The other day while touring a few places in the Skinker/Debaliviere neighborhood, I ran across this house on Waterman.
What’s intriguing about this property is the size, location and the projected value after rehab. It has 5 bedrooms and 2.5 baths, split among the three stories. It’s located within walking distance of Forest Park, Metrolink and Delmar Loop/Washington University amenities. Move-in ready homes of similar size in the neighborhood are going for about 250K and well done renovations for about 350K.
Don’t get me wrong, this house needs A LOT of work. Nearly every room has a laundry list of things that need to be done. One room has a small stage built with a stripper pole built in, with mirrored closet doors for that extra ambiance. The floor joists probably need to be replaced as the whole first floor is warped and a complete systems update would be a good idea.
It’s a huge amount of work that will probably take someone a long time to complete, but if you’re interested I’d suggest making an appointment with your Realtor and forming your own conclusions about it.
Click here to view 5826 Waterman in the MLS.