[Correction: Originally, we incorrectly estimated the increase in value here as around 99.99 percent; in reality, it’s accurate to say the value increased 99.99 TIMES, and 9,987 (or so) percent. We regret the error, as well as the shamefaced email we’re karmically obligated to send to our fourth grade math teacher.]
It’s been a while since we spotlighted a Tahoe home, and with the way things are going these days, who doesn’t dream of heading north and getting away from it all from time to time?
Up in Tahoe City, the one bed, one bath cabin at 2105 Woodleigh Road is on sale evidently for the very first time ever–you remember we talked about how those exclusivity appeals work to gin up interest in a listing.
This place is surrounded by woodlands on three sides, and it’s one of only two homes on the less than 500-foot length of Woodleigh Road to begin with. (Nearby Woodleigh Court provides some additional neighbors, though.)
Not to get too hung up on something so vulgar as money when we’re contemplating the serenity of nature here, but the history of this address does raise one potentially puzzling detail: It last sold in 1977, for the incredible sum of $8,000.
That would make the current $799,000 listing technically about a 9,987 percent appreciation on the original investment. Which is–and this our studied professional opinion that you can quote us on here–a lot.
There are two catches to be had of course, the first naturally being that $8,000 today is really not what it used to be–in ’77, that was the equivalent of about $37,000 in modern currency.
The other thing to note is that the same agent who furnishes that $8K figure also says the current owner built this place himself, so that was the price for the lot rather than the home.
Fo the curious, the median price of a California home in 1977 was around $62,000, or nearly $288,000 today. But we can confirm that an ice cream cone did not in fact cost a nickel.
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