Real Estate

A home with a haunting connection to an infamous crime in Bucks County was quietly put up for sale this month.

Driving the news: The 2827 Aquetong Road home, which is listed for $700,000, is where authorities discovered a Nissan Maxima belonging to Thomas Meo, one of four men who went missing in July 2017 and were later discovered buried in makeshift graves on a farm nearby, according to police records and Google Maps.

A local real estate developer's ambitious plan to transform the Tioga neighborhood in North Philadelphia is one step closer to becoming a reality.

Driving the news: Anthony Miles of TPP Capital Holdings is getting a $675,000 loan from the Philadelphia Accelerator Fund, a $10 million city-backed pot dedicated toward helping Black and brown developers.

Philadelphia’s property tax system is at a “key moment” following the release of the first citywide reassessments in years.

• That’s according to a new report from Pew Charitable Trusts that analyzed our tax system and compared it to 10 peer cities, including New York City, Chicago and Baltimore.

Why it matters: Philly has a history of irregular, inconsistent and seemingly unfair assessments.

• A scathing audit in 2020 found significant inaccuracies, leading to a series of reforms and the ousting of the city’s chief assessment officer.

Catch up quick: The city skipped reassessments for tax years 2021 and 2022 due to those concerns about accuracy as well as pandemic-related issues.

• New 2023 citywide assessments were released this past May, and systemic inaccuracies appear to persist, with the tax burden distributed unequally, according to the Inquirer.

Zoom in: The property tax bill for a “typical owner-occupied home” in the city was $1,131 in 2021, according to Pew — less than any comparable city besides Detroit.

• Residential property values increased 31% on average citywide this year since the last assessment in tax year 2020.
• The city has made adjustments to the property tax system over the years to help ensure better accuracy and fairness, such as accounting for a property’s characteristics.
• Plus: Officials boosted the homestead exemption to $80,000 this year, which Pew said was generous compared to other cities.

What they’re saying: “How well those adjustments are received, along with the new assessments, will go a long way toward determining whether Philadelphians become more accepting of the property tax,” the Pew report says.

By the numbers: Pew found that residential properties account for 71% of Philly’s property tax revenue in 2021 — the highest share among comparable cities.

Yes, but: Property taxes only accounted for roughly 15% of the city’s budget in fiscal year 2021 — far less than the median for the other peer cities (31.5%).

Go deeper: Read the full report.

Philadelphia added 8,000 mixed-use apartments between 2012 and 2021, per a recent report from RentCafe, a nationwide apartment-search website.

• That accounts for nearly 40% of the units built in Philly in that timeframe, securing our city's spot at the forefront of a national housing trend.

Whether you prefer the newly renovated neutral aesthetic or the charm of a character-filled old-school home, this week's roundup has a little something for everyone.

6035 Chester Ave. — $200,000

Why we love it: Recently renovated, this townhouse has a white kitchen, light floors and clean finishes throughout.

• Neighborhood: Kingsessing
• Specs: 3 bedrooms, 1.5 bathrooms, 1,368 square feet
• Listed by: Monazel Abdulelah at Keller Williams Philly
• Features: Bright and airy, spacious entry, open living area.

130 Myrtle Ave. — $320,000

Why we love it: This retro abode might not be everyone's taste, but we know the pink dining nook and kitchen, wallpaper and vintage bathroom tile will make some of your hearts flutter.

• Neighborhood: Cheltenham
• Specs: 5 bedrooms, 1 bathroom, 1,992 square feet
• Listed by: Dawn McCormac at Realty ONE Group Unlimited
• Features: Welcoming front porch, 3-car garage, third-floor flex space.

439 W. Hansberry St. — $449,000

Why we love it: With a formal dining room, gorgeous kitchen with wine rack and fridge and a fenced-in yard, this home was made for entertaining.

• Neighborhood: Germantown
• Specs: 6 bedrooms, 2.5 bathrooms, 2,631 square feet
• Listed by: Remy Pizzichini at Compass Pennsylvania, LLC
• Features: Built-ins, bay windows, neutral finishes throughout.

806 S. Front St. — $659,000

Why we love it: This two-bed is a cottage core dream with original wood floors, a wallpapered powder room, exposed brick and beams and a spacious patio with a garden.

• Neighborhood: Queen Village
• Specs: 2 bedrooms, 1.5 bathrooms, 1,340 square feet

• Listed by: Reda Akbil at Compass Pennsylvania, LLC
• Features: Two original wood burning fireplaces, new kitchen with fun tile backsplash and fruit knobs, tons of storage.

1102 N. 2nd St. Unit C — $845,000

Why we love it: Nothing says luxury like a private elevator, rooftop deck, dual bathroom vanities and floor-to-ceiling windows.

• Neighborhood: Northern Liberties
• Specs: 3 bedrooms, 2 bathrooms, 1,360 square feet
• Listed by: Michael Stillwell at JBMP Group
• Features: Walk-in closets, built-in storage, open living area, gourmet kitchen.

While Philly has plenty of world-class architecture and historical charm, it also has its share of flops and fails.

State of play: We asked readers to call out the worst offenders in the City of Brotherly Love and they delivered.

One of the city's newest luxury condominiums has popped up near the Ben Franklin Parkway.

State of play: 2100 Hamilton, a 10-story building with 26 units and one penthouse, wrapped up nearly three years of construction in March.

Whether you're on the hunt for a high-end home or just appreciate the eye candy, this week's collection of hot homes is all about luxury.

5542 Florence Ave. — $275,000

Why we love it: The open layout, spacious blue and white kitchen and finished basement with a drink fridge and bar makes this home ideal for folks who like to entertain.