Historic, Stone Construction
1879 Spring Grove House on Stone Foundation, Move-In Condition — $126,500
6
out of 10
HousesUnder150K Score
Property Merit 50% · Condition 25% · Price/Sq Ft 15% · Market 10%
| Category | Wt. | Score | Detail |
|---|---|---|---|
| Property Merit | 50% | 7 | 1879 build, stone foundation, 1,392 sqft, 3BR/1.5BA, walkable parks and memorial |
| Condition | 25% | 6 | Described move-in ready; no system dates given; vinyl siding and asphalt roof noted |
| Price / Sq Ft | 15% | 7 | Listing $91/sqft vs zip median ~$116/sqft; ~22% below median, thin data (5 comps) |
| Price vs. Market | 5% | 7 | $126,500 vs zip median $254,390 — roughly 50% below; thin market with 2 sales |
| Market Conditions | 5% | 6 | DOM 4 (fast), sale-to-list 98.3%, but 39.6% price drops — mixed signals, floor applies |
At $126,500, this house is priced at roughly half the zip code's median sale price. That number is worth sitting with for a second. Even accounting for thin sales data and a small market, that kind of gap is real. You are looking at $91 per square foot in a zip where comparable homes have been selling closer to $116. For a three-bedroom house in a small Minnesota town, that is genuinely low.
The house itself was built in 1879 and sits on a stone foundation. That is old construction, and the stone foundation is the kind of detail that makes a house feel like it was built to stay. Whether it actually has been is harder to know from the listing — no system ages are given, which means you will want to press on mechanicals, roof condition, and anything the vinyl siding might be covering up. The agent calls it move-in ready, and maybe it is, but that phrase does a lot of work without much behind it here.
What you get is 1,392 square feet across two floors, three bedrooms, and a full bath plus a half. That is a workable layout for a small family, for someone who wants a guest room and a home office, or for a person who just wants to be done paying rent and have a place that is theirs. The size is honest, not sprawling but not tight. It gives you room without demanding constant maintenance.
The location puts you close to Roverud Park and the Spring Grove Area Veterans Memorial, which the agent mentions specifically, so the walkability to those spots seems genuine. Two more parks, Trollskogen among them, are nearby.
The market here sends mixed signals. Homes that sell move fast, four days on average, and close near asking. But nearly 40 percent of listings have taken price cuts, which means sellers have been testing the ceiling and finding it. There is likely room to negotiate on this one.
The downside is the information gap. A 145-year-old house with no disclosed system dates needs a thorough inspection before you commit to anything. Plan for that.
What the price makes possible is this: homeownership in a real community, in a house with actual history, for less than most people pay for a new car loan and a down payment combined.
