Vertical Paradise for $110,000k Overlooking Gladwyne's Mill Creek

Small Initial Price Tag for Vast View and Potential

Tucked aside multi-million dollar estates higher on the hill, this hammered and thrashed  4-bedroom cliff-side home overlooks Gladwyne's winding Mill Creek Rd and the Mill Creek Valley.
When our Multiple Listings Service reported this 2200sf house at 803 Mill Creek sold last week for $110,000, it became the Lower Merion first single-family home to sell for under $125,000 since 2003 (as recorded by  MLS).

Shown: Just some of the 25 steep steps from Street.

803 Mill Creek has many challenges, which is why the recently bank-owned dwelling has lain fallow for many years. Prior to selling last week for $110.000, the house and cliff-carved and tree-tangled plot was sold in late 2006 for $345,000. By fall 2008, the property was back on the market for $489,000. Less than two years later it was foreclosed upon and marketed at $274,9000, as a bank-owned-home in December of 2010.

Rear of house and hot tub Face a Densely Wooded Hillside.

The Bank's  list price dropped to $229, 900 in January 2011, then to 199,900 in February, before landing at $159,900 in March 2011. A month later the property was under contract to be sold in late June for $110,000.

A total rehabilitation is needed to make 803 Mill Creek habitable once again. And there are many challenges at hand, including a neglected 200-year-old building and a location carved nearly vertically into a densely wooded hillside about 30-40 feet above street level.

R5Realty Mini barely fits only Parking Slot on Mill Creek Rd.

In addition, there is no driveway and only a small curb-cutout to squeeze a car or two in between the hillside and cars snaking along this beautiful, blind-curve portion of Mill Creek Rd.
So at what price your poison?

Gladwyne's Mill Creek flows nearby.

Certainly, the logistics of conducting a hillside restoration on a small, winding road with little parking or space are daunting. But fully realized, 803 Mill Creek could become a cliff-side palace in a breath-taking setting.
We'll keep on watching this one

Main Line Condominiums: June Prices Paid

Club House and Pool at Oak Hill Condominiums.

Below are prices paid (under one million dollars) for Lower Merion and Narberth condominium units sold during June 2011. The "Fee" column represents the required condo/homeowners association monthly payment. Depending on whether you live at the Presidential, Green Hill, Oak Hill or other building, the monthly fee may or may not cover utilities and other expenses such as pool and health club. For more details on these transactions, as well as a complete list of what's on the market right now, email or call 610.348.7972,

Unit Address	Beds	Baths	Price Paid	Fee	Town
120 Sibley Ave 402	2	2.1	$700,000	464	Ardmore
191 Presidential Blvd R324	1	1	$110,000	590	Bala Cynwyd
20 Montgomery Ave D	3	2.1	$235,000	300	Bala Cynwyd
190 Presidential Blvd 401	3	3.1	$700,000	1144	Bala Cynwyd
930 W Montgomery Ave 605	2	2	$210,000	484	Bryn Mawr
432 W Montgomery Ave 103	2	2	$168,000	344	Haverford
264 W Montgomery Ave 405	2	2	$350,000	611	Haverford
104 Woodside Rd A104	2	2.1	$250,000	437	Haverofrd
212 Idris Rd J3	3	2.1	$315,000	417	Merion
1655 Oakwood Dr N306	2	2	$201,000	402	Narberth
1600 Hagys Ford Rd 5N	1	1	$118,000	504	Penn Valley
1637 Oakwood Dr S421	1	1	$140,000	300	Penn Valley
1600 Hagys Ford Rd 5L	1	1.1	$145,000	549	Penn Valley
1650 Oakwood Dr E115	2	2	$200,000	406	Penn Valley
1650 Oakwood Dr E-212	2	2	$218,000	395	Penn Valley
1750 Oakwood Ter 9F	2	2	$220,000	465	Penn Valley
1001 City Ave WB112	2	2	$101,000	748	Wynnewood
346 E Lancaster Ave 216	1	1	$115,000	229	Wynnewood
1001 City Ave WA202	2	2	$125,000	733	Wynnewood
1001 City Ave EE719	2	2	$132,500	746	Wynnewood
1001 City Ave EC506	3	2.1	$262,500	1278	Wynnewood

Lower Merion School District Homes Sold June 2011

June Buyers paid $300,000 for rehabbed 228 Delmont, Ardmore.

Listed below are the nearly 50 Lower Merion School District, Single-Family homes which sold in June priced under one million dollars.. For more details on these June transactions, or for complete data regarding currently available homes email us at: R5Realty.com or call 610.348.7972.  We specialize in Philadelphia and its walkable surrounding towns served by the R5/Main Line/Paoli commuter line.

Street Address	Beds	Baths	Last Price	Sold For	Community
135 Simpson Rd	3	1	$224,900	$215,000	Ardmore
228 Delmont Ave	3	2	$319,000	$302,000	Ardmore
2229 E County Line	3	2	$319,950	$320,000	Ardmore
124 Linwood Ave	4	1.1	$349,000	$349,900	Ardmore
186 Lakeside Rd	5	4.1	$775,000	$775,000	Ardmore
77 Academy Rd	4	1.1	$299,900	$177,000	Bala Cynwyd
100 Pencoyd Ave	3	1	$195,000	$185,000	Bala Cynwyd
20 Bryn Mawr Ave	6	2	$225,000	$220,000	Bala Cynwyd
725 Cambridge Rd	4	2.1	$369,900	$347,325	Bala Cynwyd
152 Union Ave	5	2.1	$474,900	$465,000	Bala Cynwyd
601 Manayunk Rd	4	3.1	$489,000	$481,000	Bala Cynwyd
Lot #1 Colwyn Ln	5	3.1	$799,900	$755,000	Bala Cynwyd
1218 Old Gulph Rd	5	3.2	$849,000	$810,000	Bryn Mawr
515 Lynmere Rd	4	3.1	$935,000	$950,000	Bryn Mawr
723 N Ithan Ave	5	4.1	$999,000	$967,000	Bryn Mawr
440 Conshohocken	4	2.1	$624,999	$540,000	Gladwyne
1101 Norsam Rd	5	3.1	$675,000	$641,500	Gladwyne
1124 Woodmont Rd	4	3	$769,000	$745,000	Gladwyne
933 Black Rock Rd	5	3.1	$859,000	$825,000	Gladwyne
514 Manayunk Rd	3	2.1	$416,500	$416,500	Merion
501 Latmer Rd	4	3.1	$484,900	$484,900	Merion
609 Ge Lafayette Rd	4	2	$500,000	$495,000	Merion
519 Putnam Rd	4	3.1	$570,000	$517,500	Merion
289 Meeting House Ln	3	3.1	$519,900	$520,000	Merion
525 Mercer Rd	4	2.2	$589,900	$573,500	Merion
524 Winding Way	4	2.1	$699,000	$700,000	Merion
6 Cleveland Ave	6	2	$199,900	$204,000	Narberth
421 Anthwyn Rd	5	2.1	$575,000	$550,000	Narberth
612 Shady Ln	4	2.1	$749,000	$725,000	Narberth
828 Summit Rd	3	2.1	$575,000	$490,000	Penn Valley
324 Righters Mill Rd	4	3.1	$685,000	$630,000	Penn Valley
529 Righters Mill Rd	4	2.2	$699,000	$687,000	Penn Valley
846 Beechwood Dr	3	2.1	$269,900	$269,900	Penn Wynne
2034 Ivywood Ln	4	2	$285,000	$262,500	Villanova
1950 Montgomery Ave	5	4.1	$850,000	$860,000	Villanova
1017 Canterbury Ln	4	4.1	$999,500	$960,000	Villanova
425 Haverford Rd	3	1.1	$299,000	$275,000	Wynnewood
110 Rock Glen Rd	3	2	$325,000	$315,000	Wynnewood
350 Williams Rd	4	2.2	$385,000	$385,000	Wynnewood
326 Old Forest Rd	3	2.1	$399,000	$400,000	Wynnewood
1302 Yarmouth Rd	4	2	$412,500	$412,500	Wynnewood
1215 Drayton Ln	4	3	$509,000	$487,000	Wynnewood
302 Hathaway Ln	5	3.1	$599,000	$530,000	Wynnewood
1340 Garden Rd	4	2.2	$599,900	$582,500	Wynnewood
215 Old Gulph Rd	4	2	$625,000	$610,000	Wynnewood
407 Millers Ln	4	3.1	$719,000	$695,000	Wynnewood
801 Primrose Ln	4	3.1	$759,000	$705,000	Wynnewood
936 Honeysuckle Ln	4	3.1	$749,000	$735,000	Wynnewood
414 Chichester Ln	5	3.1	$824,000	$792,500	Wynnewood