I do a ton of domain searches daily. Used to have a more active thread here for available domains, now I just post them very occasionally... but if you go to the search bar and type in 'Bannen's Best available dot.com's list' you'll find around 50,000++ availables.
The reason I'm mentioning that is on the list, you'll find many, many available names that get into the thousands of exact monthly searches, and most of the names I post there get an Estibot valuation of the same or higher than yours. It isn't unusual, and a valuation doesn't mean you'll ever be able to sell the name. I come up with roughly 500 - 1000 decent available names each day now. By decent, I mean with a few hundred to a few thousand searches, and with Estibot valuations of $500 and up. Really, there are tons of them. Here, I'll give you a couple from this morning which I won't be regging:
LowProfileBracket.com - estibot $1200 searches 3600
SwingArmMirror.com
foldingTVtrays.com - 1300, and 1600
woodFoldingTable.com - 3000, and 2900
greenNetting.com - 1900, and 720
infuserMug.com - 1400, and 880
landscapingPond.com - 1500, and 480
You get the idea. I have thousands of those availables of that quality of searches/Estibot valuation. *Anyone can reg those above names if you like
When you reg a name to sell to someone, you need to ask yourself serious questions - like 'who would buy this, realistically?' and 'how much would anyone - like me - pay for such a name, realistically?', and 'what would anyone do with such a name, realistically?'.
Note that 'realistically' is the prime word here
If you gotta start inventing ways to develop the name, and spend hours at it and at trying to convince possible end users what they can use the name for, it isn't going to sell.
There are millions of street name combinations out there... ending in Ave, Avenue, Street, St, Circle, Cle, Place, Pl, Boulevard, Blvd, and dozens of other suffixes. It would be very, very rare for someone to say 'Hey, I live on XXXXX Street... so I'll get XXXXXst.com and develop a site around it!' It's just not realistic thinking unless that street is famous for some reason. And your end user base would not be rich people wanting to throw money at you for the dn and even the website... it would be people who might pay 50 bucks if they absolutely love love love the name for some unknown-to-us reason.
It isn't worthless; like I say, the name has a little artistic flair to it and with a lot of work you might make a tiny amount from it; but since it's being done for profit reasons by you, you need to look hard at your expended energy/cash versus the possible returns.
If you're bound and determined and you spend piles of time and cash on developing this, then it might pay off. Not because the name's particularly good, but because if someone is good at websites and marketing and SEO and has a great creative idea (not one we THINK is great, but one that IS great), ANY site will pay off with a large amount of work. Kind of. Probably. Maybe. If.
This isn't a note for or against what you're doing. Just a 'look deeply into your motivations, and what you realistically expect out of all your work, and what you think strangers might think of your site and would they really be interested in paying money for the name'.
Instead of treating it like an undiscovered gem that you polish and then the shininess will make you big money... treat it like a learning experiment. See what happens.
GL
Re: the other name - yes, avoid regging other peoples' names at all costs. It's just messy, not nice, often leads to loss of the name or even lawsuits. And avoid trademarked names at all cost as well. Trademark law for domain names has gotten very clear these days. Some get away with it, some lose their names, some get sued. In all cases, it's illegal for you to own a TM name if you don't have that term trademarked yourself. It's playing Russian Roulette to try get away with it. Same with regging peoples' names.