$499,000
It appears I was lying. Truth be told, I didn't know. I didn't know until the inspection report(s) came in. I claimed there were three options. I was wrong. There is only one, and that's option 3, the gut rehab. What the inspections revealed is that this house is tore up from the floor up. And what fifty showings have revealed is that the average homebuyer is overwhelmed by the scope of work necessary to return this home to it's former glory. So I now turn to developers, and my pitch to you is your finished product will come to market priced between $900,000 and $1,000,000. The only thing you have to figure out is how much it'll cost to get there.
Personally, I still think this is a great deal for an owner occupant; an owner occupant with a set of brass ones, big brass ones, and a close family friend who happens to own a construction company. Below, I have kept my original description, so you can see how a listing morphs over time...
Smack dab in the middle of the catchment area, let me introduce you to 4314 Pine Street. You have options here; you can spend nothing and move in, you can drop $100K and do some improvements, or you can go whole hog and end up with million dollar total renovation. All three options make sense. It's up to you, your needs and desires, and your bank account. Please take the time to take a good look at the myriad possibilities this home offers.
4
Beds
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4
Baths
4314 Pine St, Philadelphia
Listing courtesy of Common Ground Realtors. Contact: (215) 222-2300