I decided to treat the homes I've posted as if they were their own neighborhood and answer this question: how would that neighborhood stack up in terms of price against neighborhoods of central Raleigh? What I found was pretty jarring.

I did my best to control for certain factors. Since each of the homes I posted were built before 1960 (if not long before) and are also located close to the center of their respective towns, I sought out tracts with aged/historic residential properties that were also within a one mile radius of downtown Raleigh.

Without high-powered tools, collecting data and making sense of it is surely a bit more cumbersome and less accurate than it would be were I a real estate analyst, but here's what I found. The thirty-two tracts are divided by quartile, and the green "ENC" line is our historic ENC neighborhood.

The ENC neighborhood falls between the 14th and 15th most expensive neighborhoods in central Raleigh. In other words, the prices of the grandest homes in Eastern North Carolina are average by Raleigh standards.

Remember, these are the homes I'm talking about:

For maps of each tract, click to read more.

Built in 1858, this 6 bed/6 bath/8063 sq ft home in Tarboro is on the National Register of Historic Places. Known as The Barracks, it includes a three story interior rotunda, ten fireplaces, and period chandeliers and fixtures. Unfortunately, it has been on the market for 2.5 years, which may have something to do with the fact that its asking price is $125,000 more than what it was bought for in 2006. With that said, this home is in a category all by itself.

Click here to learn more about this property and contact a local Realtor.

Click here to learn why why I've been postings home like this. 

Previous | 731 W. Main St. | Washington  

Built in 1820, the historic Elmwood home is a 6 bed/5 bath/5,550 sq ft property. It is Washington's most historic property, and it includes numerous original details and period fixtures. Its central location and extensive wrap around porch are also a major draw.

Click here to learn more about this property and contact a local Realtor.

Click here to learn why I'm posting homes like this on my blog.

One of my hobbies is looking for beautiful, affordable, and historic homes on Zillow. As is true with all things, "beautiful" and "affordable" are in the respective eye and wallet of the beholder; but I try to keep a wide lens. For a while after we moved to North Carolina, I trawled Zillow's listings out of a hope that I might find THE affordable, historic home that was also located close enough to Greenville to not rock our routine here too much. Granted, we weren't and still aren't quite ready to move from our current place; but just in case, right?

The more time I spent looking, though, the more I understood just how much unacknowledged and unrealized home value exists in the hundreds of small towns in Eastern North Carolina. I should have known. Right out of college, I bought a home in the Mississippi Delta. A home that would have cost $400,000 on Cameron Ave. in Chapel Hill cost less than $100,000 in Clarksdale. I still own that house and would bring it with me anywhere if I could, but this time around is less about one person getting a surprising deal and more about broader economic forces at play in North Carolina and the greater South.

Like their Mississippi kin, small towns near Greenville like Kinston, Rocky Mount, Tarboro, Williamston, Washington, Wilson, and Snow Hill are all--to varying degrees--struggling to survive. This is a well-worn, well-documented narrative, as is the narrative about what to do about it (see: get out if/while you can). A singular narrative is incredibly dangerous, so I reject any notion that the game is over here. I know many hopeful people in the eastern third of the state who would reject that dominant narrative, too.

So I am left to wonder: how can we leverage historic housing--a local asset--to drive the growth of more economically robust and socially equitable communities in Eastern North Carolina?

Historic housing--with its typically central location, visual appeal, currently depressed market value, and connected potential for significant increase in value--represents a major opportunity for communities to elevate quality of life. Is it the end-all, be-all? Anyone who knows me knows my answer will be of course not. What it is, rather, is an opportunity to use something OF the community FOR the community. And that's an idea worth exploring.

To that end, I've arrived at the following set of questions that I'll be exploring from whatever angle seems to make the most sense in the coming weeks and months:

• What is the relative, long-term economic impact of a home purchase in a small town?
• What coherent efforts are already in progress to elevate these home purchasing opportunities OR facilitate equitable wealth-building via home purchasing opportunities like these?
• Who would be interested in a home like this? How does that change based on a town's size and location in ENC? Of those already living in the community, who would be interested in an opportunity like this?
• Is the sluggishness of the market an issue of actual market demand for such homes or lackluster exposure of a home-buying opportunities?
• Wealthier (and almost always white) families can inherit properties like these that over time become a logistical and/or financial burden. What percentage of historic homes never get listed by these families due to market headwinds and the associated pessimism?
• To what extent are homes withheld from the market due to "social" factors (see: mindsets about black homeowners moving into certain neighborhoods)?

As you can see, this is probably going to take a while, especially with the gears of life creaking to life next week. I won't claim to be able to provide exhaustive answers, but I hope you'll come along for the ride.

In the meantime, look forward to Local Space House #10 tomorrow!

Built in 1920, the historic Armstrong-Block House is a 6 bed/4 bath/3963 sqft home that includes motifs from the Craftsman, California, and Bungalow styles. According to the Realtor, this property includes "mostly original interior woodwork and many original art deco lighting fixtures," as well as a recently updated heating/AC system and an exceptionally large lot for New Bern's Ghent Neighborhood.

Click here to learn more about this property and to contact a local Realtor.

Click here to learn why I'm posting homes like this on my blog.

Built in 1939, this 4 bed/6 bath/5359 sqft home includes a remodeled kitchen with new appliances and granite countertops, extensive grounds surrounding the property, and the option to have an upstairs or downstairs master bedroom. Hardwood floors are installed in the home, though they are currently carpeted over.

This home was initially listed for $675,000 and has been gradually reduced to the current price over the past few years.

Click here to learn more about this property and contact a local Realtor.

Click here to learn why I'm posting these homes on my blog.

Built in 1903, this 3 bed/2.5 bath/2477 sqft home has been extensively renovated. It includes hardwood floors throughout, central air/heat, and stainless steel appliances. In the fenced-in back yard, you'll find a walkway that winds past raised beds on the way to a detached garage.

$2000 in closing cost assistance are offered to the buyer.

Click here to learn more about this home and to contact a local Realtor.

Click here to learn why I'm posting these homes on my blog.

Built in 1949, this 4 bed/3.5 bath/2834 sqft home includes an oversized family room, a deck, a screened porch, and a 936 sq ft basement. Kitchen includes granite counter tops, an island, and updated appliances. The home also includes a formal dining room, a breakfast area, and a formal living room with a wood burning fireplace. 

Click here to learn more about this property and to get in touch with a local Realtor.

Click here to learn why I'm posting these homes on my blog.

Built in 1920, this 5 bed/3 bath/4,437 sqft house is a move-in ready property with high ceilings and an incredible kitchen. Wood floors include inlaid patterns, and a large porch stretches out from the front of the home. A detached carriage house is also on the property.

Click here for more information or to contact a local Realtor.

Click here to learn why I'm posting these homes on my blog.

Built in 1900, the Faircloth Dixon Lassiter House is a 3 bed/2.5 bath/4,105 sq ft home with hardwood floors throughout, seven fireplaces, stained glass windows and detailed architectural trim and door hardware original to the home. It also includes a large front porch and an unheated sun porch.

Unlike many other towns of its size, Snow Hill has formally established a historic district, which is where this house is located. As a result, you'll find that most older homes are well-taken care of there.

You can learn more about this property and get in touch with a Realtor here.

Click here to learn more about why I'm posting these homes on my blog.