Amazing Opportunity In Lafayette Square: $235,000

Dawn Griffin Posted by
New Listings Oct 2009

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LOCATION: It’s a given that Lafayette Square is an amazing neighborhood. The property values tell that story clearly. There are few neighborhoods in the city that consistently support 500K+ values. But, at the risk of being redundant, let me chatter about this perfectly positioned place. Lafayette Square sits squarely between I-44 and I-64/40, providing easy access to downtown. The residential area surrounds a remarkably well revived commercial center which is home to Baileys’ Chocolate Bar, Sqwires, 1111 Mississippi, Park Avenue Coffee and much, much more. Living anywhere in this neighborhood means you can WALK to the park, a dry-cleaners, several restaurants and a coffee shop. The community aspect of The Square is hard to beat and is evidenced on their website. And at the risk of using Realtor speak, I must say: It is a truly sought after location!

For more on the neighborhood check:

History Reclaimed!

Living in Lafayette Square: Three Stories by KHDX Community Media students

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Interior Finish Quality: This home has been continuously occupied since 1887. To date it has had only 5 owners. Presumably each of them has done her (of the five owners only one has been a man) job as stewards of the architecture. All the doors are the solid wood originals each with original hardware. Every original hinge remains in this house. The built-in wood cabinets are still in the kitchen.The pocket doors are fully functional, sliding open or closed with the softest touch. The FOUR original fireplaces including surrounds, hearths and mantles are in immaculate condition. THE TRANSOM WINDOWS WORK! (sorry couldn’t help myself, most of the transoms I have seen are forever painted shut). Now for a list of the new: HVAC completely replaced 2002, Electrical Panel replaced 2002, Plumbing Stack 1996 (all the way to 2nd floor), EPDM roof replaced 2003, Gutters and Downspouts Replaced 2003, Brick Cornice Tuckpointed 2002, Mansard and Crown Molding on Cornice Painted 2004. Visit 1715 Hickory for more interior photos.

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Value: Below is a CMA report from the St. Louis MLS. Based on a map search of the Lafayette Square area, the numbers show that 1715 Hickory is priced to SELL. And this link will allow you to see photos of the comparable properties listed in the CMA. I won’t distract you with any of the values over 325K. (An MLS search revealed 4 sold properties over this cutoff ranging all the way to $806,250) Instead the CMA below shows properties that are very similar to Hickory in terms of size and approximate condition. At 60K below the average sale price for homes of this size, Hickory is a value. Price per square foot for Hickory is $97 where the average is $120. This is your chance to buy in Lafayette Square for a truly affordable price.

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