Townhouse in Rutland Square Up for Sale Again for $4 Million
It is not always easy to sell a property these days. Some owners have to keep trying their luck by taking the property on and off the market. While the Boston market remains hot for both sellers and buyers, there is still tough competition, particularly for the sellers. In the case of this townhouse in Rutland Square, it appeared in listings in 2012 and is back once again this 2017 for almost $4 million.
The History of the Townhouse in the Market
Rutland Square is a beautiful, historic area in the South End of the city of Boston. This townhouse has captured many people’s attention in 2012 but did not land a buyer. It made its reappearance in other years but is once again on the listings.
The current price is $3.85 million for the townhouse with 4,247 square feet. Although it has been on the market for quite some time, it did not lower its price. In fact, it is $100,000 higher than its listing price in 2016 before the property owner decided to remove it from the listings.
Special Features of the Townhouse
The townhouse is worth its price. It has a remarkable history as it has been around since 1865. What makes this property special is its humongous 450-bottle wine cellar. The spread offers four bedrooms with five bathrooms and a home theater as well.
Outside, prospective buyers can see a green garden and a parking space that can hold two vehicles at the same time. The townhouse is ideally situated at 14 Rutland Square.
This property has been dubbed as a man cave by some as it has features that single men would love. However, even females can go crazy over this stunner the moment they enter the foyer. There is gracious space for the entryway that leads to the formal dining room. The kitchen is quite large where eat-ins can be enjoyed. There is also the choice of walking out the deck that is connected to the kitchen area.
For the cook’s kitchen, there are custom cabinets, six burner range complete with double ovens, and quartzite counters. There is also a butler’s pantry where additional storage can be found. A half bathroom is also located in this part of the townhouse.
There is also a rear parlor living room that is open and inviting. Buyers can find here a wet bar, along with a full bath and a gas fireplace. At the front parlor den, there is another gas fireplace with spectacular Victorian details and accessories.
Prospective buyers will find the guest bedroom with ample of space. At this level, there are two large bedrooms, a laundry room, and a full bathroom. As for the master suite, there is a wall filled by the windows. A deep Jacuzzi tub is in the en-suite bathroom, along with double sinks and a separate shower.
Meanwhile, for those interested in buying the townhouse, they will also get a wide walk-in closet that comes with California Closet systems. Even better, there is a private roof deck where one can see gorgeous views of the city.
The townhouse also features a home gym, but it can be converted into another bedroom. There is also another bathroom on the garden level of the property complete with steam shower. As for the garden, it is professionally landscaped and leads to the car parking garage. Other facilities of the townhouse include great storage for those looking to store their items and a central air conditioning system.
How Does This Townhouse Compare to the Other Real Estate Properties in South End?
South End is one of the neighborhoods in Downtown Boston. Like the other ones in the area, it came from the same landfill development that eventually changed the Back Bay area into a housing district. It has a long history that started all the way from the Civil War era.
The architecture in South End, Boston is easily recognizable with its townhouses that are often fronted with brick bows. The townhouses in this part of the city were used as rooming houses after the Civil War Depression. It means that these properties served as a place where immigrants sought refuge during that time of the history.
South End has undergone a few major urban redevelopments in just a few years, making it a desirable location for those who are looking for a new home.
As of October 2017, there are about 11 homes for sale in the South End where 14 Rutland Square also belongs. At this time, there are about three new listings on the market, a number that decreased almost 67% compared to last year.
Nevertheless, competition is still tough as many of the listed properties are starting to decrease their asking price. Currently, the average asking price for every square foot in the area is $633.33, which can be deemed as high. However, the amount has actually decreased by $236 for the average list price in South End.
The average sale price though has experienced an increase of $38,080 as it is now $2,553,080. Compared to the asking price, the average sale price percentage has seen a 3.1% decrease as it is now 93.90%. As for the average sale price for every square foot of land, the amount has also decreased to $756.50. The average number of days it usually takes for a property to get sold on the market is 124 days, which lowered from 127 days during the month of September the same year.
All in all, the median home value in South End did not see any negative changes. In fact, it continues to soar compared to last year. It is predicted that the home values will keep increasing although it is not too high. When compared to the median list price in the entire Boston area, South End has a high list price per square foot. The same can be said for the rents in South End as the average price is $2,900. Meanwhile, the Boston median is only $2,700.
South End though is much cheaper than its nearby neighborhood Downtown Boston as the average home value index is $972,100. South End has $825,500. It is also cheaper than Bay Village’s median home value of $949,300. Back Bay also has more expensive homes with $869,300. However, South End has higher prices than the other neighborhoods, such as Fenway, Kenmore, and Beacon Hill. Compared to West End, South End has almost double the home value as the former only has $449,000.
While there are neighborhoods that may be more appealing for sellers right now, South End is actually quite balanced for the sellers and the buyers. It offers options for buyers, and at the same time, sellers can raise their prices and still find quality homebuyers.
Other Properties for Sale in Rutland Square
It is not surprising that the market is quite active in Boston, particularly in the South End of the city. Before the townhouse at 14 Rutland Square was put up for sale this year, another townhouse tried to lure people into buying it. The property is located at 25 Rutland Square, which spans 4,300 square feet and features six floors.
One of the most attractive characteristics of this townhouse is that it has a sundeck that has a sauna in it. There is also a lot of space for parking as it can hold up to five vehicles. The Rutland Square townhouse has two marble fireplaces, along with four full bathrooms and four bedrooms. The list of features does not stop here as there is another deck that offers 360 degrees of viewing pleasure of Boston. This townhouse obviously does not come cheap as the 107-year-old property is priced at $5.28 million.
Aside from these two townhouses, it is quite interesting to know that there was another one just by the opposite side of the neighborhood up for sale in 2015. At that time, the first man-cave townhouse was also up for sale. Located at 13 Rutland Square, the listed property has five stories and almost 4,000 square feet of space. This particular townhouse has ten rooms and five fireplaces that come with antique knobs, which are deemed to be historically correct according to the listing agents. The property also has new flooring, along with two parking spaces with temperature control.
It is not a newcomer though, just like the 14 Rutland Square townhouse. It was up for sale last August of 2010 in which it was priced at $2,150. Since there was no buyer at that time, it was taken off the market for a few years. Then, it was back after five years, and the asking price was $4,599,000. With the help of some upkeep and a little bit more patience, the price increased without turning off buyers.
It is possible that with the hot market, the $3.85 million townhouse will finally find its new owner. After its appearance in the listings in 2013 than 2015, 2017 may just be the year for this classic yet modern style townhouse.