REAL ESTATE TOPICS...This is what $350,000 buys you in San Francisco’s crazy housing market

By Amy Graff

IMAGE 1 OF 8 | 16 DE LONG ST.

This two-bedroom, one-bath, 765-square-foot home on the edge of San Francisco's Mission District is listed at $350,000.

Fixer-upper is an understatement. This dilapidated shack at 16 De Long St., in San Francisco’s Outer Mission District looks like a tear-down.

The two-bedroom, one-bath “beauty” built in 1906 offers 765 square feet of living space and just went on the market for $350,000. That’s $458 per square foot, which might be considered a “bargain” since the average price per square foot in San Francisco is $957, according to real estate site Trulia.

“Distinguished home in need of work” reads the listing with Vanguard Properties. “Contractor Special.”

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With rotting wooden shingles, peeling paint and boarded-up windows, this home needs more than work.

Will this property go for more than the asking price? “It’s still a bit early to judge how high the price will go,” Vanguard realtor Brian Tran said in an interview. “We’ve had a lot of interest on the property but in this business we don’t know until we get contracts in hand.”

The owner hasn’t lived in the home for over seven years. “She is getting to that age where she would like to get the money out and relax,” Tran said.

Tran added that the home is an earthquake shack. These tiny homes were built after the 1906 earthquake to house people who lost their residences. Many still remain around the city and have been restored, updated and remodeled (see gallery above).

San Francisco is recognized as one of the most expensive housing markets in the country. With the median selling price hitting $1.175 million, prices rose yet again in June, up 17.5 percent from June 2014.