This home would be a bargain if it has a standard perimeter foundation. But a look in the crawlspace reveals the home sits on a post and peer foundation that has no stem wall around the outer edge. There is sheet metal that runs from the floor framing to the ground, and creates a skirt to keep our pests, but the there is no concrete holding up the house. The floor plan is also less than optimal. Both bathrooms are down stairs, but neither one services the downstairs bedroom, so you can’t really call the downstairs a master bedroom suite. The other bathroom is off the laundry room, and there are several height changes between the bathrooms and kitchen area. This probably has something to so with the lack of a foundation, and bootleg additions that were made in the 1950’s and 1960’s before people considered it necessary to get a permit to add a bathroom or enclose a porch for a bedroom or modify an attic to make it into living space. It appears this home has had all of the above, albeit, probably decades ago or more.
What does this home say about the market? Great question. A foundation might cost $25,000. If it sells for full asking price to a cash buyer, and the buyer immediately put on a new foundation, it might sell for $325,000. We will just have to watch it and see what happen.