Introduction
An intriguing opportunity is available for a historic property located in Syracuse, New York. Built in 1910, this home is on the market for a mere $1,000, albeit with substantial requirements for renovation and restoration.
Property Details
- Price: $1,000
- Location: Syracuse, New York
- Year Built: 1910
- Size: 2,722 square feet
- Bedrooms: Four
- Bathrooms: Two
- Zoning: MX1 (Allows commercial use)
Features
The house retains many original architectural details which include:
- Covered front porch and vestibule
- Hardwood floors
- Pocket doors
- Crown moulding and wide baseboards
- A grand staircase
- Double-parlor, formal dining room, and an eat-in kitchen on the first floor
- Potential space for a master bathroom on the second floor
- Rear enclosed porch on the second floor
Renovation Needs and Costs
Structural and Safety Concerns
- Major Concerns: Dangerous water damage to the structure
- Estimated Structural Repairs: At least $200,000
- Total Renovation Costs: Estimated between $400,000 to $500,000
Purchasing Requirements
- Proof of Funds: $150,000 bank statement required prior to scheduling a viewing
- Renovation Plan Submission: Buyer must provide itemized renovation specifications with proof of funds to complete the project.
Buying Process
- Property Purchase Application and Contract: Available on the website
- Offer Submission Deadline: First Tuesday of each month
- Board of Directors Meeting: Review scheduled for the third Tuesday of each month
Additional Information
Prospective buyers are advised that the property is being sold “as-is” without warranty or representations. Interested parties are encouraged to confirm all viewing dates and times.
Lastly, it was noted that this property listing was found on Old House Life. This serves as a reminder of the potential that such historic properties hold, reminiscent of similar projects like the Clarke House in Danville, Virginia.
