THIS HOME IS ONLY A GOOD DEAL FOR THE BUYER WHO INTENDS TO RENOVATE A HOME TO THEIR OWN TASTES. BUYERS WITH LIMITED FINANCIAL CAPACITY SHOULD LOOK ELSEWHERE!
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For the impeccably qualified buyer, I will consider a $1.00 per month rent-to-buy option to allow the buyer to make updates to the interior to the so they can move in upon closing. Four month rental maximum. I pay the taxes and water bills. You pay heat and electric. A non-refundable $5K down payment and purchase contract required.
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New roof and siding [2nd & 3rd Floors] installed in September 2009. A new chimney, hot water heater and aluminum flue liner were installed 072309.
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If you are a well qualified first time home buyer [$8,000 tax rebate] who would like to customize a 1900's home in this neighborhood, a FHA 203(k) Purchase & Rehab. mortgage along with the $1,500 Home Energy Tax Credit [Rebate] may be answer. See info website:
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http://www.first-time-home-buyer-solutions.com/fha-rehab-mortgage-program.html
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Otherwise, this listing is intended for families with a stong desire to customize a home in this West Side neighborhood to their own specifications. You must also have the financial capacity to take on a remodel project . If you do not fit this profile, you will be better served to look elsewhere. Good luck with your search!
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2009 sales in the area!
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48 Bennett Avenue, a bungalo style home, sold for $145,000 in August 2009.
14 Bennett Avenue sold for $140,000 in October 2009
62 Johnson Avenue, a Millard style home like 56 Bennett, sold for $150,000 in April 2009.
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Other asking prices on Bennett Avenue
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#19 - $209,000 - The same basic style as #56, but with a wrap around porch and expensive kitchen on corner lot.
#35 - $169,000
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56 Bennett is a Millard Style home located in the Abel Bennett Historical District, a Prime West Side location between Recreation Park and Riverside Drive. It was built around 1910. The district is on both the State and National Registers of Historical Places. There are no restrictions placed on owners of state and nationally registered historic properties. If you want a home in this area with your dream kitchen and bathroom, this may be your most cost effective opportunity!
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Total taxes are currently less than $2,800 per year.
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56 Bennett is the home with the flagstone [grey] siding pictured above. It is the same style as 53 Bennett , the yellow home pictured second above. Also pictured, 55 Bennett [Stucco and blue duplex] and 58 Bennett [white], then a view east on Bennett Avenue away from #56 and last a view toward #56 [fourth from left]. As you can see, I am selling the neighborhood as much as the house! [56 Bennett is the ONLY home pictured currently for sale]
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An online brochure for general information about the West Side is provided at the West Side
Neighboorhood Association's link: http://www.westsidebinghamton.org/index.html
This house is a good prospect for the family who does not have to live with someone elses used kitchen and bathroom or wishes to restore an older home in a historical district. BUT, YOU MUST HAVE A STRONG DESIRE TO CUSTOMIZE YOUR OWN HOME AND BE READY TO WORK WITH CONTRACTORS. IF YOU ARE NOT AT THAT POINT, 56 BENNETT IS NOT A GOOD PROSPECT FOR YOU.
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A sample of other single family sale prices on Bennett Avenue: #11 sold for $147K in 8/08, #13 [Millard Style] sold for $169K in 12/07, #16 sold for 145.5K in 10/07, #27 sold for $161.1K in 10/06, #70 sold for $140K in 6/05 - and Rod Serlings childhood home #67, last sold for $169.9K in 1991. http://www.danville.lib.il.us/Pathfinder/rodbin.html
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Other single family prices in the historical district:
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Davis Street: #24 sold for $197K in 09/08, #48 sold for $170K in 8/07, #49 sold for $142.5K in 9/08, #32 sold for $164K in 8/07 and #53 sold for $134.9K in 5/08
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Johnson Avenue: #24 sold for $139.9K in 2/07, #32 sold for $136K in 2/07, #60 sold for $121.3K in 12/07 and #62 asking $169.9K [Millard Stype] .
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Lathrop Avenue: #34 sold for $195K in 3/07, #44 sold for $163K in 5/07, #60 sold for $121.3K in 12/07 and #62 sold for $141.7K in 08/08.
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Leroy Street: #111 sold for $182.5K in 8/07, #124 sold for $229K in 8/07 and #126 asking $139.9K
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Lincoln Avenue: #35 sold for 139K in 5/08, #39 sold for $172.5K in 9/07, #49 sold for $132K in 01/08, #50 sold for $134K in 7/07 and #69 sold for $143.6K in 08/08.
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For a layout of the above streets click the blue MAP tab above.
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Home shoppers are encouraged to view open houses in the R-1 zoned [See WSNA site] sections of the West Side before considering 56 Bennett. Then, if you can't find anything that you will be happy with - you can better visualize how you would invest the purchase price differential into 56 Bennett. You will also be in a better position to determine whether a project like this is appropriate for your situation. It is reasonable to expect to spend more than the difference, but it will be new and done to your satisfaction.
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The house is located on a level section of Bennett Avenue and features a flat lot [50 by 125] that will easily accommodate a first floor addition [family room, office, etc.] or expansion as has been done to some of these Millard Style homes. The single car garage was removed leaving room for a two car garage. It is within one mile of two synagogues and two Roman Catholic Churches. A number of Protestant churches are within five miles. Lourdes Hospital is less than 1/4 mile away.
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56 Bennett is a well built home requiring a great deal of TLC in a nice quiet side street neighborhood as the photos illustrate. The new overbuilt front porch is over 90% complete. You can decide where you want the permanent front steps installed and you choose the style and materials for the post wraps and railings. Personally, I am considering Patio Enclosure Inc.'s Picket Fence screened-in porch option. The 2nd and 3rd floor shingles were replaced in September 2009 with CertainTeed Cedar Impressions Cedar Shake. The Cedar Shake was installed over 1 inch R-5 Dow styrofoam insulation to complement the insulation previously blown in the walls. The Cedar Impressions was the highest rated vinyl/plastic siding product in Consumer Reports June 2009 edition! The clapboard on the first floor is in excellent shape [needs fresh paint] on the three sides visible from the street and is OK in the rear where it has not been stripped and sanded down to the wood. The three roofs have been replaced [complete tear-off] with GAF Timberline 30 year shingles.
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On the first floor: The 12 x 12.25 kitchen is already gutted [$1,000- $1,500 saved in demolition and removal fees]. The 10 x 6 half bath is partially gutted. There is a 6 x 6 porch under the same roof as the half bath that can be enclosed to expand the half bath and/or kitchen if desired. There is a 13.5 x 12.25 dining room and 25 x 12.5 living room with a wood burning fireplace. Both have new plaster walls and oak floors. No foyer.
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On the second floor: There are three bedrooms with hardwood finished flooring. [14 x 12.25, 12.25 x 12 and 12.25 x 9.75] The 10 x 8 bathroom should be gutted and while updating it and the kitchen below, they both should be rewired adding outlets with GFCI breakers. The electrical service for the house requires upgrading at the same time. One new storm window, not installed is included in the price.
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The third floor is a single finished room with a solid stain hardwood floor and built in bookcases, but is not insulated. Three dormers provide windows toward the street [south] and the east and west sides of the house. Fore new replacement windows, not installed yet, for the side dormers
are included in the price.
The full basement houses an inefficient steam boiler [1960-70s vintage] feeding cast iron radiators on the three floors above. This can easily be converted to a high-efficiency hot water system. NYSEG will now offer $1K+ rebate for high efficiency boiler systems installed after July 1st, 2009 and the IRS will give a tax credit for 30% for qualifyiny boilers. The remodeler with vision may consider installing hydronic radiant floor heat for the first floor and the second floor bathroom for the maximum in comfort and efficiency along with the new furnace. The water service is new all the way to the water line in the middle of the street. There is room on the west side of the basement that can be converted to open living space [no posts, etc.] of up to 13 x 27'. This potential living space is not included in the estimated 1900 sq. ft. total. The third floor is!
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All the interior doors are original to the house and with the exception of the door on the stairway landing between the first and second floors, they are all still close to square.
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If you have a serious interest in a project like 56 Bennett, you may forward your questions to TSTRAZIK@NYSIF.com or call 607-741-3925 M-F from 8 AM - 3 PM.
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No realtors please!
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BINGHAMTON - One of America's Last True Bargains, per the NY Times
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http://www.nytimes.com/2005/10/23/realestate/23nati.html?pagewanted=print
