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Noe Flipper Will Give You That $890K Paint Job for Just $639K

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Back in September 2012, a spacious, Mediterranean-style Noe Valley condo sold for $1.26 million. The 3-bed, 3-bath condo was in excellent shape, although the listing pictures were amateurish (think bathroom pics with the photographer reflected in the mirror). It already had an open floor plan, a fairly modern kitchen, and a groomed outdoor space. By late July of this year, it was back on the market and asking $2.15 million, an audacious gain of $890K for a property that had undergone very few modifications. The bathrooms look to have been remodeled and there are new coats of white paint in most of the rooms, but that seems to be it. A professional photographer was also used this time. However, potential buyers didn't go for the huge jump in price, and this week the condo took a big price cut of $251K to land at an ask of $1.899 million—still way above that 2012 price.

· 1138 Dolores [Redfin]