Historic, Garage, Farmhouse, Income Potential, Acreage
1906 Lincoln Farmhouse, Detached Apartment, Workshop, 1 Acre — $120,000
7
out of 10
HousesUnder150K Score
Property Merit 50% · Condition 25% · Price/Sq Ft 15% · Market 10%
| Category | Wt. | Score | Detail |
|---|---|---|---|
| Property Merit | 50% | 8 | 1906 farmhouse, 1 acre, detached apartment, workshop, two outbuildings, covered deck |
| Condition | 25% | 4 | "Bring your imagination" investor language; no system dates, unknown roof/HVAC age |
| Price / Sq Ft | 15% | 9 | $46/sqft vs $133 zip median — 65% below; thin data (5 comps) but directionally strong |
| Price vs. Market | 5% | 9 | $120K vs $260,887 median — 54% below zip median; meaningful discount |
| Market Conditions | 5% | 7 | 38.7% price drops, 95.7% sale-to-list, 41 DOM — clear buyer's market signals |
At $46 a square foot, this place is either a project or a steal, and the answer depends entirely on what you find when you open the walls. The zip median is $133 per square foot. The area median sale price is over $260,000. At $120,000 for a 1906 farmhouse with a detached apartment, a workshop, two outbuildings, and an acre with views, the math is hard to ignore even before you walk through the door.
The main house is 1,496 square feet across two floors. Downstairs you have a living room that opens to the kitchen, one bedroom, a full bath, a laundry room, two flex rooms that could go several directions, and an enclosed porch adding another 485 square feet of usable space. Upstairs is a second bedroom and another full bath. Three full bathrooms total across the property. The covered back deck faces east and west, which is how the listing arrives at the claim about sunrises and sunsets, and that part at least sounds plausible on an acre of open land.
The detached unit is what makes this interesting. It is 635 square feet with its own living area, kitchen, full bath, and bedroom. It connects internally to an enclosed garage and workshop. That is a functional separate living space. Rent it, put a parent in it, use it yourself while the main house gets work. The two outbuildings add around 480 square feet of storage between them.
Here is the honest part: the listing says "bring your imagination," which in plain terms means the condition is unknown and the price reflects that. There are no system dates listed. Roof age, HVAC age, and electrical status are all open questions. This is a 118-year-old house and it will have 118-year-old problems somewhere. Budget for that before you budget for anything else.
What the price makes possible is real, though. For someone who can absorb a renovation on a 1906 farmhouse, this is two livable structures on an acre in a buyer's market, at a price that leaves room to work.
