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Agree strongly with the shutter comment. You could also add window boxes and a custom made trellis on the open side of the porch. The trellis could have a big opening in it to function as a "window" but vines on the trellis could circle this opening.
When choosing house paint colors keep in mind the color of the roof as one component of the mix. Also note that neutral colors for the body of the house will allow your landscape plants to take front stage, while primary and secondary colors will limit your choice of plants to use and they may not stand out as much. (For example, yellow flowers may disappear or clash with a tan house.)
That's a cute little house. You don't need an architect; you need some paint, some yard tools, and some elbow grease.
If it were my house, I'd paint the house a nice beige or gray, and paint the trim green. I like green. What are your favorite colors? Use them. I wouldn't paint the concrete, though. You'll regret it, because it will need forever painting.
Dig the grass out from the cracks in the sidewalk; that alone will improve the look of the house instantly.
If you're in an artistic area where colorful houses are the norm, or at least acceptable, I'd say have some fun with it. It doesn't have to be garish, but if, for example, your favorite color is purple, something like this or this. A red house could be something like this or "Old Red House" about halfway down the page here or even a brighter color scheme like this. Yellow could be soft or bright or deep. Live a little - it's only paint, and you can always paint it something more neutral if necessary if you should decide to sell (though it sounds like in your neighborhood that might be a minus rather than a plus).
Also, consider having something other than grass in the lawn - xeriscaping offers some lovely alternatives depending on your area and/or herbs and low-maintenance flowers (lavender or other herbs, for example, provide not only beauty but scent when brushed, and iris and similar bulb plants are very low maintenance but can be spectacular when blooming and provide greenery when not). Vines on trellises are another option. I'd talk to someone at the best most interesting plant nursery in your area for ideas.
Kind of surprised by the responses so far. I think the house is very cute. It also reminds me where I grew up so that probably is a big factor. I like shutters. I can't tell what the material is on the house. Is it vinyl, aluminum? If its wood, I would paint the house a barn red, white shutters, add some window box with colorful flowers. Or go with yellow, white trim and a bright red front door.
It's plain to me that there was once a cute little bench beneath that window on the porch, directly beyond the steps. Which leads me to something else... You know, your college library probably has archived home magazines from the decade your house was built. And there were house plan books, etc. Very charming illustrations, of course. That will show you what kind of landscaping was considered ideal at the time, and many other things.
In Baton Rouge, in the U district, little houses like that get a formalized treatment, to make them more upscale. In other words, they're taken from 'Salt Box' into High Style Connecticut Neoclassical Colonial. That would involve things like adding important window heads and door surrounds, trimming the posts out to resemble Doric Order columns, adding hinged & paneled shutters, adding a Chippendale-style balustrade....
But looking at period illustrations of houses like yours may clue you in on the designers' original intent, which may be more charming than going formal.
I think the house has great potential. I'd play up it's cuteness with a cottage look. Do a cottage garden, window boxes, trellis at the porch to give character, a wooden bench on the porch under the window, potted plants on the porch and steps, white picket fence, etc. It will look awesome!
Well, the sky's the limit! But what's the budget? We could go on for days talking about shutters and grass in a crack- but why, if we don't know how much money you're willing to spend?
And what exactly is a "cheap buy"?
Cheap to your income level, or cheap versus the comp's? And of the comp's what has been done/not done to them that raised or suppressed their value?
In other words, what can you realistically spend that won't "over value" the house from the rest of the homes?
From what I can see of the houses on either side, I probably wouldn't invest a lot.
Definitely landscaping... including some kind of climbing vine or tree you could train over time to create a trellis or archway over the entryway onto the porch. Once it filled-out it would look really nice. I'd paint the house and shutters, definitely. And for the walkway and porch I'd prolly do some kind of stone or cobblestone path (look in Sundance magazine for ideas - they always have clever ideas on how to do walkways and patios). For the yeard I'd get rid of the grass and try some xeriscaping. It would look nicer and not need as much if any watering. (Or mowing or possibly even fertilizing. )
Wow thanks for the responses everyone! As far as how much I paid for it...I paid $27,500, which is super cheap for the area. The inside is really cute but is lacking a lot of stuff that most houses in the area have, hence the low price. Needs central heat and air, which I'm installing ASAP. Also needs some cosmetic stuff. Having new tile put in the kitchen and bathroom and the hardwood floors resurfaced, new appliances installed, etc. It's just the outside that I don't even know where to begin.
My budget - I'm not really sure about because I don't plan on doing this all immediately. It's a project house that I'm going to be working on while I finish college. I'm not about to hire an architect and change the pitch of the roof or redesign the windows. But painting, landscaping, new shutters, and accessories are all in the budget for sure.
I definitely read every response and have a lot to think about. Keep them coming!
Kind of surprised by the responses so far. I think the house is very cute. It also reminds me where I grew up so that probably is a big factor. I like shutters. I can't tell what the material is on the house. Is it vinyl, aluminum? If its wood, I would paint the house a barn red, white shutters, add some window box with colorful flowers. Or go with yellow, white trim and a bright red front door.
If I didn't say so earlier I also think the house is cute. It would be cuter if it were painted and had nicer landscaping. I don't think it needs a ton of expensive work, just some sprucing up.
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What are your favorite colors? Use them. I wouldn't paint the concrete, though. You'll regret it, because it will need forever painting. 
