Chip and Joanna Gaines’ ‘Fixer Upper’ Bicycle House in Waco Lists for $550K
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One of Chip and Joanna Gaines’ Season 1 projects is on the market in Waco, but it could be a hard sell to those who aren’t Fixer Upper fans.
The house on 1403 N. Fifth St. was renovated by the Gaineses and dubbed the Bicycle House. Agent Josh Barrett with Turner Behringer Real Estate lists the house, which was built in 1910, at $550,000.
“We’re not selling it with the intention of someone to live there,” Barrett said. “It’s being sold as a business with all the furniture included and the financials meant to back the listed value.
“It’s not cheap, but the financials support the business because it’s been touched by Chip and Joanna.”
The three-bedroom, two-bathroom 1,516-square-foot house has plenty of the Gaines’ signature touches — shiplap accents and a country-style kitchen. Joanna added gold-toned decor, including a vintage bike that hangs on the office wall. The house is about two blocks from the Brazos River, convenient to the Gaines’ Magnolia Market at the Silos, and near hiking and biking trails of Cameron Park.
With all the charm, why would it be a hard sell?
First off, it would appeal only to fans or investors hoping to cash in on the Gaines’ involvement. The median home value in Waco is $126,300, according to Zillow. Specifically, in the 1400 block of North Fifth Street, the four homes that share the block have an average value of $145,418. We’re all aware of the property tax implications of a home that’s valued (not appraised) at $550,000.
Typically, Fixer Upper-renovated homes that are listed tend to evolve into rentals, vacation homes, or Airbnb destinations. In October, The List provided updates on past renovations that were listed. It included a few successes and a few projects that didn’t have a warm and fuzzy HGTV-style ending.
The Gaineses picked up the home in early 2014 for $44,900, according to Realtor.com. Formerly known as the Mailander House, it was put on the market in 2017 before owners listed it as a vacation rental. In April 2018, the home sold for $293,750, according to Realtor.com. The current owner continues to list the house for vacation rental while it’s on the market. On VRBO, the Bicycle House rents for $267 a night.
When it’s sold, “the bicycle will be included,” Barrett said.
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Hey, Tommy Cummings …
The asking price is the most stupid thing I have ever seen in the reality market! What are people even thinking to put that kind of price on an old house that is not even decorated with any taste. Chip & Joanna are OVER-RATED AND are NOT very smart when it comes to home purchase. The house they have in McGregor, Texas [that is rented out for an outrageous amount] is so close to SPACE-EX that walls shake & windows rattle during testing…which is approx 4 times daily. Wake up people!
I agree with everything that you said…….they are extremely over-rated. I find Chip to be enormously obnoxious.
If it’s not being renovated as a “house” but an office/ business space instead, Well that’s a bit misleading as most viewers (in my mind) are watching for their own home makeover ideas. As for Airbnb, personally I would not want to live next to a rotation of strangers. These opinions are just my own.
I cannot stomach the Gaines…..I find nothing appealing about their home transformations. I perused the cookbook by Joanna and found no inspiring or creative recipes. I believe they are and have been the flavor of the month. Personally,I find that all the stars of HGTV network have become rabid egotists.
Wow, the opinions expressed here are certainly vehement. Smacks of jealousy.
Staying in the house right now and I do have to say it’s time for Chip and Joanna to come back. House needs tens of maintenance and looks like it has not been touched since they left… And of course all the cool décor except for the bicycle has been changed out. Not really what we expected since we paid a premium price. Oh well, at least the Magnolia village didn’t disappoint.