Sure, the house is in a nice area, but does that justify the pricetag? This house was asking for an unjustifiable $675K until a couple of weeks ago, when it dropped $100K from the price. A week before that, this house was asking $875K. In light of previous pricing, $575K seems almost reasonable, but it's still a lot to ask for a house which needs a lot of work.
When trying to sell a house like this, brokers often turn to their cheery outlook on life to make the whole situation seem a bit brighter. Though the place is currently zoned incorrectly (for seven units), it has "the potential" to become a three unit building.
Major selling points include the first floor's charming lavender exterior, and the fact that this place has a yard.
· 517 Fitzwater Street[Trulia]