Curbed Comparisons: Which $750K potential Atlanta teardown should survive?

For this installment of Curbed Comparisons, we’re examining two properties that haven’t landed buyers in what’s an eternity in this market, continuing to linger unsold for more than two years.

Both listings reference the properties’ great locations, one within “walking distance from the Buckhead scene” and the other in the “desirable Jackson Elementary” school district.

Both also harbor no illusions about the homes currently on the lots, promoting each as possible renovations or teardowns.

A look at the listing photos for each property backs up this recommendation, as neither home offers much in the way of interior design or exterior landscaping.

The real drawback for both listings, though, could be their current asking prices, with each one at more than $760,000.

Let’s examine this in more detail.

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Heritage Select Homes

^3036 Slaton Drive N.W.

Bedrooms: 5

Bathrooms: 5

Square footage: 2,507

Price: $769,000

Neighborhood: Peachtree Heights West

Built in 1959, this brick ranch first landed on the market back in 2014 with a hefty price tag just shy of $1 million. After a $100,000 price cut, it scored a pending offer that apparently went south.

The listing was removed before reappearing two years later for $875,000. Since then, it has received three more price cuts, bringing it down to the current ask of $769,000.

Regardless, even though it’s within walking distance of The Shops Buckhead Atlanta and the Atlanta History Center, the property just won’t budge.

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RE/MAX Around Atlanta

^4390 Paran Place N.W.

Bedrooms: 4

Bathrooms: 4

Square footage: 2,787

Price: $765,000

Neighborhood: Mount Paran/Northside

This 1972 contemporary home originally hit the market in 2015 for a lower price of $649,900 but was bumped up to $725,000 just two months later.

Two years later, in 2017, it actually scored an offer that apparently fell apart.

So, of course, the price was bumped up again to the current ask of $765,000, where it’s lingered ever since.

Given that the listing mentions how this dwelling is “surrounded by multimillion-dollar homes” and is being sold “for lot only or as renovation project,” it’s not hard to guess the goal is to sell the property as a future McMansion site.

However, the message doesn’t seem to resonate with potential buyers, who have yet to make a move on it.