BEREA, Ohio — Another home the city has renovated is nearly ready for sale in Berea.
The house, located at 106 Jacob St., is the second former off-campus student rental home to be offered for sale to the public. It is one of five structures the city acquired in a swap with a developer that wanted land on which a Front Street municipal parking lot sat.
A rehabbed home on Seminary Street was the first to hit the market last year, selling for more than $230,000. Homes at 180 and 190 Beech St., as well as at 312 Eastland Road, also were involved in the property swap.
The newly renovated single-family homes are being sold with deed restrictions preventing them from ever becoming rentals.
Residents living in neighborhoods near Baldwin Wallace University had lobbied the city for years to alleviate problems with student-occupied rental homes, such as noise, illegal parking and poor exterior maintenance.
Proceeds from each home sale go toward defraying the cost to renovate the next one.
“Our big-picture plan is to have an open house with the community,” Matt Madzy, economic development director, said about the Jacob Street home during the March 7 City Council meeting.
“Interested parties will be able to walk through the home, and then we would have the home (listed) on Zillow.
“Our intent is to have it up (online on Zillow) for a few days, or potentially a week, before we begin to accept offers,” Madzy added, noting that an email address will be established specifically to receive offers.
Prior to title transfer, he said the Jacob Street property will become part of a newly created homeowners association that did not exist when the first city-rehabbed home was sold.
“The neighbors in the area created a homeowners association to bring the neighborhood together and put some restrictions on their properties, but also to try to organize some beautification projects in their area, as well as some events,” Madzy explained.
Plumbing, HVAC, electrical and other interior mechanical components in the Jacob Street home were replaced. The entire interior was updated, including new flooring, walls, cabinets and bathrooms.
Estimated renovation cost, including labor and materials, was $150,000. The asking price is anticipated to be $295,000.
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