Last week's House of the Week was a lovingly maintained & restored Peekskill Victorian. This week, let's take a look at another Peekskill Victorian; one that is currently being renovated and offers terrific value.
This 1895 Victorian, located at 122 Nelson Ave., sits on a corner lot of approximately a tenth of acre. Most of that space is taken up by the house. It's surrounded by similar homes, as well as an apartment building across the street. Still, a nice, quiet area, just off Main Street (Route 6) and convenient to everything.
The house has more than 2,300 square feet of living space, 3 bedrooms, 2 full baths and 2 half baths. Period details can be see inside and out: parquet floors, fireplace, beautiful staircases, moldings etc. Quite a remarkable value for $225,000.
Why so cheap? Interesting story. This is a property that the owners tried to sell many times since 2005. Unfortunately, it went into foreclosure. It was then acquired with federal funding by Community Capital Resources, a not-for-profit organization. They, in turn, have arranged for complete renovation and marketing through the local Housing Action Council. Federal funds, dispersed via a neighborhood stabilization program also fund the renovation. Those funds are recouped in the sale.
The neighborhood stabilization program is mandated to encourage home ownership for middle income people. So it sets maximum income guidelines for the individual or family interested in buying the home. The upper income limits are: one Person - $90,660; two people - $103,620; three people - $116,580 and four people - $129,480.
The program also offers great support in the home-buying process. For more info on HAC, please see their website at http://www.housingactioncouncil.org.
The home is offered by Rose Noonan of the Housing Action Council. She can be reached at 914-332-4144, or email firstname.lastname@example.org.
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