reduction of $24K suggests some market resistance.
Consider a conservative renovation strategy focusing on key areas like kitchen and bathrooms to boost appeal without overcapitalizing. The large lot size could be a selling point. However, with the recent sale and current list price close to the estimated valuation, profit margins may be tight. Carefully assess renovation costs against potential resale value.