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Post by steelman on Dec 20, 2023 11:24:53 GMT -6
If anyone wants to see the inside below is the home on Zillow with 50+ pictures. Its a beautiful 175 year old house that will definitely need some upgrades. I can't imagine the university has plans to tear it down, but it does sit on 5 acres that could be valuable to the university. What's interesting, according to Zillow the house last sold for $5,000 in May 2023, but is valued at $695K. It could just be a creative way for a family estate to ultimately transfer the home to the university to minimize estate taxes or use as a donation credit....who knows. www.zillow.com/homedetails/603-Pelham-Rd-N-Jacksonville-AL-36265/109414987_zpid/?
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Post by gemofthehills on Dec 20, 2023 11:39:26 GMT -6
Is the house in an OZ?
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Post by pix99 on Dec 20, 2023 16:38:20 GMT -6
I love history but tearing down an old house that has no real significance other than it’s old doesn’t bother me. Do you feel that way about just old houses, or does it also apply to other old, historic structures, say for example, Bibb Graves Angle Hall?
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Post by troysux on Dec 20, 2023 17:19:33 GMT -6
I love history but tearing down an old house that has no real significance other than it’s old doesn’t bother me. Do you feel that way about just old houses, or does it also apply to other old, historic structures, say for example, Bibb Graves Angle Hall? Graves/Angle is an administrative building for the University. If they announced they were going to tear it down and build a new one I wouldn’t care. If you are asking about the name itself, I don’t care either. The old name didn’t bother me but I also wasn’t offended by the change.
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Post by pix99 on Dec 20, 2023 20:17:30 GMT -6
Do you feel that way about just old houses, or does it also apply to other old, historic structures, say for example, Bibb Graves Angle Hall? Graves/Angle is an administrative building for the University. If they announced they were going to tear it down and build a new one I wouldn’t care. If you are asking about the name itself, I don’t care either. The old name didn’t bother me but I also wasn’t offended by the change. Nope, just referring to the historic nature of the building itself.
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Post by pix99 on Jan 1, 2024 17:01:24 GMT -6
Heard the sale of the Magnolias fell through.
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Post by leeroy on Jan 1, 2024 17:36:17 GMT -6
Heard the sale of the Magnolias fell through. It sounded weird from the beginning. Just being nosey, I'd like to know what happened.
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Post by pix99 on Jan 1, 2024 17:49:00 GMT -6
Heard the sale of the Magnolias fell through. It sounded weird from the beginning. Just being nosey, I'd like to know what happened. I haven't heard any details yet, but I'd like to know more too.
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Post by troysux on Jan 2, 2024 8:31:16 GMT -6
Graves/Angle is an administrative building for the University. If they announced they were going to tear it down and build a new one I wouldn’t care. If you are asking about the name itself, I don’t care either. The old name didn’t bother me but I also wasn’t offended by the change. Nope, just referring to the historic nature of the building itself. Just what is the historic nature of the building other than it is old? There’s nothing special about it as far as I am aware. I went to the estate sale. It was hard to get a feel about it with stuff everywhere but it was a pretty building but it looked like it could use some work. But I am not an architect, builder, or anything like that.
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Post by gemofthehills on Jan 2, 2024 8:46:16 GMT -6
Its old but that about it as far as I know.
The proximity to the campus is the main draw? 5 acres is a nice size piece of land next to campus but who else is a potential buyer?
Not a place I would want a home to live in but could be used for VRBO but you would have 2 million in it which would need 35 - 40000 per month at least to cover all expenses. Over 1000 per day seems to be a little more than Jvill would bring in for revenue. To my knowledge it isnt zoned commerical and this lowers the value a lot.
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Post by pix99 on Jan 2, 2024 11:45:20 GMT -6
Nope, just referring to the historic nature of the building itself. Just what is the historic nature of the building other than it is old? There’s nothing special about it as far as I am aware. I went to the estate sale. It was hard to get a feel about it with stuff everywhere but it was a pretty building but it looked like it could use some work. But I am not an architect, builder, or anything like that. I'm not an architect, builder or anything remotely related either, didn't mean to give an impression otherwise. Trying to convince someone that history of any sort is worth study, preservation or appreciation brings to mind the old saying that beauty is in the eye of the beholder. If you don't care about it, I don't think I can say anything to change your mind. The house was built in 1850 (if I remember correctly) & one of the early presidents of the university lived there. It's a remarkably good example of a type of architecture & building that is no longer used & like other preserved buildings such as in Charleston, Williamsburg, etc., gives us a view into how people once lived, which some find interesting & worthwhile. Some people see old stuff & just see, well, old stuff. I'm one of those weird folks that wanted a piece of of the marble facade taken off the library because it was a tangible piece of history that reminded me of my time at JSU in the 70's, & that's only a few decades not centuries. Happy New Year!
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Post by Whup Em All on Jan 2, 2024 12:38:46 GMT -6
Whatever the selling price ends up being for the Magnolias, you'll probably have to double it to get all the necessary repairs and upgrades done to use that house for anything. It's not exactly a "flippable" property.
In fairness, most of the renovated homes along Mountain and other Jacksonville streets are not "flips" in the traditional sense. It's more historic preservation for those. But there's a huge difference in buying a run-down property for $75K and dumping $50K into renovations to create a historical showpiece versus trying to do the same with a $700K property. At least, outside the Atlanta area where cheap $65K houses dating to the late 1960s are selling for half a million...
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