This Syracuse Home Built In 1920 Is Listed At Only $12,000 But, There Is A Snag
Syracuse, New York. During the pandemic, nation home prices shot up, with 2021 seeing a 19% price gauge in just one year. So, this Syracuse home– listed at only twelve thousand dollars– is undoubtedly a head-turner.
But, there is one snag. The listing located at 105 Elk Street is in need of some serious tender, love, and care.
In fact, Greater Syracuse Land Bank– the nonprofit organization that listed the property– estimates renovation costs to near eighty-eight thousand dollars.
There are some other fine-print requirements, too. According to the listing, the home “must be owner-occupied or renovated and resold to an owner-occupant.”
In addition, any potential buyers must show proof of at least one hundred thousand dollars in the bank.
While these terms and conditions may sound strange, the Greater Syracuse Land Bank is actually working to reinvigorate the Syracuse housing landscape.
The upstate New York city has no shortage of abandoned properties, and the nonprofit aims to help bring these properties back to life.
If you can get past the serious need for some renovations, this Elk Street home does have some great potential.
Greater Syracuse Land Bank; pictured above is the exterior of the home
Sign up for Chip Chick’s newsletter and get stories like this delivered to your inbox.
The two-story home, built in 1920, is nearly two thousand square feet with four bedrooms and one bathroom. There is original woodwork intact throughout the home, and it even has an antique fireplace perfect for Syracuse’s famous winter nights.
The home is also only a few minutes away from the prestigious Syracuse University and all of its endearing nightlife.
So, if fixing up properties is your forte, this home might be worth checking out. Moreover, the Greater Syracuse Land Bank website features dozens of other fixer-upper properties priced similarly to this one.
Greater Syracuse Land Bank; pictured above is a view of the fireplace in the home
For instance, you could check out this two-family home on Richmond Avenue that is going for only one thousand dollars.
Renovation costs are a bit higher on this listing, though. Buyers can expect to spend nearly one hundred and five thousand dollars on bringing the home back to living condition and will need to show proof of funds yet again.
Or, for slightly lower renovation costs of about seventy-two thousand dollars, this three-bedroom home on Hudson Street might be for you.
To learn more about the historic Elk Street property, visit the link here. Or, to browse some more listings courtesy of Greater Syracuse Land Bank, visit the link here.
If true crime defines your free time, this is for you: join Chip Chick’s True Crime Tribe.
More About:Human Interest