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223 Riley Road
Malone, NY 12953
$499,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
5944
Property Description
This remarkable, must see 4 bedroom, 3 1/2-bathroom Cape Cod style home has over 5,900 square feet of finished living area and is situated on nearly 18 acres of beautiful land, high speed internet and a Generac whole house generator. Since purchasing from the builder in 2020 the sellers have replaced all carpeted areas with high end plush, stain resistant carpet and waterproof padding. Glass shower doors and electrical outlets were added to the primary bathroom. The basement was also fully finished and has a carpeted stairway. The 16' x 44' space above the garage was insulted and totally finished into a woodworker's dream shop with drywall, electrical (110V and 220V), luxury flooring, wood cabinetry, built-in storage, a concealed duct system built for dust removal and countless outlets. It is accessible through the second floor of the house or stairs the sellers modified from the garage. This space would make a great guest quarter, theater room, hobby room, etc. Outside numerous trees and stumps were removed and the ground was leveled to enlarge the yard and driveway. A nice flower bed was added with new drainage and an automatic watering system was installed. Electricity and water were extended to accommodate outbuildings and a greenhouse for which gravel pads were also added. If you enter through the attached 32' x 48', 4+ heated garage with 12' ceilings and 11' automatic doors or the front foyer are in the 12' x 25' mudroom with a triple sliding door closet. You then pass through the laundry area, past the main full bathroom and the first of 4 gigantic bedrooms and enter THE 15' x 22' KITCHEN; it's a cook's dream with ample, modern, attractive cabinets with slow close door and drawers and a pantry cabinet. There is an 8' island, a 9' peninsula with breakfast bar, an additional 18' of counter space, and the 6-piece stainless-steel appliance package stays. The kitchen is open to the living room with a door to the front covered porch and the dining area with sliding doors to the back deck and patio area. The very impressive primary suite finishes off the first floor; it has an 18' x 20'-bedroom area and a 14' x 15.5' primary bathroom with double vanity, double walk-in shower, a corner jetted tub and walk-in closet. The second floor is equally impressive with 2 more 16' x 20' bedrooms with additional dormer space and walk-in closets, another huge full bathroom with double vanity, and linen closet. There is an extra room the sellers finished and used as another walk-in closet that leads to the finished space over the garage. We can't leave out the additional 2,100 square feet of finished walk-out basement that makes you feel like you're not in a basement at all; it has a 20' x 30' family room with a high efficiency gasification wood stove. From there you pass by a half bathroom with plumbing in place for a shower and touchless flushing toilet. The additional finished space has a wet bar and the bar can stay; it would make a great recreation or workout room. There is also a boiler room which houses the propane, zoned boiler that creates radiant floor heat for the garage and basement and baseboard heat for the rest of the home, the on-demand propane water is located there as well. The is an electrical room with two 200- amp circuit breaker boxes and the components for the Generac propane whole house generator. For efficiency this home has triple pane windows throughout, spray foam insulation throughout and has an air exchanger. There is a security system in place with cameras and alarms on all doors and windows (buyer would have to assume service contract). The remainder of the 17.9 acres has mixed forest with trails cut through it and an abundance of maple tree that could be tapped for sugaring. This phenomenal property is private, accessed by a 250' tree lined paved driveway and there are no neighbors in site. Qualified buyers are encouraged to schedule a showing right away to see all that this outstanding property has to offer.
Property Information
Lot Size
17 acre(s) square ft
Property Type
Residential
Year Built
2015
MLS Number
48549
Location
Address
223 Riley Road
City
Malone
State
NY
Zip Code
12953
County
FRANKLIN
Listing
Provider
Personalized Real Estate Solutions, original listing
Name
Personalized Real Estate Solutions
Phone
(315) 777-8995
Office Name
Personalized Real Estate Solutions
Office Phone
(315) 277-6685
Agent Name
Lori Snyder

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.