New Construction in the Fox Chapel Schools

[Parker Snyder]

Investment Info:

Single-family residence other investment.

Purchase price: $75,000
Cash invested: $420,000
Sale price: $650,000

New Custom Home in Quiet Culdesac Fox Chapel Schools Move in today to your dream home. Wall to wall carpeting, hardwood floors, a spacious kitchen with solid surface counter tops. This custom home is four (4) bedroom, two and a half (2.5) bathrooms, with a two-story entryway. Built in the colonial style with a modern interpretation, you will find everything you need to raise your kids or retire in comfort. The home features a two stall integral drive-in garage with very tall walls - 10’ in the basement, 10’ on the first floor and 8’ on the second floor. There are dedicated laundry hookups in both the basement and in the second floor master bedroom. The living room features a coffered ceiling and a natural gas direct vent fireplace. There is a dedicated office on the first floor. The kitchen is designed as an open plan with a long island integrated with a seated space. The kitchen is connected to the breakfast nook, near a large bay window. A beautiful stained oak staircase with two landings leads to a fully carpeted second floor. The master bath has a tiled walk-in shower with double sink bowl. The hallway bath is spacious with double sinks. The attic is heated and cooled within the conditioned space of the house - this a bonus of 430 square feet of conditioned, dry and comfortable storage space. No more going into a cold attic to get the holiday decorations! ENERGY EFFICIENT, QUIET AND COMFORTABLE Save money on your electric and gas bill by living in a home that well exceeds the requirements of the energy code. The entire home is spray foamed from the roof line to the basement. Spray foam seals all the gaps and cracks and reduces the infiltration of cold air in winter. The result is a quiet home that will stay comfortable year round. Energy efficient homes are win-win for the homeowner as they increase equity by putting the value in your pocket rather than in the pocket of the gas or power company. TALLEST HOUSE ON THE STREET The Olde Saxony Trail plan was built in the 1990s. Surrounded by quiet woods, this is the last house on the culdesac and the tallest and largest on the street. Three-quarter acre (0.75) lot with a back deck and flat yard surrounded by tall trees. The backyard is tiered for a large summer garden. There is 500 SQ FT of backyard for barbecues or future hardscapes. CONNECTED TO THE CITY Old Saxony Trail has a perfect location. The home is located at the intersection of Saxonburg Blvd. and Route 910 in Indiana Township. The home is 8 minutes from Target, 15 minutes from Waterworks shopping mall, 10 minutes from the Tarentum Mills mall, and 30 minutes from downtown Pittsburgh. Within 20 minutes you can access all the major arteries to commute wherever work takes you. LOTS OF SPACE The house has a total overall square footage of 4,000 square feet with 2,900 square feet of living space.

What made you interested in investing in this type of deal?

Two decades of experience in residential construction - started as a civil engineer with a sustainability background as a residential home energy rater. Worked as a building construction consultant for 10 years, built and renovated new homes. Started on my own in 2017 -

How did you find this deal and how did you negotiate it?

The property was bought in 2006 in a real estate partnership and we built 5 of 6 lots - this is the last one remaining

How did you finance this deal?

Regional bank, residential loan for new construction

How did you add value to the deal?

Smart choices for finishes, foamed the house top to bottom, high efficiency appliances.

What was the outcome?

Listed the home in early August 2019.

Lessons learned? Challenges?

Easier than my last deal which was a buy, rehab, refinance, hold.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Not yet, did a flat fee listing through Fizber via US Realty and considering listing it w an agent if it doesn't sell in 90 days FSBO