Restored Tudor Revival on Monument Avenue tops May home sales

The Tudor Revival-style house at 2023 Monument Ave. sold for $1.89 million last month. (Photos courtesy of CVRMLS)

A Monument Avenue home’s decades-long journey from deterioration to restoration concluded last month with the region’s priciest home sale recorded in May.

The restored Tudor Revival house at 2023 Monument Ave. topped the list with its May 4 sale, which matched its most recent list price of $1.89 million.

The century-old home, totaling 7,800 square feet, had originally been listed for $2.59 million in 2019. It was taken off-market in April 2020 and relisted Jan. 28. It was put under contract a week later.

A staircase with balustrade highlights the main floor.

The listing was shared by Anne Chewning with The Steele Group | Sotheby’s International Realty and Jill Davenport with Joyner Fine Properties. They represented sellers Mary and Thomas Horton, who undertook an extensive renovation after purchasing the then-deteriorated house in 1995 for $165,000.

Chewning said she and Davenport dropped their asking price when they relisted the house due to changes in the market since 2019.

“It’s a wonderful, great lady,” Chewning said of the home. Post-renovation, the 0.18-acre property was most recently assessed by the city at $1.73 million.

City property records list the buyers as Matthew and Nicole Walker. They were represented by Shane Lott with Rashkind Saunders & Co. Real Estate.

The full basement includes a billiards room and media room.

Lott, who recently purchased her own home a couple doors away, said she alerted her clients to the original listing and they jumped at it when it came back on the market. She declined to discuss her clients, stating they desired privacy.

“It was uninhabitable when the previous owners had bought it, and they had done a massive renovation to make it beautiful with the original architecture and history,” Lott said. “My clients loved the history of the home and that it had been brought up to the architectural standards, and it also provided them an opportunity to do some future updates themselves.”

Built in 1908, the 2½-level house was designed by noted architect Claude Howell and is recognized as the earliest Tudor Revival built on Monument Avenue, as well as one of the first Tudor-style houses ever built in Richmond.

The restoration, conducted in the mid-’90s, involved local architect Jay Hugo, now managing principal with locally-based 3north, as well as downtown architecture firm SMBW.

The wine cellar and tasting room.

Totaling five bedrooms and bathrooms, the house includes an upstairs owner’s suite with dual bathrooms, while the main floor is highlighted with a staircase with decorative railing. The full basement has a wine cellar, rec room, kitchenette and bathroom, and the house includes seven fireplaces. A two-car detached garage and patio areas fill out the property.

Rounding out the top five sales for May were, according to the Central Virginia Regional Multiple Listing Service:

  • 459 Rivergate Drive, Rivergate, Goochland – $1.57 million. Listing agent: Sue Farrell, Joyner; buyer’s agent: Tara Kelley, Keller Williams.
  • 623 Dover Bluff Court, Meadows at Manakin, Goochland – $1.51 million. Listing agent: Pam Diemer, Long & Foster; buyer’s agent: Karen Stephens, Joyner.
  • 5951 River Road, Chatham Hills, Henrico – $1.5 million. Listing agents: Scott Shaheen and Scott Ruth, SRMF Real Estate; buyer’s agent: Nancy Cheely, Joyner.
  • 201 Walsing Drive, Dorset Woods, Henrico – $1.47 million. Listing agent: Laura Peery, Steele Group; buyer’s agent: Debbie Gibbs, Steele Group.

Subscribe
Notify of
guest
10 Comments
oldest
newest most voted
Inline Feedbacks
View all comments
kay christensen
kay christensen
12 days ago

An absolutely gorgeous home! Well done!

Sam Colt
Sam Colt
12 days ago

Why would anyone buy a house on Monument Avenue? The monuments are gone. What a joke.

kay christensen
kay christensen
12 days ago
Reply to  Sam Colt

Because most of the homes are architecturally significant and beautiful. Take a look sometime.

Charles Frankenhoff
Charles Frankenhoff
10 days ago
Reply to  Sam Colt

You do realize that no one who buys on Monument cares about the monuments? That’s just something that people like you who don’t ever visit Richmond care about?

Abe Gomez
Abe Gomez
12 days ago

“Chewning said she and Davenport dropped their asking price when they relisted the house due to changes in the market since 2019”

I wonder if the significant drop in price has anything to do with the civil unrest on monument ave? After seeing what this house sold for vs its perceived value one would think this whole area has dropped 20-+% in value while the surrounding area(s) are inflated in value. If you’re on monument ave…get out while you still can! 

Charles Frankenhoff
Charles Frankenhoff
10 days ago
Reply to  Abe Gomez

No need to wonder your entirely wrong just to Google the data. Market is higher now than it was in 2019, it shouldn’t take you more than a minute to figure that out

Abe Gomez
Abe Gomez
9 days ago

Then why was the house taken off the market, relisted, and sold for a significant less amount? Refer back to the quote on my post – quoted from the article itself!

charles Frankenhoff
charles Frankenhoff
9 days ago
Reply to  Abe Gomez

seriously? Have you ever met a real estate agent? Look at data, not anecdote. The market is better than 2019. House sold for less because it wasn’t priced correctly. There are innumerable pieces of data online that will show you this, you barely have to google.

Honestly, your take is remarkably uneducated, though I don’t think your point here was accuracy.

Sean Stilwell
Sean Stilwell
9 days ago
Reply to  Abe Gomez

Simple. It was overpriced in 2019. 17 Homes have closed on Monument Ave in the last 365 days. Most (65%?) sold within the first week on the market, even at similar price points. It’s the largest and most expensive home sold on Monument in the last year. Nice home, but the upgrades appear dated and some of the footage was basement level (a diminishing return across the $/sf metric). These homes are hard to price, I don’t fault anyone involved for giving the higher price a shot while trying to find the market rate. 1839 Monument is under contract (on… Read more »

charles Frankenhoff
charles Frankenhoff
7 days ago
Reply to  Sean Stilwell

oh, I don’t fault the real estate agents for fishing at all. I would have done the same. And the spin is normal. But no one should take that as meaning the market is dropping.