Newton, MA

Would you pay $400k for this garage-sized tiny house? Banks won't finance the mini home, but cash will close the deal.

American Household News - with Cosmo Macero Jr.

With just 251 square feet of living space, 1295 Boylston Street in Newton, MA is about the size of a good one-car garage.

How much good living can you do in a house that's smaller than the typical garage? At least one home seller in Massachusetts thinks the little lifestyle is worth about $400,000.

That's the price range the seller and the home's real estate listing broker feel is appropriate for 1295 Boylston Street in the Boston suburb of Newton, MA. Currently priced at $389,900 - the listing was forced to come down from $449,900 because it became clear that traditional bank financing would be difficult or maybe impossible on such a small property.

“The home’s going to be difficult to finance if at all,” listing agent Hans Brings recently told the Boston Globe. “The key is that someone’s going to have to most likely buy it cash unless they have some sort of a local lender that’s willing to accept the size of the home.”

https://img.particlenews.com/image.php?url=4DxBZk_0caN75Q000
1295 Boylston Street in Newton, MAZillow.com photo

The property has nicely manicured grounds and, interestingly, three parking spaces. The tiny living space is considered open concept, and the kitchen area includes granite countertops, fairly generous shelf storage space and a stainless steel oven with cooktop. Sleeping space is accessed by ladder to a loft with skylight.

https://img.particlenews.com/image.php?url=0Qgiz7_0caN75Q000
Zillow.com photo

The Newton housing market is red hot right now like many communities in Greater Boston and other desirable locations in Massachusetts and New England. According to Redfin, 35 percent of all homes listed in Newton have an accepted within a week of going on the market. The median listing home price in Newton during the month of September 2021 was $1.3 million, according to realtor.com. The median price of all homes sold in Newton during that time was $1.2 million.

https://img.particlenews.com/image.php?url=3eygBZ_0caN75Q000
Zillow.com photo

At $1,553 per square feet, the tiny Newton home at 1295 Boylston Street is priced at more than three times the median listing price per square foot of $494.

https://img.particlenews.com/image.php?url=0mxIkc_0caN75Q000
Zillow.com photo

Comments / 6

Published by

Important trends. Inspiring people. Interesting places. Newsmakers, business leaders, authors, artists, and innovators.

Belmont, MA
1124 followers

More from American Household News - with Cosmo Macero Jr.

Comments / 0