Property Values – What You Get for … $1.1 Million


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Tom Strattman for The New York Times

A four-bedroom four-and-a-half bath house on Geist Lake in Indianapolis is on the market for $1,100,000. More Photos »

WHAT: A five-bedroom three-and-a-half-bath bungalow a block from the Minneapolis city limits
INTERIOR: 3,600 square feet
HOW MUCH: $1,095,000
SETTING: Edina’s South Harriet Park neighborhood has wide streets, but few sidewalks, according to the listing agent. In colder months, children go ice skating and play hockey at a rink in nearby Arden Park. Shops and restaurants in downtown Edina are within walking distance; Minneapolis is a 15-minute drive. Minnehaha Creek, a tributary of the Mississippi River, runs through the back of this property’s lot.
INSIDE: The entryway has reclaimed beams and European tile. The living room has original oak floors and a working wood-burning fireplace. A reading nook off the living room has built-in shelves and hexagonal clay tile floors. The master suite, on the first floor, has built-in shelves and French doors leading to a sunroom. Also on the first floor is a dining room, a powder room for guests, and a family room with casement windows and a vaulted ceiling. Upstairs, there are three additional bedrooms and two additional bathrooms.
OUTDOOR SPACE: Just outside the sunroom, a wooden deck overlooks the creek. A small house, originally built as a playhouse for the owner’s children, now has screened windows and a sitting area. The property has a two-car garage. The house was built in 1938 and has a wood shingle roof.
TAXES: $11,157 a year
CONTACT: Anne Shaeffer, Lakes Sotheby’s International Realty, (952) 230-3100;
WHAT: A four-bedroom four-and-a-half bath house on Geist Lake
INTERIOR: 5,484 square feet
HOW MUCH: $1,100,000
SETTING: This three-level A-shaped house, which has a painted brick exterior, was custom built in 1994 for the current owner. It overlooks Geist Lake in a residential neighborhood 35 minutes drive from downtown Indianapolis. According to the listing agent, owners of houses on the lake sometimes boat over to a marina for a meal in the restaurant there. Although it’s quiet during the week, the agent said that on the weekends the lake is lively with sailboats and jet skis. Shopping malls are a 15-minute drive.
INSIDE: The great room has a 26-foot ceiling and floor-to-ceiling windows overlooking the lake. There is a wood-burning fireplace, and an open kitchen and dining room. A family room has built-in shelves and cabinets to hold an entertainment system. The master bedroom is on the first floor, along with an en suite bathroom with marble floors. Also on the first floor is a powder room for guests. The walk-out level has a media room with a wet bar, a wood-burning fireplace, a kitchenette and a full bath. There are three additional bedrooms and two bathrooms.
OUTDOOR SPACE: There is a wood deck off the main level; a swimming pool is accessible from the house’s walk-out lower floor. A lawn slopes down to the lake, where there is a boat dock with a lift for moving boats in and out of the water. The three-car garage is heated.
TAXES: $7,724 a year
CONTACT: Joel Woelfle and Dick Richwine, Century 21 Realty Group, (317) 590-8200;
WHAT: A three-bedroom three-bath riverfront hacienda-style house
INTERIOR: 3,850 square feet
HOW MUCH: $1,097,400
SETTING: This 2001 stucco house, 30 minutes drive from Austin, was completely renovated in 2008. It sits on four and a half acres flanking the Pedernales River. Lake Travis is a 15-minute boat trip. The Spicewood area is home to many ranches and waterfront recreational properties. Although Spicewood has restaurants, the closest grocery stores are 15 miles away in the town of Bee Cave.
INSIDE: The house’s interior walls are hand plastered, with glass blocks placed at intervals to take in natural light. The living room has a double-height ceiling with exposed beams, and a fireplace mantle made from a rough-hewn cedar log. There are decorative niches in the wall above the mantle. The kitchen has granite countertops and a commercial gas range. The main floor also has a dining room, an office and a media room. Travertine tile runs throughout the main floor; the stairs and second floor are hardwood. The master bedroom has floor-to-ceiling windows, and an en suite bathroom with a claw-foot tub and a separate shower stall. Two additional bedrooms are on the second floor.
OUTDOOR SPACE: A hot tub on the terrace outside the master bedroom, and a swimming pool below. The pool deck is made of Oklahoma sandstone and overlooks the property’s boat dock on the river. The property has several mature oak trees, and facilities for horses. There is also a three-car garage large enough to hold a recreational vehicle. The property is fenced and gated.
TAXES: $14,250 a year
CONTACT: Lynn Robin, Capital City Sotheby’s International Realty, (512) 261-0008;

More proof that Rancho Santa Fe real estate is under valued, and why I continue to be passionate about working and living in Rancho Santa Fe, CA.  Year round paradise.   Thanks.

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