The Fan Real Estate Analysis

The Fan is a district of Richmond, Virginia, so named because of the “fan” shape of the array of streets that extend west from Belvidere Street, on the eastern edge of Monroe Park, westward to the Boulevard. (Though the streets rapidly resemble a grid after moving through what is now Virginia Commonwealth University). The Fan is one of the easterly points of the city’s West End section, and is bordered to the north by Broad Street and to the south by VA 195, although the Fan District Association considers the southern border to be the properties abutting the south side of Main Street.[2] The western side is sometimes called the Upper Fan and the eastern side the Lower Fan, though confusingly the Uptown district is located near VCU in the Lower Fan. Many cafes and locally owned restaurants are located here, as well as historic Monument Avenue. Development of the Fan district was strongly influenced by the City Beautiful movement of the late 19th century.

The Fan District is primarily a residential neighborhood consisting of late-nineteenth and early-twentieth century homes. It is also home to VCU’s Monroe Park Campus, several parks, tree-lined avenues and three of the city’s historical monuments. The District also has numerous houses of worship, and locally owned businesses and commercial establishments. The Fan borders and blends with the Boulevard, the Museum District, and the Carytown district.

Main east-west thoroughfares include Broad Street, Grace Street, Monument Avenue, Patterson Avenue, Grove Avenue, Floyd Avenue, Main Street, Parkwood Ave, and Cary Street.

Contents

  • Architecture
  • History
  • Maps
  • References

Architecture

Richmond is often subdivided into North Side, Southside, East End and West End

The Fan is one of many other Neighborhoods of Richmond Virginia

The Fan is often incorrectly described as significant for having one of the longest intact stretches of Victorian architecture in the United States, but most of it was actually built after the end of the Victorian era and is arguably more Edwardian and Revival in style. Almost all of the housing stock was constructed in the first decades of the twentieth century and exhibits the pared back victorianism of Edwardian architecture. Colonial Revival and American Craftsman architecture is common as well, with Revival architectural types arguably the most common (as was common to the time period) Revivalism (architecture).

Primary architectural styles represented include:

  • Italianate
  • Richardsonian Romanesque
  • Queen Anne
  • Colonial Revival

Other architectural styles include:

  • Tudor Revival
  • Second Empire
  • Beaux-Arts
  • Art Deco
  • Spanish
  • Gothic Revival
  • Bungalow
  • American Arts and Crafts Movement
  • James River Georgian
  • Southern Colonial
  • Jacobethan (Jacobean Revival)

Following a succession of owners, an architecture museum, the Virginia Center for Architecture, took occupancy in 2005 of Branch House on Monument Avenue a residence designed in the Tudor style by the firm of John Russell Pope in 1914.

History

The boundaries of the Fan

In 1817, the Fan was plotted as the village of Sydney on land formerly owned by William Byrd II. Primary development of the Fan occurred after the Civil Warthrough about 1920. Streetcar lines leading from downtown influenced development; the nation’s first electric streetcar system was inaugurated in Richmond in 1888.

As development increased from downtown at the turn of the 20th century, Franklin street became a fashionable “West End” address. A desire for a West End address drove rapid real estate development of the area, changing the area from rural tobacco fields in 1900 to being almost fully developed land by the 1930s. As development accelerated, the University of Richmond (then located on Lombardy Street) was moved west to a more rural location (its present Westhampton location). During the Great Depression, many of the single-family homes in the area were converted to apartments.

The term “the Fan” was coined in the mid 20th century by a Richmond Times Dispatch editorial, as the appellation “West End” no longer applied.

 

Information provided by : http://en.wikipedia.org/wiki/Fan_district

The Fan, Richmond Real Estate Market Stats

Average Home Values

Price Distribution


Owners vs Renters

Home Averages

$37 Average Price
2,358Avg Home Size
1909Avg Year Built

Local vs National Home Values

 LocalNational
Zillow Home Value Index $409,500 $195,700
Median Single Family Home Value $511,200 $194,200
Median Condo Value $213,400 $209,700
Median 2-Bedroom Home Value $229,600 $153,400
Median 3-Bedroom Home Value $413,200 $189,700
Median 4-Bedroom Home Value $626,400 $313,200
Percent Homes Decreasing 6.9% 16%
Percent Listing Price Reduction 5.8% 11.9%
Median List Price Per Sq Ft $219 $125
Median List Price 37 239,500
Median Sale Price 37 2,435,026
Homes For Sale 37 2,435,026
Homes Recently Sold 37 2,435,026
Property Tax $3,600 $2,147
Turnover (Sold Within Last Yr.) 6.9% 3.2%
Median Value Per Sq Ft $252 $132
1-Yr. Change 1.3% 6.9%
Homes For Sale By Owner 1 90,347
New Construction 2 126,104
Foreclosures 0 18,380

Local vs National Demographics

 LocalNational
Median Household Income 31,294 44,512
Single Males 34.1% 14.6%
Single Females 26.1% 12.5%
Median Age 35 36
Homes With Kids 9.2% 31.4%
Average Household Size 1 2
Average Commute Time (Minutes) 18 26

Walk Score for The Fan, Richmond



The Fan, Richmond School Data

Richmond School Districts

Richmond City Public Schools
n/a
Maggie L. Walker Gov School
n/a
Department Of Correctional Education
n/a
Medical College Of Va
n/a
Doe Sop Education Programs
n/a
Mcv Va Treatment Center
n/a
Metro Richmond Alternative Education
n/a

Richmond Schools

A M Davis Elementary School
PK-5, public
Bellwood Elementary School
PK-5, public
Bensley Elementary School
PK-5, public
Beulah Elementary School
PK-5, public
Crestwood Elementary School
PK-5, public
Falling Creek Elementary School
PK-5, public
Falling Creek Middle School
6-8, public
Greenfield Elementary School
PK-5, public
Hopkins Road Elementary School
PK-5, public
J G Hening Elementary School
PK-5, public
Manchester Middle School
6-8, public
Meadowbrook High School
9-12, public
Providence Middle School
6-8, public
Reams Road Elementary School
PK-5, public
Salem Church Elementary School
PK-5, public
Salem Church Middle School
6-8, public
Perrymont Middle School
6-8, public
Monacan High School
9-12, public
W W Gordon Elementary School
PK-5, public
Providence Elementary School
PK-5, public
Baker Elementary School
PK-5, public
Johnson Elementary School
PK-5, public
Brookland Middle School
6-8, public
Chamberlayne Elementary School
PK-5, public
Crestview Elementary School
PK-5, public

Posted on November 8, 2013 at 7:29 pm by Alex Glaser