THE ULTIMATE LIST OF CHEAP OLD HOUSES UNDER $50K…and BEYOND ––>
Cheapish Circa 1890 Fixer Upper Victorian in Virginia $150K – 45 Min to Ocean Beaches
September 1, 2023
OHU50K Notes $150,000
The five bedroom, six bath fixer Upper Victorian may need plenty of work, but what is good about it is that the town has a historic tax abatement program. For those properties that qualify, the initial increase in the real estate assessment caused by rehabilitation will be excused for 10 years. If you fix the house up and sell it before 10 years, the abatement is transferable. It would be so rewarding to restore the stained glass, pocket doors, hardwood floors and all the home’s wonderful elements.
TOO MANY ABSOLUTELY STUNNING HISTORIC FEATURES TO LIST! COME FALL IN LOVE WITH THE CHARM AND CHARACTER OF THIS BEAUTY! THIS HOME IS A TRUE ESTATE AS A GRAND QUEEN ANNE VICTORIAN! LOADED WITH ORIGINAL FEATURES SUCH AS WAINSCOTING, POCKET DOORS, WINDOW SEATS, STAINED GLASS WINDOWS, CORBELS, BUTLERS PANTRY, FIREPLACES AND DECORATIVE WOOD DETAIL EVERYWHERE YOU LOOK! OVERSIZED WINDOWS AND SOARING CEILINGS ARE TO DIE FOR! CARRIAGE HOUSE IS APPROXIMATELY 750SF WITH PLUMBING, ELECTRICITY, HOT TUB, HALF BATH, BAR WITH SINK, FIREPLACE AND MORE! THIS IS YOUR ONCE IN A LIFETIME OPPORTUNITY TO BRING THIS SHINING GEM BACK TO ITS GLORY! BE SURE TO LOOK INTO STATE AND FEDERAL HISTORIC TAX CREDIT PROGRAMS AND THE CITY HISTORIC TAX ABATEMENT PROGRAM! ENTIRE PROPERTY, INCLUDING BUT NOT LIMITED TO APPLIANCES, HOT TUB, SECURITY SYSTEM, ETC TO CONVEY STRICTLY AS-IS – NO REPAIRS BY SELLER! WOWZER IN YOUR BROWSER!
If interested in a property, please contact the realtor whose link is provided in the post below, or contact an agent of your own choosing. Independent verification of details and status is recommended.
The City of Suffolk Historic Tax Abatement Program is a local government initiative aimed at encouraging the preservation and rehabilitation of historic properties within the city’s jurisdiction. The program provides financial incentives in the way of low tax assessment to property owners who choose to restore significant buildings.
A summary of the requirements to qualify for this exemption is set forth below.
Building should be at least 25 years old
Building should be improved so as to increase assessed value of structure no less than 40%
Total square footage of structure shall not be increased by more than 15%.
No improvements made upon vacant land, nor total replacement of structure shall be eligible
No property shall be eligible unless appropriate building permits have been acquired, and application for such exemption has been made by filing the application for exemption with the City Real Estate Assessor
In the 1910s to about 1933, this was the home of Thomas Henry Birdsong (1867-1933) and his wife Mattie, his eight children, Helen, Thomas, William, Hall, Frances, Howard and Mclemore and a servant girl. Mr. Birdsong was the Vice President of the National Bank of Suffolk.