Not $700k — $700k Below Tax Assessed Value

Where: 1415 June Ave., South Tyrol Hills in Golden Valley

What: 4 BR/5BA home built in 2002 with almost 5,400 finished square feet.
How much: $799,900 asking price; tax assessed value: $1.504M
When: originally listed for $1.679 million in March, 2009
Who: Listed with RE/MAX Results

Well, 1415 June Ave. (pictured above) certainly looks like a deal.

So what’s the story?

I haven’t been in, so that’s a big caveat.

However, the combination of lender approval (it’s a short sale), needed repairs, and a hefty tax bill (almost $24k annually, but certain to come down) aren’t helping.

Still, I’m not aware of a home sporting a bigger discount from tax assessed value currently on the market in the Twin Cities.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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