Why Is This “Move-In Ready” South Dakota Home Only $25,000?
Anyone who has looked at home prices in South Dakota has probably needed to be picked up off the floor from sticker shock. It's no secret that real estate prices are hot.
However, I found a home that I would call 95% move-in ready for only $25,000! This home at 1009 South 1st Street in Aberdeen has three bedrooms, one bath, and 1,300 square feet. The home was built in 1901 and features beautiful woodwork, hardwood floors, and other touches that add a ton of charm that you won't find in the modern home.
As you look through the pictures below, you'll see the original woodwork is intact and in great shape. There are a couple of issues like that hole in the kitchen ceiling and the bathroom needs a complete remodel. Some new carpet wouldn't hurt either, but everything else appears to be in good shape including the kitchen cabinets. There also appears to be a newer patio door. Who knows what condition the plumbing and electrical are in though.
So why is this charming home only $25,000? For that money you only get the house, the lot and garage are not included. The home needs to be moved and the new owner will be on the hook to pay for the move.
But even if the home has to be moved, you would still have a decent property after factoring in the expense of moving the house and buying a lot. You'll probably have over $100,000 into this property by the time you're done. But if you think of it this way, you probably could not just the home for $25,000, let alone one that has this kind of charm.