Though the MLS details on this listing describe a three-bedroom, two-bathroom Oakland home with a view of San Francisco Bay, in reality-- due to a fire-- what we have here is a melted manufactured home.
The asking price: $350,000.
There are a reported 1,248 square feet here of a home built in 1984 in Oakland's San Antonio Park neighborhood.
The lot is situated such that a car could access the home from either side of the property, either from the front or the back.
But these amenities do not overshadow the severe fire damage: burned-out rooms, missing walls, and melted interiors make this far from a turn-key home.
Clearly, the property is being sold as a demolition/rebuild opportunity. The listing language confirms that this is a: "Burnt manufacture [SIC] home ready for demo and rebuild."
The lot itself is 5,250 square feet and could indeed offer a bay view once the windows are re-installed.
It's also close to San Antonio Park with a community garden, tennis courts, a children's playground and walking paths.
For this opportunity, 1918 East 17th Street asks $350,000.
Is this the investment opportunity of the century?
Based on the last 30 days of market activity, the median list price in this zip code is $750,000 with a sale-to-list ratio of 121 percent (meaning homes are often selling way over asking).
It's difficult to comp out a burned manufactured home to sales of those not damaged by fire. We really should be comparing this listing with sales of open land, but there aren't any of those in this Oakland area either.
We can look at nearby sales: This similarly sized three bedroom in San Leandro sold for $635,000 this August.
More telling, a nearby Oakland home of 1,345 square feet on a very similarly sized lot (5,160 square feet) is listed for $725,000. And, Redfin estimates its true market value is closer to $757,000.
So then, is this tragic home on Oakland's East 17th Street the best way to get your foot in what is otherwise a very expensive door?
Bidding starts at $350,000.
Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert