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Image 1 of / 25 Caption Close Image 2 of 25 Front door. Photos: MLS via The Open House.com Front door. Photos: MLS via The Open House.com Image 3 of 25 Living room an fireplace. Photos: MLS via The Open House.com Living room an fireplace. Photos: MLS via The Open House.com Image 4 of 25 Alt angle on that. Photos: MLS via The Open House.com Alt angle on that. Photos: MLS via The Open House.com Image 5 of 25 Image 6 of 25 Kitchen. Photos: MLS via The Open House.com Kitchen. Photos: MLS via The Open House.com Image 7 of 25 Alt angle on that. Photos: MLS via The Open House.com Alt angle on that. Photos: MLS via The Open House.com Image 8 of 25 Laundry area leading to backyard. Photos: MLS via The Open House.com Laundry area leading to backyard. Photos: MLS via The Open House.com Image 9 of 25 No expense spared on staging. Photos: MLS via The Open House.com No expense spared on staging. Photos: MLS via The Open House.com Image 10 of 25 Image 11 of 25 For the non-existent dog. Photos: MLS via The Open House.com For the non-existent dog. Photos: MLS via The Open House.com Image 12 of 25 One bath Photos: MLS via The Open House.com One bath Photos: MLS via The Open House.com Image 13 of 25 Bath again. Photos: MLS via The Open House.com Bath again. Photos: MLS via The Open House.com Image 14 of 25 2 bedrooms. Photos: MLS via The Open House.com 2 bedrooms. Photos: MLS via The Open House.com Image 15 of 25 Image 16 of 25 Garage. Photos: MLS via The Open House.com Garage. Photos: MLS via The Open House.com Image 17 of 25 Property view. Photos: MLS via The Open House.com Property view. Photos: MLS via The Open House.com Image 18 of 25 1.66 acres! Photos: MLS via The Open House.com 1.66 acres! Photos: MLS via The Open House.com Image 19 of 25 Property from another view. Photos: MLS via The Open House.com Property from another view. Photos: MLS via The Open House.com Image 20 of 25 Image 21 of 25 Guest house, according to listing. Photos: MLS via The Open House.com Guest house, according to listing. Photos: MLS via The Open House.com Image 22 of 25 Walnut orchard! Photos: MLS via The Open House.com Walnut orchard! Photos: MLS via The Open House.com Image 23 of 25 Aerial view. Photos: MLS via The Open House.com Aerial view. Photos: MLS via The Open House.com Image 24 of 25 Prime location Photos: MLS via The Open House.com Prime location Photos: MLS via The Open House.com Image 25 of 25 Vintage cottage in Atherton: Untouched since 1948 in every way, except the $5.895M price tag 1 / 25 Back to Gallery

This home, situated in one of the nation’s most expensive zip codes, offers a glimpse of old Atherton: it’s a modest two bed, one bath, under 1,700 square feet, with garage, chicken coop, and separate guest house/barn situated upon a walnut orchard. Other than some gratuitous staging (fake flowers, dog biscuits in a bowl for non-existent dog), 28 Selby Lane has been virtually untouched — and somewhat neglected — since being built in 1948. The only thing that points to change over time is the price tag for this property: $5,895,000.

In fairness, the value is in the land itself. Whatever you think of the house, it’s sitting on 1.66 acres of prime Atherton real estate. As the official MLS language goes, this “sprawling parcel in the heart of Atherton” offers a pastoral setting, “yet is just minutes from world-class dining, shopping and entertainment.”

In 2011, Atherton made headlines for being named the second most expensive zip in the USA. Today, the median home value here is $6,363,700, up over 15 percent year-over-year. Though the original sale records are too old to track, we can look at the last property tax assessment and get an idea of how excellent an investment this little home has turned out to be over time.

Tear down? Restore? What will the new owners of 28 Selby Lane do with this property? If they can afford to buy it at all, they can likely afford to do anything they want…and so too will the sellers.

Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twit ter: @AnnaMarieErwert