foreclosure

Foreclosure – c.1931 Tudor Revival in Saint Louis, MO Reduced

4549 Carter Ave, Saint Louis, MO 63115.   $39,900 Reduced to $32,500

Foreclosure

OHU50K NOTES

This sweet cottage was built in the Penrose neighborhood of Saint Louis in 1931. It currently is a foreclosure, and it was also a foreclosure in 1934 during the Great Depression.

Penrose History

Per the Missouri Historical Society via stlouis-mo.gov:

In the early nineteenth century, the area that now makes up Penrose was characterized more by land speculation than by actual settlement. The land took its name from Clement B. Penrose, whom Thomas Jefferson appointed land commissioner in 1805. Penrose lived on a nearby estate and was one of the region’s prime land investors. In the late 1880s, Penrose began to take on the contours of a community, when farmers and dairymen, most of German heritage, moved their families into the area. By 1900, the community, though still rural, was sufficiently settled to boast two German churches, St. Engelbert’s Catholic Church and Salem German Evangelical Church. With the 1920s, commercial development and transit lines raised land values around the northern edges of the city. Most of the Penrose subdivisions date from that era, when single family brick homes sprang up along Euclid, Shreve and Lee Avenues.

The early 1960s were years of transition for Penrose. As older residents moved out, African-American families moved in. The well-constructed houses were ideal for moderate-size families, offering many their first opportunity for home ownership. Middle- and upper-income African-Americans, including teachers, nurses and city and government employees, made Penrose their home. A significant number came from the Ville, located to the southeast and long the city’s premier African-American neighborhood. As Penrose’s African-American population increased from 33 percent in 1960 to 95 percent in 1970, African-American institutions helped solidify the neighborhood. St. Peter’s AME Church relocated to the corner of Shreve and Margaretta in 1962. In 1974, the Julia Davis Branch Library, its name honoring the well-known St. Louis educator, opened on Natural Bridge Avenue.

Penrose developed into a stable African-American middle-class neighborhood, but was nevertheless still “redlined.” Residents of the neighborhood were discriminated against by financial institutions because of the neighborhood’s location north of Delmar and were not able to get loans or insurance for their properties. In 1981, a chapter of Neighborhood Housing Services was started with the help of St. Engelbert’s Church. By 1989, this nonprofit partnership of residents, businesses, and government had made nearly $1 million in home improvement loans, much of it to senior citizens with modest incomes.

  • 2bed
  • 1bath
  • 1,062 square feet
  • Build date 1931
  • Google Map
14 Jan. 1934 St Louis Post-Dispatch

REALTOR COMMENTS

OUTSTANDING OPPORTUNITY!!! This bungalow is sure to please!! Home features hardwood floor throughout, large spacious bedrooms and a detached garage! Fantastic front porch, stained glass, original millwork, and updated electric panel make this one a winner!! Schedule a showing today!! Property is to be sold in its current as-is condition with no warranties or representations by the Seller. Seller will not make repairs nor provide any inspections. Seller’s addendum is required after terms of sale are agreed upon. Special Sale Contract (Form #2043) required. Proof of funds or pre-approval letter required with offer.

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