A mansion and a teardown: What $1 million gets you in Texas vs. California

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1813 Nantucket Dr. #A in Houston is for sale for $989,000. (Courtesy photo)

(NEXSTAR) – For nearly $1 million, you could live in a three-story, nearly 4,000-square-foot house in Houston.

For the same price, you could also be the owner of a San Francisco Bay Area home that needs a complete interior makeover and is located in an industrial part of town.

1813 Nantucket Dr. #A is a three-bedroom, four-bathroom home in Houston located near one of the city’s main shopping districts. It’s listed at $989,000.

The house is located in a “lock-and-leave community,” according to listing agent Samuel Carratala, and is zoned for “very good schools.”

It’s even got a massive pool with waterfalls and a fire pit out front.

For just $200 less, you could be the owner of 703 Flynn Ave. in Redwood City, a suburb in California’s pricy Silicon Valley.

This property is all about location. For $988,800, you’ll get an 890-square-foot, two-bedroom house that “probably needs another $200,000 put in,” according to broker Idean Pourshams of TuuKasa Co., a new real estate firm.

But this is California, and in the San Francisco Bay Area — home to lots of opportunities but lacking in affordable real estate — you’ll be paying the price.

At just under $1 million, the home is somewhat of a steal. The median home price in Redwood City is currently $1.7 million, according to Zillow.

“People think that they’re paying for living in California, but it’s important to feature the fact that we’re in a drought, living in California isn’t always the dream it gets promoted as,” Pourshams said. “And the truth is, prices are going up in other states because Californians are leaving, but it’s not reflecting in the prices going down here.”

If you had $1 million to spend, which property would you choose?

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