Discover an incredible opportunity with the Dr. Fay House for sale in Pavilion, NY, a captivating New York Greek Revival fixer upper for only $149,900. This c.1825 estate, set on 6.8 acres, offers 3,100 SF of potential waiting for the right visionary to transform it into a modern masterpiece.
A historic gem with endless possibilities, the Dr. Fay House stands out not only for its architectural charm but also for the prime investment potential it represents. Interested buyers should act fast as opportunities like this are rare and often fleeting.
Exploring the Dr. Fay House
The Dr. Fay House is steeped in history and character, featuring original wide-plank and quartersawn oak floors that silently echo tales from a bygone era. Though it reflects years of wear and tear, the foundational structure suggests vast renovation possibilities. For those who appreciate antiquity and dream of bringing such history back to life, this Greek Revival estate is a canvas waiting for a touch of creativity.
With renovations on the horizon, you’ll be able to put your stamp on this unique property in Pavilion, NY, known for its charm and affordability. Keep in mind that the barn on the property needs to be removed, and the estate is offered as-is with all existing contents, setting an exciting challenge for renovation enthusiasts.
Why Pavilion, NY is the Ideal Location
Pavilion boasts a cost of living that is significantly lower than both New York state and national averages, making it an attractive prospect for families and investors alike. Here are some key highlights of affordable housing in Pavilion, NY
- Affordable Cost of Living: Median home values hover around $160,700, while average rents for two-bedroom apartments are approximately $930 per month, making it quite affordable.
- Strong Sense of Community: Pavilion exudes a small-town charm where residents enjoy a close-knit and welcoming atmosphere.
- Abundant Outdoor Recreation: Numerous parks and sporting facilities cater to a variety of outdoor activities, promoting an active lifestyle and community gatherings.
- Family-Friendly Environment: The town is known for its family-friendly atmosphere, scoring a B grade for its supportive environment for children.
While Pavilion has its pros, it also has a few cons that potential buyers should consider
- Limited Educational Facilities: Families with middle school students may face commuting challenges due to the absence of a middle school within the town.
- Property Taxes: Higher property tax rates can reduce disposable income and affect budget planning for homeowners.
- Limited Job Opportunities: While the median household income sits at about $81,849, the area does present challenges in specialized job opportunities.
- Weather Considerations: A majority of residents may find the frequent cloudy days less appealing.
The Legacy of Dr. Warren Fay
Home to Dr. Warren Fay (1799-1875), a notable physician and investor, this property serves as a window into the past. Dr. Fay initially settled in Pavilion as the Erie Canal opened, and the residence was constructed specifically to accommodate his growing prominence. Over time, Dr. Fay earned a reputation as a skilled practitioner well-versed in the medical practices of the era.
Following Dr. Fay’s tenure, the estate transitioned through generations, remaining in local prominence. In the 1870s, Dr. Fay sold the property, once encompassing 18 acres, to Eli and Sylvester Carr. Their son, George Irving Carr, known as the town’s principal merchant, became intimately associated with this remarkable home. The estate not only stands as a testament to Dr. Fay’s legacy but also carries the stories of the families that came after him, showcasing how homes can carry the weight of history.
Investment Potential in Pavilion
Pavilion, NY, is ripe with property investment opportunities, making it an appealing choice for those looking to dive into real estate. With a robust community and various outdoor amenities, it is well-suited for buyers looking to renovate historical homes or develop new structures. Understanding the dynamics of the local real estate market and leveraging the affordability of Pavilion can lead to substantial returns on investment.
RE/MAX Hometown Choice is the brokerage managing the sale of this estate. Interested buyers should act quickly, as opportunities to own a piece of history don't last long. Investors are encouraged to verify all property details and funding requirements to facilitate a smooth purchase process.
If you see potential in this beautiful New York Greek Revival fixer upper, the Dr. Fay House, don't hesitate to make your move. Whether you're drawn by the charming architecture, the spacious grounds, or the enticing investment prospects, this residence offers a singular opportunity to restore and revive a cherished piece of history in Pavilion, NY. Don't let this chance slip through your fingers—contact your chosen agent or reach out to RE/MAX Hometown Choice for more information. Transform your dreams of owning a historically rich property into reality today!