H&H Featured Home
1202 W 46th - $162,000
1108 square feet, two bedrooms, 1.5 baths, hardwood floors throughout. Arched doorways add to the character and charm of this classic home.
One of the two bedrooms.
Electric central heat & air with backup gas heat, gas cooking, convenient laundry room off master bedroom. Rear addition features bright, sunny office with attached half bath and exposed brick. Spacious fenced yard with a brick patio area for dining and entertaining and a lovely two-story garage. Brand new hot water heater installed 8/20.
Office Addition
Walk to O’Toole’s, Maldini’s, Forest Hill Park and Cielito Lindo & New Pizza Place That Shall Not Be Named (sorry, can’t bring myself to type it). In addition to zoned schools, Richmond Waldorf, Good Shepherd Episcopal and the new Patrick Henry Charter School are only blocks away. Perfect for first-time buyers and a great deal for anyone!
Anne Soffee is the Realtor handling this lovely home. No open house is currently planned but Anne is willing to meet a prospective buyer at the home at anytime. As an added incentive she’ll bring some fresh brewed Blanchard’s coffee so you can practice sitting on the porch drinking your morning brew. Contact Anne either by phone (804) 868-8163, or email anne@annesoffee.com.
If you are interested in being a H&H Featured Home drop me a line.
Cute house. Like the rockers on the front porch.
I think these posts are interesting because they demonstrate how many affordable houses there are in the city. For instances a mortgage for the full asking price, at 5%, would, I think result in a mortgage payment of about %850/month, which does not include insurance and taxes. Taxes on this house would be less that $2000/year.
Au contraire Sundagger! You must have forgotten that the City has most properties assessed too high. Taxes on this house are well over $2000.
According to the current assessed value of the house, the taxes would be $2148. It’s on the market for less than the assessed value, so in 2012 the new owners can appeal their assessment if it comes in too high. I’ve found the assessor’s office to be pretty easy to work with.
For what it’s worth, my house has recently been appraised at $20-30K less than my assessment. I may appeal next year, although from what I see in recent listings, the gap may be narrowing.
I was basing taxes on listing price, not assessment, since the assessment would be adjusted next year.
But my point is that there are some bargains out there for someone looking for a first home.
I’ve found the assessors office downright cruel. Two years ago I contested my assessment. I was actually burdened with an additional $10,000 increase in my assessment following my appeal. Now a house I paid $155,000 for in 2006 is assessed by the city at $199,000 and by the independent website Zillow.com at $138,000. When I contested my assessment I was contesting it being raised in 2008 or 09′ from 164,000 to 179,000. They raised it to $189,000 following my appeal for a grand total of increase in assessment value of $25,000 in one year about 1/6 the entire price I paid. By the way, my assessment went down $400 this year….very kind of them.
While the listing price is below assessed value be prepared to pay taxes on a property at what the assessment says or even higher because it appears when net contributors move into an area the city assessors’ office quickly realizes this and begins to gouge them accordingly. Be particularly cautious if this house has been renovated or “flipped” as was the case with my house because the improvement in the neighborhood will quickly begin to jack your assessments up.
Sundagger, while the city has an abatement program for improvements, renovations, and new construction, perhaps a program which guarantees a “locked in” tax assessment at current assessed rates for first time homebuyers or something similar would be a good piece of legislation for council to take up. This would guarantee the city would get taxes at the rates as they currently exist (or lower if the assessment was to fall I guess) and would ensure the homebuyer that their recognized contribution to improving the neighborhood with higher rates of home ownership is rewarded for 5 years or so with a guaranteed assessment. This could be a good program for most young couples who are seeking to purchase a home in the city or were on the fence about where to buy.
@ Sundagger – by “the assessment would be adjusted next year” you seem to imply that the City would reduce it because it sold for less than the assessment. Not so. Talk to them yourself – someone in your position should be aware of the methods used for assessments. I’ve been down this road too Willis.
I bought my first home a year ago (thanks to Anne, the agent selling this home).
There are a lot of good deals out there. As far as the cost per month, my mortgage (on a $140K house – 3% down) + 5% interest + escrow payments (insurance + taxes) = $950/month-ish, so the monthly for this place wouldn’t be much more than what I pay.
I like the suggestion about a locked in assessment for first time homebuyers. I suspect it is not permitted by state law. If someone knows of a locality in Virginia doing something like, please post it and let us know.