Available Properties ‹ Historic Savannah Foundation

1402 Barnard Street

May 3rd, 2010

Rehabilitating an historic home allows you to have the modern conveniences of a new home with the style and elegance of a historic building, and for a much smaller investment. New construction can cost $150 to $200 per square foot, yet rehabilitating 1402 Barnard Avenue will provide more than 2,000 square feet of living space at less than $100 per square foot or as little as $50 per square foot with available tax incentives*.

Income-Producing Use (Rental Property)

Acquisition and closing costs	$75,000
Qualified rehabilitation expenditure	$100,000
Non-qualified rehabilitation expenditure	$20,000
Total initial cost	$195,000
Federal tax credit	$20,000
State tax credit	$25,000
Property tax abatement (savings)	$28,000
Total savings	$73,000
Cost of rehabilitated property*	$122,000

Owner-occupied (Single Family)

Acquisition and closing costs	$75,000
Qualified rehabilitation expenditure	$100,000
Non-qualified rehabilitation expenditure	$20,000
Total initial cost	$195,000
State tax credit	$25,000
Property tax abatement (savings)	$28,000
Total savings	$53,000
Cost of rehabilitated property*	$142,000

This house offers 2,080 square feet of space. The downstairs is set up for commercial space with open store space in the front and two offices or kitchen space in the back. The second floor is able to provide space for a two bedroom one bath apartment. The building sits on a corner lot right to the property line with a small rear yard.

Built c. 1900, this building is in the vernacular Italianate style. The building is located in the Thomas Square National Register Historic District making the building eligible for federal and state incentives to aid with the exterior and interior repairs in addition to local tax incentives.

Purchased by Historic Savannah Foundation in July of 2008, the building underwent stabilization in beginning in October of 2008. The building is currently stable and ready to be rehabilitated. The stabilization work included the following:

Price	$75,000
Square footage	2,080
Bedrooms/Bathrooms	2Br, 2Ba
Lot Size	28’x64’
Zoning	R4

*Cost of property after application of maximum Federal and State tax credits (can be amortized over 10 year period) and property tax savings (over an 8.5 year period) are applied. Click here and here for more information.

For more information or to schedule a showing, please contact Dicky Mopper at 912.663.5500 or dmopper@mopper-stapen.com.

1004 East Park Avenue

May 3rd, 2010

Rehabilitating an historic property allows you to have the modern conveniences of new construction with the style and elegance of a historic building, and for a much smaller investment. New construction can cost $150 to $200 per square foot, yet rehabilitating 1004 East Park Avenue will provide more than 2700 square feet of living space at less than $100 per square foot or as little as $65 per square foot with available tax incentives*.

Income-Producing Use (Rental Property)

Acquisition and closing costs	$95,000
Qualified rehabilitation expenditure	$150,000
Non-qualified rehabilitation expenditure	$30,000
Total initial cost	$275,000
Federal tax credit	$30,000
State tax credit	$37,500
Property tax abatement (savings)	$28,000
Total savings	$95,500
Cost of rehabilitated property*	$179,500

Owner-occupied (Single Family)

Acquisition and closing costs	$95,000
Qualified rehabilitation expenditure	$150,000
Non-qualified rehabilitation expenditure	$30,000
Total initial cost	$275,000
State tax credit	$30,000
Property tax abatement (savings)	$37,500
Total savings	$67,500
Cost of rehabilitated property*	$207,500

This house offers over 2,700 square feet of living space with three bedrooms and three full baths as well as two parlors, a living room, kitchen and dining room on the first floor. The home is situated on a corner lot with a large rear yard and lane access on a tree lined residential street in Savannah’s eastside.

Built in 1893-1898 for the Snedeker family, this home is a fine example of Victorian era architecture with some Gothic revival details. The interior still retains many of its character defining features including pressed metal ceilings and pressed metal wainscoting, stained glass windows through out and an ornate wooden staircase and balustrade and pocket doors. The home is located in the Savannah Eastside National Register Historic District making the home eligible for federal and state incentives to aid with the exterior and interior repairs.

Purchased by Historic Savannah Foundation in 2008, the home underwent stabilization in the summer of 2008. The home is currently stable and ready to be rehabilitated.

Price	$95,000
Square footage	2,767
Bedrooms/Bathrooms	3Br, 2.5Ba
Lot Size	89’x115’
Zoning	R4

*Cost of property after application of maximum Federal and State tax credits (can be amortized over 10 year period) and property tax savings (over an 8.5 year period) are applied. Click here and here for more information.

For more information or to schedule a showing, please contact Dicky Mopper at 912.663.5500 or dmopper@mopper-stapen.com.

802 West 42nd Street

May 3rd, 2010

Rehabilitating an historic home allows you to have the modern conveniences of a new home with the style and elegance of a historic building, and for a much smaller investment. New construction can cost $150 to $200 per square foot, yet rehabilitating 802 West 42nd Street will provide more than 500 square feet of living space at less than $100 per square foot or as little as $50 per square foot with available tax incentives*.

Income-Producing Use (Rental Property)

Acquisition and closing costs	$5,000
Qualified rehabilitation expenditure	$30,000
Non-qualified rehabilitation expenditure	$5,000
Total initial cost	$40,000
Federal tax credit	$6,000
State tax credit	$7,500
Property tax abatement (savings)	$5,000
Total savings	$18,500
Cost of rehabilitated property*	$21,500

Owner-occupied (Single Family)

Acquisition and closing costs	$5,000
Qualified rehabilitation expenditure	$30,000
Non-qualified rehabilitation expenditure	$5,000
Total initial cost	$40,000
State tax credit	$7,500
Property tax abatement (savings)	$5,000
Total savings	$12,500
Cost of rehabilitated property*	$27,500

This cottage has two bedrooms, a modest size living space and kitchen and would make a great starter project as well as a great starter home. The cottage rests on an ample corner lot that offers on street parking and a rear yard for off street parking. Built in the early 1900’s, as a one story single-family vernacular cottage, this home still offers its distinctive clapboard siding and some original interior features.

The cottage is a contributing structure within the Cuyler-Brownville National Regiseter Historic District, therefore making the home eligible for federal and state tax incentives to aid with the exterior and interior repairs. Purchased by Historic Savannah Foundation in 2008, the building underwent minor repairs after acquisition including securing all windows and doors to prevent vandalism. The building is currently stable and secure and ready to be rehabilitated. Work is ongoing to repair all windows and doors, some flooring, siding, roof patching and painting.

Price	$5,000
Square footage	576
Bedrooms/Bathrooms	2Br, 0Ba
Lot Size	45’x75’ corner lot
Zoning	R4

*Cost of property after application of maximum Federal and State tax credits (can be amortized over 10 year period) and property tax savings (over an 8.5 year period) are applied. Click here and here for more information.

For more information or to schedule a showing, please contact Dicky Mopper at 912.663.5500 or dmopper@mopper-stapen.com.

209 West 33rd Street

May 3rd, 2010

Rehabilitating an historic home allows you to have the modern conveniences of a new home with the style and elegance of a historic building, and for a much smaller investment. New construction can cost $150 to $200 per square foot, yet rehabilitating 209 West 33rd Street will provide more than 3000 square feet of living space at less than $100 per square foot or as little as $50 per square foot with available tax incentives*.

Income-Producing Use (Rental Property)

Acquisition and closing costs	$75,000
Qualified rehabilitation expenditure	$150,000
Non-qualified rehabilitation expenditure	$30,000
Total initial cost	$255,000
Federal tax credit	$30,000
State tax credit	$37,500
Property tax abatement (savings)	$25,500
Total savings	$93,000
Cost of rehabilitated property*	$162,000

Owner-occupied (Single Family)

Acquisition and closing costs	$75,000
Qualified rehabilitation expenditure	$150,000
Non-qualified rehabilitation expenditure	$30,000
Total initial cost	$255,000
State tax credit	$37,500
Property tax abatement (savings)	$25,500
Total savings	$63,000
Cost of rehabilitated property*	$192,000

This two story Victorian style house located in the Thomas Square Streetcar Historic District was originally built as a single family home and was later turned into multi-family residence with an entrance to the upstairs unit at the top of the interior staircase. The home offers over 3,000sf with three bedrooms and two bathrooms. The house is a high-style home with very high quality historic detailing throughout the home including coffered ceilings, wainscoting, mantels and leaded glass windows.

A fire in 2007 damaged the rear of the building and left the building vacant. The building is structurally sound but is in need of repair, mostly to the rear of the property and the roof. The roof and much of the back framing is currently being rebuilt due to the fire damage.

Purchased by Historic Savannah Foundation in July 2009, the building is currently undergoing stabilization but is available for rehabilitation during stabilization.

Price	$75,000
Square footage	3,148
Bedrooms/Bathrooms	3Br, 2Ba
Lot Size	45’x117’ corner lot
Zoning	RIP

*Cost of property after application of maximum Federal and State tax credits (can be amortized over 10 year period) and property tax savings (over an 8.5 year period) are applied. Click here and here for more information.

For more information or to schedule a showing, please contact Dicky Mopper at 912.663.5500 or dmopper@mopper-stapen.com.