Local houses currently available in the $4 million price range are hard to compare. Each has unique features that makes comparison an apples-to-oranges list.
For example, the house at 517 15th St. in Boulder is built around a restored 1900s cottage, and Chautauqua Park is close enough to basically be the back yard.
Boulder architect Harvey Hine designed the main structure to add onto the cottage, which was gutted but still retained the original stone facing. The cottage now is a family room for the main house.
“The owners were looking to buy or build a home when they came across this cottage,” said Firuzeh Saidi, associate real estate broker with Goodacre & Co. “They are connoisseurs of art and wanted to preserve the cottage.”
In addition to having access to the many trails in Chautauqua Park, the property is close enough to downtown Boulder and the highways leading everywhere else that its appeal kept them on-track with the project.
Determining how to price this property came down to estimating the cost for building a house like it today.
“No two homes in Chautauqua are the same, so it’s difficult to price them,” Saidi said. “Properties on Canyon go for $1,100 a square foot, and they aren’t even stand-alone homes. We put it all into a formula, and $1,000 a square foot was the minimum for a unique home in Chautauqua.”
At a finished square footage just under 7,000, the house is priced at $565 per square foot.
“The custom finishes are imported, and the house has no trim, which makes it harder to finish,” Saidi added. “The walkway to the house is even heated.”
Profiling ideal buyers is not what it used to be, she added. “The use of square footage has changed so much because many people go to places for six months of the year, work from home and want to have a lock-and-leave. This house is perfect for all of those things.”