Most Recent Soundview Single Family Home Sales Are Retrieving Over $400 Per Square Foot.

The new appeal is expected to correlate with a spike with Soundview single family home prices.  The latest aggressive transaction occurred at at 508 White Plains Road.  The house was renovated by an investor.  It’s now home to the Etheridge family for a whopping $510,000.  What was more intriguing was that the home is being financed through an FHA mortgage — a very challenging loan to use with home flips.

The frame detached Soundview single family home touts approximately 1,200 square feet and sits on a 3,000 square foot lot.  It sits next to the Boys and Girls Club and across the street from I.S. 174.  It’s also in close proximity to Clason Point Park, where NYC Ferry construction is ongoing.

Neighboring 500 White Plains Road also closed at $500,000.  This home was originally acquired by RA 500 LLC to renovate and flip.  The Seodat family now owns the home, buying it after a short time on the market.  Another detached frame Soundview single family home, it has about the same interior square footage as 508 White Plains Road.  It sits on the corner of Lacombe Avenue and White Plains Road.

There’s an influx of new buyers looking to capitalize on the new opportunities in buying a Soundview single family home.  Additional to the NYC Ferry construction, new schools and retail opportunities are becoming available to neighborhood residents.  Interest rates are still at an all-time low.  Buyers are easily qualifying for FHA financing with 3.5% down at contract signing.  Conventional loans are also now permitting 5% down payment for loans.  For more information, contact CFLuxe Real Estate at (914) 295-2744.