For sale by owner.  23 Pond Street,  Greenfield, MA . Asking price $95,000

SOLD

We will hold an  Open House on Saturday June 25th, 2022 from 10 am – 1 pm at 23 Pond Street in Greenfield, MA, Franklin County.

If you’re interested in purchasing the house after viewing it you can apply  (by July 1) with this form:

This is a  120 year old, 1650 square foot home in Greenfield, located in a quiet residential neighborhood, a fifteen minute walk from the center of town. The house features some beautiful interior woodwork and detailing not found in newer homes. It was entirely rewired less than ten years ago, and also has a recent furnace.

The  house could use a new roof soon, and buyers would be well advised to obtain a professional house inspection before completing any purchase.

Purchaser will be leasing the 10,000 square foot house lot that the home sits on.  This land is owned by the Valley Community Land Trust.  View a sample lease here.  The lease is for 99 years, and is inheritable and renewable. Our lease is currently undergoing a major revision, and when the new lease is finalized, we hopefully within the next year, the buyer will have the option to update to our new lease.  Current monthly lease fee is approximately $70/month covering land use and admin costs, but not taxes.  This lease fee cannot be raised at a rate higher than the general inflation rate over time.  Taxes on the home and land are paid directly to the town of Greenfield. Home owners rights to use the home  and land are governed by the lease with VCLT. VCLT’s goals include long term affordability of housing on its land, and assuring sustainable use of its land.  Among the lease’s  requirements are that the owner occupy the home a minimum of six months of the year.

Homes located on VCLT land are subject to a resale restriction that removes the land from the sales price. This sales value and future sales are limited to the appraised value of the buildings alone. For point of comparison, the  current asking price of this house, $95,000, was determined by subtracting an appraised value of  the land, –$45,000 –from the appraised value of the house with the land.

Mortgage financing from the Five College Credit Union may be available. Potential buyers should be pre-approved for a loan equal to the sales price minus their down payment. Cash buyers welcome.

Please explore VCLT.org  for additional information about VCLT. 

 Asking Price: $95,000