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520 S 46th Street
Philadelphia, PA 19143
$825,000
Conventional
Property
Bedroom
6
Bathroom
4
Property Type
Conventional
Square ft
3306
Property Description
**open house 6/9 cancelled** Set amidst the serene, tree-lined streets of Philadelphia's coveted Cedar Park neighborhood, 520 S 46th St presents an opportunity to own a stunning historic home with beautiful moldings, tall ceilings and large windows. Nestled on a tranquil block within the prestigious Penn Alexander school catchment. Upon arrival, the home's historic facade, tall ceilings, large windows that allow sunlight to stream in, and stunning woodwork are a nod to the home's 1923 provenance. This home encompasses three stories, with 5/6 bedrooms, and 4 bathrooms, epitomizing elegance, character and charm. Stepping through the sunlit covered porch and vestibule entry, you're welcomed into a spacious living area adorned with refined details, including a brick fireplace and ornate wainscoting. The home's historic character is further accentuated by stained glass windows, ornate crown molding, refinished hardwood floors with inlay and original millwork framing the bay windows and the staircase. The original pocket door with stained glass separates the living room and the large dining room with a stunning coffered ceiling and detailed wainscoting, a wonderful segway to the updated eat-in kitchen. The kitchen includes stainless steel appliances, gas cooking, side by side refrigerator, granite countertops and a double sink overlooking the deck and yard. Beyond, a private and welcoming deck and garden awaits, offering the opportunity for indoor/outdoor entertainment and dining. Ascending the stunning staircase, a generously sized guest bedroom is currently being utilized as a den. With hardwood floors, built in shelving, crown molding, and a charming decorative fireplace it is the perfect spot for cozy movie nights or would make a stunning bedroom. The remainder of the second floor is being utilized as a primary suite, featuring a spacious bedroom, adjoining office/dressing room and a sleeping porch- perfect for exercise, a sunlit sitting room or closet! The bathroom on this floor features an updated marble stall shower with charming vintage tile surround and soaking tub. On the third level, three additional bedrooms await. Each is generously sized and offers ample closet space. A hall bath is shared and features a claw foot tub with white subway tiles with black accents for a classic black and white aesthetic. A full size laundry room with sink completes this level. The walk out daylight lower level is partially finished and features a brick faced fireplace, tons of storage and a powder room! Outside, the vibrant Cedar Park neighborhood beckons, with its eclectic mix of shops, restaurants, and community parks. Conveniently located near major transportation hubs, renowned educational institutions and medical centers such as HUP, CHOP, Penn, Drexel, University of the Sciences, and Clark Park with its fabulous Farmers' Market and events. This historic home offers a rare opportunity to experience timeless elegance with all updated systems such as new roof (2023), new high-velocity HVAC (2022), and electric panel rewired (2023) in a thriving urban setting. This area qualifies for both Penn and Drexel's Home Ownership program grants for employees (confirm details directly with individual programs to see if you qualify).
Property Information
Lot Size
-- square ft
Property Type
Other
Year Built
1923
MLS Number
PAPH2356198
Location
Address
520 S 46TH STREET
City
PHILADELPHIA
State
PA
Zip Code
19143
County
PHILADELPHIA (SOUTH)
Listing
Provider
Berkshire Hathaway HomeServices Fox & Roach, Real, original listing
Name
Berkshire Hathaway HomeServices Fox & Roach, Real
Phone
Office Name
BHHS Fox & Roach Haverford Sales Office
Office Phone
(610) 649-4500
Agent Name
Lisa Ciccotelli

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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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Foreclosure Listings Increasing

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.