Just a couple notes, the Mansion is valued at 220,000 for 2008. The Servants house, (200 s Main ) is valued at another 85,000 So the taxes would double (800/month) if the auditor raised the value to the sales price and they got what they wanted. Also, just converting the house to using high efficency gas furnaces would cut the gas usage in half. there is a similar style home - same sandstone construction- over 10,000 sf... and the guy's budget (as of august) is 900 a month for gas. A commercial geothermal furnace could get that down to the $300-500 a month range if the roof of that place is insulated and the single pane windows are restored, using double pane glass in the same sashes. Restoring the windows (without having to replace any wood, and not counting stained glass) would run 100-200 a window (from a quote i got last year )
If I was to purchase the place, I would actually hire the firm that worked on the Prescott House for a preliminary report. Chambers, Murphy, and Burge is a great restoration firm, located here in Akron Ohio. I personally know Mrs. Murphy, and I am friends with her Son.
The asking price- I think It is a little high. I have looked at historical homes all across the state that needed restored and that are done, and 650K for a house in need of restoration and repair is a bit much.
As an example, Look at the Foos mansion for sale in Springfield. 11,000 sf, restored. Purchased in 2001 for 450,000 ... was also restored in 2001 (don't know if it was the purchasers or sellers that did the work). The home went on the market last year with an asking price of $995,000- and didn't sell. It is currently in the low $700's and mind you, this is a commercial property that has been completely restored.
Just a couple notes, the Mansion is valued at 220,000 for 2008. The Servants house, (200 s Main ) is valued at another 85,000 So the taxes would double (800/month) if the auditor raised the value to the sales price and they got what they wanted. Also, just converting the house to using high efficency gas furnaces would cut the gas usage in half. there is a similar style home - same sandstone construction- over 10,000 sf... and the guy's budget (as of august) is 900 a month for gas. A commercial geothermal furnace could get that down to the $300-500 a month range if the roof of that place is insulated and the single pane windows are restored, using double pane glass in the same sashes. Restoring the windows (without having to replace any wood, and not counting stained glass) would run 100-200 a window (from a quote i got last year ) If I was to purchase the place, I would actually hire the firm that worked on the Prescott House for a preliminary report. Chambers, Murphy, and Burge is a great restoration firm, located here in Akron Ohio. I personally know Mrs. Murphy, and I am friends with her Son. The asking price- I think It is a little high. I have looked at historical homes all across the state that needed restored and that are done, and 650K for a house in need of restoration and repair is a bit much. As an example, Look at the Foos mansion for sale in Springfield. 11,000 sf, restored. Purchased in 2001 for 450,000 ... was also restored in 2001 (don't know if it was the purchasers or sellers that did the work). The home went on the market last year with an asking price of $995,000- and didn't sell. It is currently in the low $700's and mind you, this is a commercial property that has been completely restored.