By now I suspect you all know what this version of the newsletter is meant to accomplish. If not, a quick recap. In 2016, I was covering a campaign against a rezoning on Booker Street in Charlottesville’s Rose Hill neighborhood. Even though I’d been writing for Charlottesville Tomorrow for nine years at that point, I had so much to learn.
From that point on, I learned how to read through the city’s real estate records to figure out how land use transactions work. I particularly wanted to find out why it seemed that some people managed to purchase properties at or below the assessed value.
This work also taught me how to keep an eye on the University of Virginia and purchases made by its real estate foundation. Later in 2016, I used this research to report that UVA bought property south of the railroad tracks in the Fifeville neighborhood. Now that property is slated as potential housing in the draft Grounds Framework Plan.
I’m a beat reporter and my beat is land use development. Doing this research into property transactions is how I keep attached to that beat.
Each month, this goes out to paid Charlottesville Community Engagement subscribers first because they are the ones who support my ability to work the way I do and share what I uncover. Paid subscribers allow me to keep paying attention. To see this one in late July, consider subscribing! Ting will match your initial subscription!
So that’s the longer story. Now for some housekeeping.
This list of transactions does not include title transfers and other transactions where no money changes hands. Charlottesville’s data also does not specify whether a sale is considered valid or invalid.
My primary interest in this is to develop an anecdotal sense of how much properties are trading above assessment. Charlottesville had double digit increases in real property assessments in the past two years, but will that happen again in 2024? There are many times in this entry where I put the 2021 assessment for comparison. There was quite a jump in 2022.
I’m not sure, but along the way there are a lot of interesting stories below. Would it were I had time to write and pursue them all! Fill me in if you know any of the details!
May 1, 2023
- A three bedroom house built in 1961 on Agnese Street in the Locust Grove neighborhood sold for $447,000. That’s 14.7 percent above the 2023 assessment of $389,700. (Residential-A, 0.2 acres)
- A 785 square foot one-bedroom apartment in Walker Square sold for $311,809. That’s 32.52 percent over the 2022 assessment of $235,300 and 14.59 percent above the 2023 assessment ot $272,100. (Residential Mixed-Use 5, N/A)
- A two bedroom house on Mobile Lane in the Fry’s Spring neighborhood sold for $200,000. That’s 29.45 percent below the 2023 assessment of $283,500. (Residential-A, 0.248 acres)
- A townhouse unit in Belmont Village on Quarry Road sold for $397,000. That’s 12.56 percent above the 2023 assessment of $352,700. (Residential-C, 0.06 acres)
May 2, 2023
- The Hampton Inn on West Main Street sold for $14.08 million. This transaction is 1.41 percent below the 2023 assessment of $14,281,800. Commercial properties in Charlottesville increased an average of 12.16 percent in 2023 after a sharp decline from 2020 to 2021 due to the pandemic. In 2020, the assessed value was nearly $18.5 million. (Corridor Mixed-Use 5, 1.77 acres)
- A three bedroom house built in 1956 on Meadowbrook Heights Road sold for $907,000. That’s 31.13 percent over the 2023 assessment of $691,700. (Residential-B, 0.43 acres)
- One half of a duplex on Prospect Avenue in the Orangedale section of Fifeville sold for $180,000. That’s 2.49 percent below the 2023 assessment of $184,600. An interesting comparison to make is with 2021 when the assessment for this property was $139,000. This transaction is 29.5 percent above that 2021 figure. (Residential-A, 0.083 acres)
May 3, 2023
- A three bedroom house on Winston Road in the Venable neighborhood sold for $1,125 million. That’s 28.7 percent over the 2023 assessment of $874,100. There do not appear to be any recent renovations or building permits. (Residential-A, 0.25 acres)
May 4, 2023
- Both sides of a duplex on Montrose Avenue in the Belmont neighborhood sold for $468,000. That’s 40.54 percent over the 2023 assessment of $333,000. (Residential-A, 0.139 acres)
- A five bedroom home built in 2014 on Riverbluff Circle in the Woolen Mills neighborhood sold for $926,000. That’s 64.89 percent above the 2023 assessment of $561,600. (Residential-A, 0.17 acres)
- A four bedroom house built in 1917 on Altamont Street in North Downtown sold for $766,000. That’s 17 percent over the 2023 assessment of $654,700. That’s 17 percent over the 2023 assessment of $654,700. (Residential-A, 0,124 acres)
May 5, 2023
- A five bedroom house in the 1900 block of Thomson Road in the Lewis Mountain neighborhood sold for $1,742,100. That’s 70.18 percent over the 2023 assessment of $1,023,700. (Residential-A, 0.54 acres)
- A three bedroom house on Cutler Lane in the Locust Grove neighborhood built in 1969 sold for $350,000. That’s 3.95 percent over the 2023 assessment of $336,700. For comparison, the 2021 assessment was $281,400 making this transaction 24.38 percent over that year’s valuation. (Residential-B, 0.262 acres)
- Rich Valley Holdings LLC purchased a single family home at 104 Lankford Avenue for $105,589. That’s 34.29 percent below the 2023 assessment of $160,700. This property is just to the west of the South First Street community owned by the Charlottesville Redevelopment and Housing Authority. This property appears to be designated within a Sensitive Communities area. (Residential-A, 0.21 acres)
- A three bedroom house on Lide Place in the city’s section of the Willoughby neighborhood sold for $415,000. That’s 25.95 percent over the 2023 assessment of $329,500. (Residential-A, 0.2 acres)
- A three story house built in 1950 in the 1500 block of Broad Avenue in the Fry’s Spring neighborhood sold for $475,000. That’s 40.37 percent over the 2023 assessment of $338,400. (Residential-A, 0.472 acres)
May 8, 2023
- A newly constructed four bedroom home on Moseley Avenue in the Fry’s Spring neighborhood sold for $671,000. The house was built by Southland Home, Inc, a company that bought the 0.235 acre lot for $50,000 in May 2021. (Residential-A, 0.235 acres)
- An 1,159 square foot apartment in the Gleason condominium sold for $680,000. This particular unit has two bedrooms and reflects the increased valuation from the last few years. In 2020, this unit was assessed at $512,300 (32.72 percent above) and rose to $568,300 in 2021 (19.66 percent above). That climbed to $678,300 in 2022 (0.25 percent above) and $705,200 in 2023 (3.57 percent below) (Node Mixed Use 10, N/A)
May 9, 2023
- Davis and Spencer Homes LLC purchased 1407 Florence Road for $207,500. This is a two-bedroom house built in 1961 in the Belmont neighborhood. That’s 1.89 percent below the 2022 assessment of $211,500 and 20.41 percent below the 2023 assessment of $260,700. (Residential-A, 0.15 acres)
- A four bedroom house on Tarleton Drive built in 1958 sold for $520,000. That’s 15.74 percent over the 2023 assessment of $449,300. That’s 15.74 percent over the 2023 assessment of $449,300. (Residential-B, 0.358 acres)
- A four bedroom house on Malcolm Crescent in the Martha Jefferson neighborhood sold for $950,000. That’s 13.38 percent over the 2023 assessment of $837,900. The last time this hold sold was in April 2018 when the sales price was $670,000. (Residential-A, 0.22 acres)
May 10, 2023
- A vacant lot on Riverbluff Circle sold for $155,000. That’s 10.71 percent over the 2023 assessment of $140,000. (Residential-A, 0.159 acres)
- A two bedroom suite in a condominium building on East High Street sold for $405,000. That’s 13.1 percent over the 2022 assessment of $358,100 and 1.78 percent over the 2023 assessment of $397,900. (Corridor Mixed Use 5, N/A)
- A 664 square foot one bedroom unit in the mixed-use building at 820 East High Street sold for $285,000. That’s 0.56 percent below the 2022 and 2023 assessment of $286,600. The 2020 assessment was $228,300 and the 2021 assessment was $264,400. (Node Mixed Use 8, N/A)
- A newly built three bedroom house on Bennett Street sold for $711,871. Arcadia Builders purchased the lot last November for $158,760. (Residential-A, 0.05 acres)
- A three bedroom house built in 1960 on Agnese Street in the Locust Grove neighborhood sold for $390,000. That’s 28.54 percent over the 2022 assessment of $303,400 and 10.51 percent over the 2023 assessment of $352,900. (Residential-A, 0.168 acres)
- A 1,230 square foot apartment in Walker Square with two bedrooms sold for $415,000. That’s 17.83 percent over the 2022 assessment of $352,200 and 2.09 percent over the 2023 assessment of $406,500. (Residential Mixed Use 5, N/A)
May 11, 2023
- A 541 square foot one-bedroom unit in the apartment complex at 1800 Jefferson Park Avenue sold for $235,000. That’s 17.38 percent over the 2023 assessment of $200,200. (Corridor Mixed Use 5, N/A)
- An entity called SFI Rugby purchased 1449 Rugby Avenue. That’s in the Barracks / Rugby neighborhood. They paid $370,000, which is 14.51 percent below the 2023 assessment of $432,800. (Residential C, 0.17 acres)
- A 1,107 square foot unit in the apartment building at 215 5th Street SW sold for $302,500. That’s 2.82 percent over the 2022 assessment of $294,200 and 9.32 percent below the 2023 assessment of $333,600. (Residential Mixed-Use 5, N/A)
- The Wilmington Savings Fund Society purchased 104 Slate Place at a public auction on April 26 for $222,075. The property in the Willoughby neighborhood was foreclosed upon. This transaction is 36.28 percent below the 2023 assessment of $348,500. (Residential-A, 0.3 acres)
May 12, 2023
- Lichen Properties LLC is the new owner of three vacant properties in the 800 block of 5th Street SW. The entity paid $175,000 for land that had been purchased by Daddy Rabbit LLC in April 2022 and by Fifth and Ridge LLC in November 2022. Both of those transactions were $145,000. This latest sale is 19.98 percent below the 2023 combined assessment of $218,800. (Residential-C, 0.354 acres)
- Lichen Properties LLC also picked up 818 5th Street SW for $3,700. The sliver of a property had a 2023 assessment of $3,900 making this transaction 5.13 percent below. (Residential-C, 0.0 acres)
May 15, 2023
- A three bedroom house constructed in 1962 on Meridian Street in the Belmont neighborhood sold for $380,000. That’s 19.08 percent above the 2023 assessment of $319,100. (Residential-A, 0.187 acres)
- A five bedroom house on Highland Avenue in the Fry’s Spring neighborhood sold for $690,000. That’s 14.03 percent over the 2022 assessment of $605,100 and 0.45 percent below the 2023 assessment of $693,100. (Residential-A, 0.15 acres)
- A three bedroom house built in 2010 on Huntley Avenue in the Fry’s Spring neighborhood sold for $580,000. That’s 10.9 percent over the 2023 assessment of $523,000. (Residential-A, 0.121 acres)
May 16, 2023
- A three bedroom house built in 2018 on Huntley Avenue in the Fry’s Spring neighborhood sold for $519,000. That’s 9.84 percent above the 2022 assessment of $472,500 and 0.68 percent over the 2023 assessment of $515,000. (Residential-A, 0.1 acres)
- One half of a duplex on Summit Street in the Jefferson Park Avenue with three bedrooms sold for $276,000. That’s 10.58 percent over the 2023 assessment of $249,600. (Residential Mixed-Use 3, 0.089 acres)
May 17, 2023
- An office building at 107 and 109 West Market Street sold for $845,000. That’s 13.3 percent over the 2022 assessment of $745,800 and 2.31 percent over the 2023 assessment of $825,900. (Downtown Mixed Use, 0.09 acres)
- A three bedroom house in the 600 block of Bolling Avenue sold for $550,000. That’s 92.58 percent over the 2023 assessment of $285,600. The house was built in 1910 and the property’s entry on Realtor.com describes it as “thoughtfully restored and renovated.” (Residential-A, 0.139 acres)
- A recently renovated house on Banbury Street in the Greenbrier neighborhood sold for $588,100. That’s 39.72 percent over the 2023 assessment of $420,900. This property was bought by the firm Daddy Rabbit LLC in April 2022 for $310,000 and sold to FMF LLC two months later for $454,900. One of those firms performed renovation work on the structure. (Residential-A, 0.45 acres)
May 18, 2023
- A four bedroom house built in 1975 on Rosser Lane in the Venable neighborhood sold for $1.025 million. That’s 19.84 percent above the 2023 assessment of $855,300. (Residential-A, 0.291 acres)
May 19, 2023
- A three bedroom house built in 1956 on Crestmont Avenue sold for $335,000. That’s 24.53 percent below the 2023 assessment of $443,900. (Residential-A, 0.227 acres)
- A 1,034 square foot one bedroom unit in the mixed-use building at 1001 East Market street sold for $385,000. The structure was built in 2007. (Corridor Mixed Use 5, N/A)
May 22, 2023
- Gordon Holdings I, LLC purchased an office building at 918 9 ½ Street NE sold for $608,000. That’s 24.46 percent over the 2023 assessment of $488,500. (Neighborhood Mixed Use 8, 0.11 acres)
- A four bedroom house in the 1000 block of Druid Avenue sold for $602,000. That’s 56.04 percent over the 2023 assessment of $385,800. The house was built in 1961 and was last sold in 2014 for $225,000. Those owners remodeled the kitchen. (Residential-A, 0.139 acres)
May 23, 2023
- A three story house on Linda Court in the Meadows neighborhood sold for $460,000. That’s 24.12 percent over the 2022 assessment of $370,600. This property is on a cul-de-sac right on the board with Albemarle County. (Residential-A, 0.396 acres)
- A 1,211 square foot apartment unit in the Charlottesville Towers at 511 1st Street in the North Downtown neighborhood sold for $375,000. That’s 45.07 percent over the 2023 assessment of $258,500. (Residential Mixed Use 5, N/A)
- A two bedroom house in the 800 block of Altavista Avenue sold for $475,000. That’s 60.47 percent over the 2023 assessment of $296,000. The house last sold in October 2017 for $200,000. (Residential-A, 0.13 acres)
May 24, 2023
- A two bedroom house on Spruce Street in Belmont sold for $565,000. That’s 37.84 percent over the 2022 assessment of $409,900 and 5.59 percent above the 2023 assessment of $535,100. (Residential-A, 0.043 acres)
May 25, 2023
- A three bedroom house in the 100 block of Stribling Avenue in the Fry’s Spring neighborhood sold for $380,000. That’s 9.2 percent above the 2022 assessment of $348,000 and 5.26 percent below the 2023 assessment of $401,100. (Residential-B, 0.167 acres)
- An entity called ASM4 LLC purchased 1103 Druid Avenue in the Belmont neighborhood. That’s a two bedroom townhouse built as part of a Planned Unit Development in 2004. The sales price is $342,200. That’s 18.33 percent over the 2022 assessment of $289,200 and 8.7 percent above the 2023 assessment of $314,800. (Residential Mixed Use 3, N/A)
- A three bedroom house built in 2021 as part of the Belmont Point development on Stonehenge Avenue Extended sold for $575,000. That’s 14.7 percent over the 2022 assessment of $501,300 and 1.44 percent below the 2023 assessment of $583,400. (Residential-A, 0.09 acres)
- A four bedroom house in the 1600 block of Brandywine Drive in the Greenbrier neighborhood sold for $886,000. That’s 41.44 percent above the 2023 assessment of $626,400. (Residential-A, 1.1 acres)
- Another four bedroom house also in the 1600 block of Brandywine Drive sold for $1,195,000. That’s 42.69 percent above the 2023 assessment of $837,500. (Residential-A, 0.513 acres)
May 26, 2023
- A four bedroom house on Hilton Drive in the Fry’s Spring neighborhood split into two units sold for $462,000. That’s 10.79 percent below the 2023 assessment of $517,900. (Residential-A, 0.239 acres)
- A five bedroom house in the 1000 block of Druid Avenue sold for $685,000. That’s 29.07 percent over the 2021 assessment of $530,700 and 6.38 percent over the 2023 assessment of $643,900. And yes. I meant 2021. (Residential-A, 0.904 acres)
- A three bedroom house built in 1929 in the 800 block of Locust Avenue sold for $780,000. That’s 10.75 percent above the 2023 assessment of $704,300. (Residential-A, 0.232 acres)
- A three bedroom house in the 500 block of Druid Avenue in the Belmont neighborhood sold for $405,000. That’s 16.15 percent over the 2022 assessment of $348,700 and 0.32 percent below the 2023 assessment of $406,300. (Residential-A, 0.139 acres)
May 30, 2023
- A four bedroom house built in 1920 in the 2700 block of Jefferson Park Avenue Extended in the Fry’s Spring neighborhoo sold for $858,000. That’s 80.75 percent over the 2021 assessment of $474,700 and 11.11 percent over the 2023 assessment of $772,200. (Residential-A, 0.21 acres)
- Porterhouse Properties LLC is the new owner of 1622 Bruce Avenue. That’s a three bedroom house built in 1953 in the Barracks / Rugby neighborhood. The company paid $405,000. That’s 5.28 percent above the 2022 assessment of $384,700 and 8.74 percent below the 2023 assessment of $443,800. (Residential-A, .219 acres)
- A three bedroom house on Angus Road in the Meadows neighborhood sold for $387,000. That’s 11.3 percent above the 2023 assessment of $347,700. (Residential-A, 0.367 acres)
May 31, 2023
- Aspiring Developments LLC now owns one half of a three bedroom duplex built in 1979 in the 900 block of Rock Creek Road. That’s 25 percent over the 2021 assessment of $136,000 and 5.97 percent below the 2023 assessment of $180,800. (Residential-A, 0.111 acres)
- One half of a duplex in the 500 block of Moseley Drive sold for $282,000. That’s 17.45 percent above the 2023 assessment of $240,100.
- A condo in the recently constructed building at 550 East Water Street sold for $1.4 million. That’s 11.23 percent above the 2023 assessment of $1,258,700. (Node Mixed Use 10)
- Bella Signature Homes LLC purchased a lot in the 800 block of Ridge Street for $122,500. That’s 51.42 percent over the 2023 assessment of $80,900. This property last traded hands in October 2022 for $80,000. (Residential-A, 0.171 acres)
- One half of a duplex in the 1200 block of Holmes Avenue sold for $304,000. That’s 51.92 percent above the 2023 assessment of $200,100. (Residential-A, 0.086 acres)
