$220k Gets You Stunning Built-Ins In 110-Year-Old Rochester Home (PHOTOS)
How can this small, but gorgeous and packed with goodies 1912 Rochester home (851 1st Street SW, Rochester, MN 55902) be priced at only $220,000? Is it haunted? Or worst, shtaunted? That's where the ghost was a comedian and does schtick constantly.
This 110-year-old single-family home has three bedrooms, one bath, and about 2,400 square feet of home on a 966 square foot foundation. A lot is packed into this space. like all kinds of built-ins. In the living room, the dining room (with a beamed ceiling no less), and even in the breakfast nook!
Just take a gander.
Amazing 110-Year Old Kutzky Park Home for Sale - Just $220,000
- Home is in the Community Land Trust program (homeowner owns home and improvements. $25/month land lease, Income guidelines)
- Amazing Balcony off of the master bedroom.
- All three bedrooms on the upper floor
- Bonus room on the top floor that could be a fourth bedroom.
- Original woodwork also stained glass.
- Sunroom off the kitchen and dining room
The Home Wins A Pretty Darn Good Walkability Score
The Price Is So Low Because You Don't Buy the Land
First, it's next to an old school apartment building, which probably has something to do with it, but really, the surprisingly low price comes from it being part of the Community Land Trust program run by First Home with the Rochester Area Foundation. That means you buy the home but not the land. The land, often a very expensive part of the purchase price, is owned by the trust, you just rent the land.
From their website:
"A Community Land Trust (CLT) creates affordable housing by taking the cost of land out of the purchase price of a home. It keeps housing affordable for future buyers by controlling the resale price of houses on CLT land through a ground lease and resale formula.
Home owners leasing CLT land under their home enjoy the security, control, tax advantages, and ability to build equity just like any homeowner. If they sell their home, the resale formula insures that the home remains affordable for the next family."
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If you have a hankering to buy the home and sit on the back patio, here are the snacks to buy for the occasion.