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It was more about, if someone was looking to live debt free, this might be an answer, South Dakota has a real low unemployment rate....the casino is about 15 min away, there is a small town with some stores, 15 miles away, the larger town, Watertown, is about 45 min. away....also it is in the middle of hunting country, so it could always be used for that.... just a though.
A home with a lot of potential that is not financiable in it's present condition. It will have to go to a cash buyer. People complain about flippers, but this is what they often start with. If the market will support it, someone will come in and re-side (at minimum), re-trim and repaint this place inside and out, hopefully save the floors, put in a new kitchen (maybe) and new bathrooms, and replace many of the windows to make it qualify for a loan and make it truly liveable. It probably needs about $42K spent on it, assuming the mechanicals and plumbing all work. More if they don't.
I did, Realtor.com has 30 pictures on it. There has been work done on the back side of the house. Kitchen doesn't look too bad at all! Steel roof and vinyl siding on the back side. Movinon is right-handyman special. Never been to that part of South Dakota, just Sioux City and Rapid City.
I've been looking around and there are plenty of rural areas where pricing seems more reasonable than others. They are cheap for a reason. The only thing I see wrong with these rural properties is that they are far from employment opportunities, shopping, and medical services. I don't mind driving 40 miles (round trip) for some acreage but not a house on a half-acre lot.
Please be honest - would you buy it and do you consider it livable?
Of course it's livable. Millions of Americans live in houses older, smaller and a lot less nice than that. It's amazing what people consider livable these days. If it's not a 5 bedroom 5 bath McMansion with a 5 car garage built in the last 20 years then it's clearly not livable.
If I had the money to buy that and fix it up nice, I wouldn't hesitate after making sure that it's structurally sound, which it appears to be.
Though I don't know about that price. There was a real estate agent on YouTube about 10 years ago, who liked to make videos about simular old houses in St Louis that could be bought for as little as $5,000 cash. He stopped making the videos. I guess those deals have all dried up.
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