A Rare Opportunity to Restore a Piece of Arkansas History: The Hotchkiss House in Monticello – $39,900

A Rare Opportunity to Restore a Piece of Arkansas History: The Hotchkiss House in Monticello

Nestled in the heart of Monticello, Arkansas, at 517 N Boyd Street, stands a home that is far more than wood, brick, and mortar—it is a tangible piece of local history.

Priced at an incredible $39,900, this 2.5-story historic residence, known as The Hotchkiss House, offers a once-in-a-lifetime opportunity for homeowners, investors, and preservation enthusiasts to bring new life to a nationally recognized property.

Listed on the National Registry of Historic Places, the Hotchkiss House is a rare architectural gem that reflects the craftsmanship and elegance of a bygone era. For those with vision, patience, and a love for historic homes, this property presents the chance to restore and personalize a residence that has stood the test of time.

Historic Character You Can’t Replicate

From the moment you step onto the property, the historic charm is undeniable. The home’s covered front porch invites you to slow down and imagine evenings spent rocking gently while watching the neighborhood pass by. Inside, you’re greeted by custom, detailed woodwork that immediately sets this home apart from modern construction.

The entry showcases beautifully preserved craftsmanship, from the staircase detailing to the fireplace casings and trim—features that simply cannot be recreated at today’s building costs. These architectural details speak to a time when homes were built to last and artistry mattered just as much as function.

Spacious Layout with Endless Potential

The Hotchkiss House offers four bedrooms and two and a half bathrooms, providing ample space for a growing family, a multi-generational household, or even a future bed-and-breakfast or short-term rental (subject to local regulations).

The layout includes two separate living areas, allowing for flexible use of space—perfect for entertaining, relaxing, or creating dedicated work-from-home zones.

A formal dining room adds to the home’s classic appeal, offering the perfect setting for family dinners or holiday gatherings. Large rooms and tall ceilings throughout the house enhance the sense of openness and grandeur that historic homes are known for.

With 2.5 stories, the home also features balconies, adding visual interest to the exterior and offering additional outdoor spaces that could be restored into serene retreats overlooking the neighborhood.

A Canvas for Restoration and Creativity

This property is being sold as-is, with no disclosures available, making it ideal for buyers who understand the scope and reward of restoration projects. While updates and repairs will be necessary, the home’s structure, layout, and historical significance provide a strong foundation for transformation.

Whether you envision restoring the home to its original historic elegance or blending old-world charm with modern upgrades, the possibilities are vast. Original features can be highlighted while kitchens, bathrooms, and systems are modernized to today’s standards—all while preserving the character that makes this home special.

Investment Potential and Freddie Mac First Look Initiative

One of the most compelling aspects of this listing is its eligibility under the Freddie Mac First Look Initiative through December 14, 2025. This program gives owner-occupant buyers and certain non-profit organizations an exclusive opportunity to purchase the property before it becomes available to investors.

For buyers looking to own rather than flip, this initiative creates a unique window to secure a historic home at an accessible price point. It also makes the property attractive for those seeking long-term value, as restored historic homes often appreciate significantly when properly maintained.

Important Buyer Information

All offers must be submitted with proof of funds or a lender approval letter, emphasizing the seriousness of the sale. Agents are instructed to carefully review the agent and confidential remarks section for additional details and showing instructions.

Square footage and lot size are based on tax records and are not guaranteed, a common consideration with older homes. Parking features are listed as none, though buyers may explore options depending on local regulations and property layout.

Why Monticello, Arkansas?

Monticello is known for its small-town charm, rich history, and close-knit community. Home to the University of Arkansas at Monticello, the city offers a blend of academic influence, cultural heritage, and Southern hospitality.

Historic homes like the Hotchkiss House play a vital role in preserving the character of the area while contributing to neighborhood revitalization.

Owning a home on the National Registry of Historic Places also brings a sense of pride and responsibility. It allows homeowners to become stewards of history while potentially qualifying for preservation incentives or grants, depending on future restoration plans and eligibility.

A Rare Chance to Make History Your Home

At $39,900, properties of this size, character, and historical importance are becoming increasingly rare. The Hotchkiss House is not just a house—it’s an opportunity to create something meaningful, whether as a personal residence, a restoration project, or a long-term investment.

For the right buyer, this home offers the chance to honor the past while shaping the future. With its intricate woodwork, generous living spaces, and historic designation, 517 N Boyd Street stands ready for its next chapter.

FROM ZILLOW