For Packers fans, it’s location, location, location

Oh for cute! A little two-bedroom bungalow. A typical starter home that should come pretty cheap.

Granted it’s not much to look at. There’s no landscaping and the gas meter in the front yard is a turn-off.

The kitchen is tiny, although it screams “Wisconsin“.

The bathroom? Meh.

Ready to make an offer?

It’s selling for $800,000.

Why? Because its backyard looks at Lambeau Field in Green Bay, according to the Milwaukee Journal Sentinel, which says neighbors are trying to cash in and putting their homes on the market, convinced that the next owner can make a fortune renting to Packers fans during the season.

“What I always tell sellers is this is a really small, niche market. There are only so many buyers willing to pay the exorbitant amount,” Steven Arendt, a broker, tells the paper. “Sometimes it takes a while to find these guys.”

The top assessed market value in the ‘hood is $400,000, but that has little to do with what a home will sell for.

There are going to be property owners that use it strictly as rentals,” said Lori Stephan, owner and broker at Country Pride Realty in Pulaski.

“Then there are property owners that want to flip it for a substantial amount of money, for a profit. Then there’s the family from wherever that are big Packers fans and want to use it for games.”

For $800,000?

“Sometimes I think it’s shooting for the stars and seeing where it ends,” another broker says. “Seeing Lambeau I think is key, and that they don’t have to walk very far is extremely important. Some people have been able to sell at a very good profit, no doubt.”

“The reality is, we are a very conservative city. People from larger cities come in and look at our prices and think they are peanuts,” she said.

  • MrE85

    For those who worship at the altar of professional sports, no sacrifice is too great.

    • Rob

      I think the house in question is located at 625 Jocksniffer Lane

  • Mike Worcester

    //“The reality is, we are a very conservative city. People from larger
    cities come in and look at our prices and think they are peanuts,” she
    said.

    Wow does my perspective need adjusting; $400K for a one car garage single level home with barely a yard? Yikes. I mean, I get that being *that* close to Lambeau is an advantage, but that much? No wonder why people spend so much of their monthly income on housing costs. Yikes…again…

    • $800,000. Not $400k

      • Mike Worcester

        I understand that, I was referring just to its assessed value, which still floored me. I won’t tell you what came out of my mouth when I saw the $800K figure. :O

  • Kassie

    That “tiny” kitchen is three times the size of mine. Not that I want to spend that kind of money on a place, but I’d totally take that kitchen.

    • QuietBlue

      Yeah, it’s at least double mine. I don’t think it’s tiny at all, but then I also think most new houses have absurdly oversized kitchens anyway.

      • Double the size of mine.

        /South Mpls Bungalow circa 1920’s

        • Kassie

          We have a 1920s bungalow too. It we be amazing to have that much cabinet space. We wouldn’t have to keep a pantry and the counter top appliances all in the basement.

  • Jeff C.

    It will be worth it if they include all the liquor in the kitchen. It takes up the entire counter!

    • X.A. Smith

      No doubt that’s the part of the kitchen doing the loudest screaming.

  • Gary F

    That’s a lot of money to spend to have people pee and throw up on your property 10 or so times a year.

    • I know! You can have that happen for FREE if you live near a bar in a college town.

      😀

  • Kellpa07

    That area is filled with places that rent out to fans, and many have put their kids through school with parking and backyard rentals for game weekends.
    My guess is that they are selling at or near the top of the market, because the Packer org has a whole bunch of the adjacent land that they are developing to hoover as much of the entertainment dollars that are being spent in Green Bay. This, after Brown County gave them a bunch of money for their renovation.

  • Jay T. Berken

    It doesn’t matter what the house really looks like on the inside. It’ll be gutted and bathrooms will be added with a bar and playing card tables on the floor level. The second level will have living quarters which the renter will have to leave for extended weekend on home game dates.

    • Must be nice to spend $800k on a house and then come up with the dough for a teardown/rehab.

      • Jay T. Berken

        I do not know what they charge for a weekend ‘Packers Experience’ at these homes, but I do know that the Packers themselves are trying to attract big money for their Titletown plaza which includes the four diamond Lodge Kohler. My question, growing up in Green Bay during the 80s, is who will really want to pay for the ‘Experience’ when Rodgers is gone.?

        To get to your question, a buddy of mine went to one of these party houses overlooking Lambeau that was put on by ESPN. It was gutted out and had a large room for a bar, card playing tables and a number of bathrooms. The ESPNs and other sports entities will rent these houses, but again, when Rodgers is gone, how long will the mythical experience of going to Lambeau last? There aren’t many large companies in Green Bay besides paper companies, food processing and healthcare.

  • Jack

    I’m in the market for a new bathroom but I don’t need the whole house. Just a bit out of my budget and a little far for the late night visits…..

  • AL287

    The price of that bungalow is almost 4 times the median home price in the United States. This has everything to do with prime land and nothing to do with the house itself.

    Is it any wonder real estate agents have such a bad reputation? They nearly plunged us into another great depression.

    Real estate agents in the US can take heart, however, because the new trade tariffs will do a lot more to put home ownership out of reach for the majority Americans.

    Hang on to your hats folks because the trade war is in its infancy and the stock market hasn’t hit bottom yet.

    Bad for everybody home owner or not.

  • Tyler

    Those are the empties from the last game.