Real Estate

This historic Syracuse home is yours for $12K — but it comes with a big catch

This Syracuse, NY, stunner seems to have it all: stately original woodwork, leaded glass windows and an antique fireplace — all for a jaw-dropping asking price of $12,000.

But do you really have what it takes to buy this Old World, four-bedroom spread?

Located at 106 Elk St., roughly five minutes by car from Syracuse University, the listing for this property says it must be owner-occupied — or renovated and resold to an owner-occupant.

However, flip through the listing photos and you’ll see the home needs some work done — a renovation estimated to cost about $88,000, the listing notes.

What’s more: Whoever wants to buy it needs to show proof of $100,000 in their coffers.

The home is for sale through the Greater Syracuse Land Bank, a nonprofit organization that aims to bring abandoned properties back to active use, whose website advertises dozens of fixer-uppers for sale around the Central New York city. Some of them are priced as low as $1,000, and similar to this Elk Street manse, they also require big-time proof of funds. One, at 323 Richmond Ave., requires $105,000 in the bank. Another, at 126 Mckinley Ave., requires a much higher $189,000.

You'll need more than just $12,000 to buy this Central New York home.
You’ll need more than just $12,000 to buy this Central New York home.
Jam Press/Greater Syracuse Land Bank
The property comes with a number of original wooden touches, such as this mirrored fireplace on the first level.
The property comes with a number of original wooden touches, such as this mirrored fireplace on the first level.
Jam Press/Greater Syracuse Land Bank
A staircase with an ornate wooden balustrade connects the two stories.
A staircase with an ornate wooden balustrade connects the two stories.
Jam Press/Greater Syracuse Land Bank

A representative for Greater Syracuse Land Bank did not immediately return a call seeking comment on the Elk Street listing.

The Elk Street home made its way to the popular @syracusehistory Instagram account last week, sharing a video of a walk-through with its nearly 50,000 followers, which earned some 2,400 likes. And while the video opens showing the property’s eye-opening exterior, the inside will require a skilled builder’s touch.

Updates will require bringing the kitchen back to shape.
Updates will require bringing the kitchen back to shape.
Jam Press/Greater Syracuse Land Bank
The kitchen will require new appliances and a new floor.
The kitchen will require new appliances and a new floor.
Jam Press/Greater Syracuse Land Bank

Beyond handsome wooden doorways and a wooden staircase — as well as original door hardware and seemingly original brocade wall coverings behind a layer of paint — the video also shows a state of slight disrepair. Layers of paint peel away from some walls and ceilings, some carpets require replacement, while one carpet has peeled away to show the original thin-strip hardwood flooring — a typical early 20th-century design touch in this neck of upstate New York — that visibly needs to be refinished.

Still, that didn’t stop commenters from sharing their love for the home.

“Wow! Whoever buys this and restores it will have an incredible home! It’s gorgeous even now,” wrote one commenter, while another said, “Man if I still lived in Syracuse I’d buy this in a heartbeat.”

The house has four bedrooms and one bathroom.
The house has four bedrooms and one bathroom.
Jam Press/Greater Syracuse Land Bank
There's one full bathroom inside.
There’s one full bathroom inside.
Jam Press/Greater Syracuse Land Bank

The listing images themselves additionally show a kitchen with outdated appliances and a tile floor in need of replacement, but they also zoom in on envy-inducing details, such as scalloped woodwork and red shutters that dress the façade.

As for other features, the listing says the kitchen has a butler’s pantry. There’s also one full bathroom, a shared driveway and 1,920 square feet of living space across a 5,080-square-foot lot.

Also included: a backyard.
Also included: a backyard.
Jam Press/Greater Syracuse Land Bank

In a follow-up post, @syracusehistory shared a photo slideshow of this home, and even revealed details of its past. The account notes a woman named Harvelia E. Hammons owned this house for decades until she passed away in 2018 at the age of 100 — adding she’s the one to be credited for keeping its original features in good shape. She worked for General Electric for 35 years and was a congregant of the nearby People’s AME Zion Church.

“Thank you for highlighting her story,” wrote one commenter. “I wonder why her family if she had any didn’t hold onto the property? That home is a legacy home like so many that you post.”

Products You May Like

Articles You May Like

Debt Strategies For Real Estate Investors
US Housing Markets Plateauing, Slowing, Falling to Obliteration: Housing Bubble 2.0 – Housing Crash
Elon Musk & Jeff Bezos Sound Recession Alarm: Housing Market Plunges
Brooklyn’s trendy retail districts boom as Manhattan’s sit vacant
How We PAID OFF Our 5 Rental Properties

Leave a Reply

Your email address will not be published. Required fields are marked *