Richview Park (Tallahassee, FL)
By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Last week, I wrote a blog about a great investment my brother Mike purchased in 1991 in Richview Park. If you did not get a chance to check it out, I would recommend you click here to read about Richview Park townhomes as the lead-in to this real estate investment analysis. He has since provided me all of his operating data since the day that he purchased his townhouse in Richview Park. As a quick summary, we have seen property values grow in Richview Park over the past 17 years, though prices have softened in the past two years. The following graph shows all arms-length transactions in Richview Park through July 2009.   Richview Park Townhome Analysis The following table shows information gathered by my brother over 18 years he has owned the property. In order to simplify the Richview ...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Yesterday, my brother Mike and I were discussing our townhomes that we purchased in Richview Park in the early 90s. Richview Park is a town home community of roughly 150 homes in a very convenient location off of Richview Road and Apalachee Parkway in downtown Tallahassee. Anyway, we were discussing the fact that real estate had dropped in value lately, yet his townhouse was still an incredible investment. This Tallahassee townhouses was purchased in the early 90s and if sold today would show a five percent annualized appreciation rate. Considering the fact that leverage was used, his return on investment (ROI) is going to be huge. Great Returns On Townhomes In Richview Park The real estate graph below shows that unit sales have slowed considerably in Richview Park, but values are only ...
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By Carol Palacios
(Century 21 Manausa & Associates)
Details Photo Gallery View Rooms 32301-Tallahassee (Richview Park) MLS #186437 FOR SALE$137,900 Century 21 First Realty Joe Manausa - Tallahassee Real EstateEmail Joe Manausa - Work: 850-386-2001Cell: 850-523-6178Fax: 850-383-6400 More Photos(6) ScaledImage Quick Links Virtual Tour Request More Info Email Listing More Photos(6) Details Address: 456 Richview Park Type: Residential Style: Single Story Bedrooms: 2 Bathrooms: 2 Suite: No Living Area: 992 square feet Year Built: 1992 More Details Description First time homebuyers and students will appreciate the convenient location and great value for this cute townhome in a well-kept and friendly neighborhood. More Description Brokered and Advertised by Century 21 First Realty LID 1847101 Information is deemed to be correct but not guarant...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
For the past few blogs, I have been featuring neighborhoods from around the Tallahassee real estate market. We have analyzed them based upon recent sales history, as well as current inventory. Most of these Tallahassee subdivisions have been ones where the homes were priced above the median price in the Tallahassee real estate market, so for today I will feature a Tallahassee neighborhood where the homes are priced within the parameters of affordable housing in Tallahassee.Richview Park is a town home community in Tallahassee located near downtown, just off of Richview Road (which connects Park Avenue to Apalachee Parkway). A savvy home buyer could have purchased a two-bedroom unit in 1991 for $55,000. That unit would have sold last year for an annual appreciation rate of 5.8%! That is ...
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Tallahassee, FL Real Estate Professionals