Monday, March 9, 2009

Reviving Cincinnati: 723 Mt. Hope Avenue, Part III

Price Hill Will's rehabilitation of 723 Mt. Hope Avenue has been completed for several weeks, and is on the market for $150,000.

Built in 1913 and once owned by the U.S. Department of Housing and Urban Development, the former three-family house was purchased for $17,000 from a buyer who lacked the resources to maintain it.

As part of its effort to increase homeownership and decrease blight in East Price Hill's Incline District, Price Hill Will has created a four-bedroom, two-and-a-half bath single-family home that features a huge living room, a large dining room, a refurbished basement, and a new outdoor deck.

New features also include roofing, mechanicals, windows, flooring, bathrooms, and Energy Star appliances.

Structurally, six steel rods were inserted into the masonry to address a large crack in the rear corner of the house.

A door on the northern side of the house was bricked in, and a second floor door was converted into a window.

Project funding came from the Housing Development Assistance Program, administered by the Ohio Housing Finance Agency.

Through this program, Price Hill Will is able to offer a 15-year, soft second mortgage that could shave an additional $30,000 off of the listing price.

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Previous reading on BC:
Reviving Cincinnati: 723 Mt. Hope Avenue, Part II (10/28/08)
Reviving Cincinnati: 723 Mt. Hope Avenue, Part I (8/4/08)