House Lust: A Waterfront Fixer Upper for $129,000

The property, which sits above Silver Spring Lake off Route 1 in North Kingstown, currently serves as a two-family.

This stunning two-family in North Kingstown, located at 1401 Tower Hill Road, is a “Fixer Upper” devotee’s dream come true.

It’s priced low, especially when you consider its prime spot on the nineteen-acre Silver Spring Lake, a.k.a. Shady Lea Grove. Perhaps less desirable is its location at the start of busy Route 1 south. But it’s tucked behind evergreen trees (hidden so well, in fact, that I never noticed it on my daily commute from Wakefield to Providence and back).

According to listing agent Rhonda Mesenbourg, the current owner tackled many daunting projects over fifteen years in the home, including the electric, plumbing, heating and creaking joists. He also stripped off the less-than-historic vinyl siding and replaced it with traditional red clapboard. There’s a bit of controversy over when the house was built, Mesenbourg says.

“The town says it was built in 1900, but what people are telling me as they come through is that it was probably built in late 1700s or early 1800s based on structure itself — the way the walls come together,” she says.

Mesenbourg is forthright about the amount of work left on this rehab property.

“In most of the rooms, the walls are cracked. The roof is leaking. It is a complete renovation,” she says. “But it is priced such that someone could go in there and put money into it and have it still be a really good value.”

Mesenbourg says the home quickly went under contract when it was listed early last month, however the buyer backed out due to medical issues. Since then, she’s shown the home between fifty and sixty times.

“It does take a special buyer — someone who wants to go in and take on the caliber of the work,” she says. “For the person who wants to buy and restore it, it’s a really special opportunity. They don’t build homes like that anymore. And you think of all the different things that have gone on in that house — if walls could talk, you know?”

I’d say this place is the deal of the century, but then I remember the renovations and sweat equity required to turn an old house into a home. Would you buy this fixer upper? Take a look:

 

 

For more information on the property, call Rhonda Mesenbourg at 401-326-2928 or visit rmesenbourg.kw.com.

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