We noted, on April 5^th, a rowhome for sale at 4931 Hoopes Street, in West Philadelphia. The purpose was simple: to demonstrate how bad the neighborhood in which a 13-year-old was shot happened to be. We included four pictures of this disaster listing, for documentation, because photos disappear from zillow.com once a home is sold.

The house is completely unlivable, save as a squatter could make his home there. More importantly, while a house flipper might be interested in the property, he’d quickly forget the notion, because he could never recoup the money that he’d have to spend on the place to get it up to snuff because the property values in the rest of that dilapidated neighborhood are so low. Even if a flipper could buy the place for $1.00, there’s a possibility that he couldn’t make money fixing it up and selling it.

According to the zillow listing, property taxes on this place are $875 a year. If someone fixed it up and resold it, it would be reassessed, and the taxes increase.

2222 Wallace Street; the unit for sale is on the left. Photo from listing on zillow.com. Click to enlarge.

Now, why did I bring this up? There was a story in The Philadelphia Inquirer highlighting another row home for sale, in Fairmont, at 2222 Wallace Street . . . . for $875,000.

There is already a pending offer on this home.

The photos make it look well done, and it’s a beautiful home, though I will confess that were I to have redone this home, I would not have selected the styles that the remodeler chose. Nothing personal; it’s simply not my style.

Taxes? According to the zillow.com listing,^[1]I tend to use zillow.com for my real estate searches, and photos of properties for sale normally disappear from the zillow listing. However, realtor.com listings tend to hold on to the photos longer, … Continue reading property taxes on this unit were $10,881 in 2021. That works out to $906.75 a month, which is higher than any mortgage payment I’ve ever had to make on any of the houses I’ve owned. Yet, as we previously noted, the Editorial Board of the Inquirer are aghast that how safe people are in the city depends upon their skin color. While I have no idea what race the family who put in the pending offer on the Wallace Street house are, generally speaking most black and Hispanic Philadelphians can only dream of owning a home in that neighborhood.

I was wryly amused that the Inquirer ran this story, given how the Editorial Board were lamenting that the city is very racially segregated, and that an $875,000 listing is not exactly one which will draw many black or Hispanic prospective buyers. Still, article author Paul Jablow has such stories about once a week.