440 Linwood: Mansion + Carriage House for $849,900 (Video)

that's impressive and the price is crazy low given it's condition and the carriage house. what's the catch? what would the owner expect to pay in taxes?

Not "crazy low" for the street (which I love)-it's about 2x the price of anything else. Too bad they don't advertise the property with images of the amazing gardens....

though i wouldn't put it as harshly as slobadan, i kind of agree.

while it is gratifying to see fine buffalo houses valued as they should be, it seems more consistent with your mission to promote houses and neighborhoods that need a little love, so that they can become success stories like linwood avenue.

show us what's on the demo list, the places that no agent is going to earn a bermuda vacation from.

So they're losing about $150,000 on the house?

I believe there is another mansion for sale on Linwood closer to LaFayette. It is in rehab condition but just as big with a huge carriage house. It's going for a buck fifty.

I love these articles, gimme more!

Wow. If only I had a need for 10 bedrooms and 7 bathrooms.

What a beautiful tree lined Historical Street! AND even better, an active community block club! Now this is a community! Kudos to all of you on Linwood! The Linwood home tours have been educational and wonderful! Now as for this particulate sale.......850k! This has to be one of the biggest sales on the street. Was this an owner occupied home? How could they purchase for 398k, plus put another 650K into it...that brings it to $1,048,000...ONE MILLION FORTY EIGHT THOUSAND DOLLARS! Just to sell at a loss??? If any one has done home improvements, they know how difficult it is to live through it and how slow the process takes. Why is this home back on the market in only 5 years with major renovations? This particular sale has all the signs of a commercial or a money hungry group trying to do a residential flip and capitalize on all the community has to offer. The problem is....if the sale goes through, all of the neighbors in the area will have their assessments and taxes go through the roof! There are not too many individuals in the Buffalo area who will spend that kind of money for a personal home in Buffalo, which will only mean commercial business moving into the area, to purchase the homes. And finally, this sale will only inspire other home flippers to buy up homes to sell at unrealistic prices. This could be the end of a wonderful livable family community. VIVA HOMEOWNERS OF LINWOOD! The real protectors of community!

houses like this have tough enough time selling on streets like West Ferry and Oakland Place... let alone Linwood Ave.....keep dreaming if they think someone will shell out this kind of dough to live one backyard away from a ghetto

I love Linwood, however I dislike that people treat it like some sort of super-highway. I think they should return it to a 2 way street to calm traffic.

I am a Linwood resident, and I agree it is an oasis within Buffalo! It is one of the quieter streets in the city--due to being one-way, relatively light traffic, being one-off from busy streets like Delaware and Main, having huge yards and an abundance of large trees. The homes, carriage houses and trees are magnificent, the lots are huge, and the majority of the street is in impeccable condition. You’d be hard pressed to find a comparable street in the area that as long as Linwood and is as well-kept throughout the entirety of the street. I hope the house sells for $850k, it would help increase our home values. Unfortunately, $850k is not going to happen, that’s a tall order for a street where values cap around $500k. There are several large income producing beauties with carriage houses that are currently on the market and those are listed around $500k asking. Since this home is multiple units, the value can easily be calculated from the financials. Depending on the expenses--at a decent CAP rate and average expenses, this home would need to bring in around $120k per year in rental income to justify an $850k sale price. Additionally, thanks to our insane taxes, this home, if sold at $850k will be taxed $27k per year (no if ands or buts)…City of Buffalo assesses commercial / non-homestead properties at 100% of sale price (period). Love Buffalo, but how long are we going to take it up the (choose whatever orifice you find most uncomfortable) from the government and its ridiculous taxes?

Please don't use the term video for a SLIDE SHOW!