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Bought for $635K, Seattle Floating Home May Earn Serious Profit

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Back in 1995, this houseboat slip at the Roanoke Reef marina on Seattle's Lake Union sold for just $30K. Now, the two-bedroom, three-bath houseboat is back, asking $1.675M. Of course, it is hard to tell if this particular floating manse, completed in 1982 and listed with no mention of a motor, will fall victim to new floating home legislation and well, be declared illegal. (UPDATE: It won't be! See below.) If that uncertainty is what's driving this sale, the owner may be willing to negotiate, especially considering he or she stands to make a massive profit on the sale, even with a drastic chop. The 2,000-square-foot houseboat includes a one-car garage and storage on shore.

UPDATE: The broker writes in with word that this floating home—not a houseboat, as the former is "permanently moored to [the] docks, connected to city water, and sewer"—will not be impacted by any pending legislation. So that's good news for the seller. What's not so grand is that the actual purchase price in 1996 was $635K, not the $30K recorded by Zillow.
· 10 E Roanoke Street [Redfin]
· The Great Seattle Floating Home War Of 2013 Has Begun [Curbed Seattle]