Housing
A Toledo Castle on the Market for $99,995
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People who live in the Toledo, Ohio, area or plan to move there can buy the six-bedroom castle at 2272 Scottwood Ave. for $99,995. The drawbacks are that it is in the battered city of Toledo and that it has to be “fixed up” to the tune of several tens of thousands of dollars.
According to Realtor.com, the house was the most searched at its site last week. And people want to see the home in the flesh:
The listing agent told us a recent open house attracted more than 1,000 people over two days. He added that this mansion would be worth millions if it were in a major coastal metro—making it a savvy purchase for a buyer who doesn’t mind summering on the Maumee River.
Listing agent Ben Howard told Realtor.com:
[T]he owners rescued the home from foreclosure a couple of years ago and have spent about $75,000 updating the home’s mechanicals, electrical, and plumbing. As he put it, “The boring stuff is done.”
Toledo has a population of 279,000. Like many industrial cities, it lost many of its residents. The city had a population of 384,000 in 1970. Its median household income was $32,000, according to the last Census, compared to a U.S. average of over $51,000.
Jeep was the city’s largest employer for years. The Fiat Chrysler brand has pulled many jobs out of Toledo recently. The city says 9.8% of its homes are vacant, a total of nearly 10,000.
The mansion is more expensive than other houses in its neighborhood and the city. The Old West End, where the house is located, has a median home price of $62,900. The median price for all cities in Toledo is $79,900.
The listing:
Must see grand mansion of the OWE. Almost 6,000 square feet of finished space ready for a new owner. Huge grand staircase, ballroom sized living room, 6 bedrooms, 3.5 baths, finished billiard room in basement. New Pex plumbing, All new forced air ductwork with NEW AC and Furnaces, updated wiring, ready for the right person to finish the project.
The house was built in 1909. Too bad it’s in Toledo.
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