If you have been wanting a mid century home in the tower district in Fresno, CA 93728, here is a remodeled one for you. Offered at $343,000, this 4 bedroom and 2 bathroom home has been fully remodeled. The list of upgrades is extensive and more than a typical remodeled resale home.
The composition shingle roof is brand new. The entire HVAC system has been fully upgraded from what used to be a swamp cooler to a roof mounted split system with all new ducting too! Moving on to other big ticket items, the floor plan has been updated in order to eliminate a useless pass-through room with two doors on both sides and turning it into its own private bedroom. The back of the house features a sizable master bedroom where two rooms were reconfigured to make one large master with a huge walk-in closet and private bathroom.
There is an isolated bedroom off of the main living area that would be good for a teenager's room, a game room or a guest bedroom. The exterior walls and most interior walls of the home are cinder block which should provide excellent insulation during the hot summer months in Fresno. This home is solid and wood destroying organisms won't cause the perimeter walls of this home to collapse.
The entire house has been painted inside and out. The exterior is a bright white to help reflect the intense heat in Fresno. All of the bedrooms have new carpets installed along with new lighting and hardware throughout the home. All of this is on a 9,100 sq. ft. sizable lot with 1,908 sq. ft. of interior living space. With a location close to Fresno's Tower District the Fresno Chaffee Zoo and two major highways, this home is centrally located to meet the needs of commuters and restaurateurs alike.
This home is a great value at this time at $343,000. To understand why it is a great value you can look at the mortgage history on this home. Back in 2005 a reverse mortgage was obtained. Typically reverse mortgages are done by people in retirement age where they borrow against their homes and give themselves a paycheck. In 2005 $353,400 was borrowed against the home and that was most likely at 80% loan to value ratio, since the banks would leave a little equity in the home. What is significant about this is that this means that the home was valued around $441,750 back in 2005. Now with the home being fully renovated it is offered for sale at roughly a 22% discount compared to its 2005 value. Combine that with our extremely low interest rate environment and there is great value to be had in this home today!