NOT LISTED FOR SALE

229 Terrace Ave Petersburg, VA 23803

Estimated Value: $176,578 - $247,000

3 Beds
2 Baths
1,820 Sq Ft
$113/Sq Ft Est. Value

Last Sold November 01, 2019

Last sale price $9,000 $5 Per Sq Ft

Est. 2,185% increase in value since last sale

Current estimated payment $1,179/month

96 Days on Market

About This Home

As of November 2019

8/1 - BACK ON MARKET. LOCATED IN DESIGNATED QUALIFIED OPPORTUNITY ZONE in Petersburg - opportunity knocks for the investor or someone looking to buy a home at a very low price to make it their own! Situated just off of Interstate 95 in Petersburg, VA is this 3 bedroom/2 full bath 1,820 sq. ft. 2-story corner lot home. Home has loads of potential. Zoned R-3 and priced over $46,000 off of it's 2018 tax assessment, this one is truly a bargain! Just over a mile away from Trapezium Brewery, Demolition Coffee, and Old Towne Petersburg. Be a part of the excitement in the area! Opportunity Zones is a federal economic development and community development tax benefit established as part of the 2017 Tax Cuts and Jobs Act available to investors with capital gains designed to encourage long-term private investment in low-income urban, suburban and rural communities - ask your agent for details!

Last Agent to Sell the Property

Kevin Randesi

804 Real Estate, LLC License #0225177324 Listed on: 07/17/2019

Last Buyer's Agent

Karen Chiluiza

United Real Estate Richmond License #0225211132

United Real Estate Richmond

Home Details

Home Type

  • Single Family

Year Built

  • Built in 1930

Lot Details

  • 4,099 Sq Ft Lot
  • Corner Lot
  • Zoning described as R-3

Parking

  • Off-Street Parking

Home Design

  • Frame Construction
  • Composition Roof
  • Metal Roof

Interior Spaces

  • 1,820 Sq Ft Home
  • 2-Story Property
  • Crawl Space

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Full Bathrooms

Schools

  • A. P. Hill Elementary School
  • Peabody Middle School
  • Petersburg High School

Utilities

  • Water Heater

Listing and Financial Details

  • REO, home is currently bank or lender owned
  • Tax Lot 1
  • Assessor Parcel Number 021-220022

Home Details

Home Type

Single Family

Year Built

Built in 1930

Lot Details

0

Listing Details

  • Property Type: Residential
  • Property Sub Type: Single Family Residence
  • Year Built: 1930
  • Property Attached Yn: No
  • Lot Size Acres: 0.0941
  • Ownership: REO
  • Subdivision Name: None
  • Architectural Style: Two Story
  • Garage Yn: No
  • Unit Levels: Two
  • New Construction: No
  • Building Stories: 2
  • Year Built Details: Actual
  • ResoBuildingAreaSource: Assessor
  • Property Sub Type Additional: Single Family Residence
  • Special Features: RealEstateOwned
  • Stories: 2

Interior Features

  • Basement: Crawl Space
  • Appliances: Water Heater
  • Basement YN: No
  • Full Bathrooms: 2
  • Total Bedrooms: 3
  • Living Area: 1820.0
  • Stories: 2
  • ResoLivingAreaSource: Assessor

Exterior Features

  • Roof: Composition, Metal
  • Lot Features: Corner Lot
  • Pool Features: None
  • Waterfront: No
  • Construction Type: Frame, Other
  • Property Condition: Resale

Garage/Parking

  • Parking Features: Off Street

Utilities

  • Heating: Other
  • Cooling: Other
  • Sewer: Public Sewer
  • Water Source: Public

Schools

  • Middle Or Junior School: Peabody

Lot Info

  • Parcel Number: 021-220022
  • Zoning Description: R-3
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2018
  • Tax Annual Amount: 741.0
  • Tax Lot: 1

MLS Schools

  • Elementary School: A. P. Hill
  • High School: Petersburg

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 17, 2019
Closed on
Oct 28, 2019
Sold by
Bryant Evans & Plc
Bought by
Hernandez Ricardo Lopez Raul
Seller's Agent
Kevin Randesi
804 Real Estate, LLC
Buyer's Agent
Karen Chiluiza
United Real Estate Richmond
List Price
$12,000
Sold Price
$9,000
Premium/Discount to List
-$3,000
-25%
Current Estimated Value
$205,645

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$196,645
Avg. Annual Appreciation
69.66%

Purchase Details

Closed on
Dec 8, 1995
Bought by
Reed Kim A and Reed Barbara L
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Hernandez Ricardo Lopez Raul $9,000 --
Reed Kim A $42,832 --
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/01/2019 11/01/19 Sold $9,000 0.0% $5 / Sq Ft
10/21/2019 10/21/19 Pending -- -- --
10/09/2019 10/09/19 Price Changed $9,000 -25.0% $5 / Sq Ft
08/19/2019 08/19/19 For Sale $12,000 0.0% $7 / Sq Ft
08/13/2019 08/13/19 Pending -- -- --
08/01/2019 08/01/19 For Sale $12,000 0.0% $7 / Sq Ft
07/23/2019 07/23/19 Pending -- -- --
07/17/2019 07/17/19 For Sale $12,000 -- $7 / Sq Ft
Source: Central Virginia Regional MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $697 $81,200 $8,000 $73,200
2023 $697 $54,900 $9,000 $45,900
2022 $697 $54,900 $9,000 $45,900
2021 $741 $54,900 $9,000 $45,900
2020 $741 $54,900 $9,000 $45,900
2019 $741 $54,900 $9,000 $45,900
2018 $741 $54,900 $9,000 $45,900
2017 $741 $54,900 $9,000 $45,900
2016 $741 $54,900 $0 $0
2014 $741 $0 $0 $0
2013 $741 $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Kevin Randesi

    Seller's Agent in 2019

    Kevin Randesi

    804 Real Estate, LLC

    (804) 683-4042

    15 in this area

    99 Total Sales

    Kevin Randesi
    Section Image
  • Karen Chiluiza

    Buyer's Agent in 2019

    Karen Chiluiza

    United Real Estate Richmond

    (804) 501-9891

    6 in this area

    81 Total Sales

    Karen Chiluiza
    Section Image
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Map

Source: Central Virginia Regional MLS

MLS Number: 1923833

Central Virginia Regional MLS

APN: 021-22-0022

Virginia Petersburg County Petersburg 23803

229 Terrace Ave, Petersburg, VA

This home is located at 229 Terrace Ave, Petersburg, VA 23803 since 17 July 2019 and is currently estimated at $205,645, approximately $112 per square foot. This property was built in 1930. 229 Terrace Ave is a home located in Petersburg City with nearby schools including Petersburg High School and Saint Joseph School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Central Virginia Regional MLS All or a portion of th multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listing s. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2025 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.

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