According to CoreLogic, this 1920s villa in Prospect previously sold in November last year for $525,000.
Now it’s back on the market, with a price tag of $780,000 to $840,000, having been given a jaw-dropping makeover.
Selling agent Blake Scholz, of Ray White Unley, doesn’t like to use the term “flip” but confirms the house, at 1 Connaught St has been improved for resale by vendors who are highly experienced renovators with access to a team of professional tradies.
“It’s had a complete renovation from top to bottom — they’ve done everything,” Mr Scholz says.
“They (the vendors) have renovated a number of homes but they only do a couple over a year — they put their whole life on hold to renovate.
“It’s not a cheap flip — you can see the quality of it.”
Comparing images of the property currently listed on realestate.com.au to its previous advertisement from late last year, you can see it has been given a new frontage and paint job.
Inside, old carpets have been ripped up and either replaced or left to reveal floorboards that have been given a glamorous glossy, dark stain.
The floorplan has also been reconfigured to incorporate a luxury main bathroom with feature blue tiling, an ensuite to the main bedroom, and a new galley-style laundry.
A former retro timber kitchen with a lino floor has also been replaced with a new modern white-toned space with gloss cupboards, an island bench, stainless steel appliances including a dishwasher and a 900mm cooker.
Outside, a rear garden that was largely paved three months ago now includes lush green lawn and garden beds — and the same is true for the front.
Mr Scholz says the vendors even went as far as improving the council verge outside the home.
Necessary and often costly “hidden works” have also been completed, including rewiring and the installation of a new airconditioning system.
“The biggest difference is it didn’t particularly look like a character home (previously), even though it was one,” Mr Scholz says.
“They’ve brought it back to its former glory.”
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He says he has noticed a market swing towards renovated homes over the past 18 months to two years.
“A little while ago un-renovated homes would sell for almost the same as renovated homes — we had that Block effect,” he says, referring to the TV renovation show.
Now, Mr Scholz says buyers are realising the true cost, time and organisation involved in DIY projects and are less keen on them.
He says the renovated Prospect home is already appealing to a wide range of buyers, including downsizers and young families.
“It’s a real up-and-coming area,” he says.
“We’ve had a lot of inquiries and 20-plus groups through the first open.”
The home is for sale by private treaty.
According to CoreLogic, Prospect sits about 5km north of Adelaide’s CBD and has a median house price of $700,000.