Acreage, Lake Access
1972 Ranch on a Gated Lake Community Acre, 41% Below Zip Median — $138,000
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 | 1.03-acre gated community lot, covered patio, ranch layout, lake lifestyle setting |
| Condition | 25% | 5 | No system dates named, 1972 build, "Special Sales Contract" suggests as-is or estate conditions |
| Price / Sq Ft | 15% | 5 | Listing $143/sqft vs zip median $131/sqft — slightly above median; thin 8-comp data |
| Price vs. Market | 5% | 7 | $138K vs $234,931 median — approximately 41% below zip median sale price |
| Market Conditions | 5% | 6 | DOM 42 days median; 36% price drops strong buyer signal; 96.7% sale-to-list mild advantage |
The price is the first thing worth understanding here. The zip median for sold homes runs around $235,000. This one is listed at $138,000. That's a real gap, and on a 1.03-acre lot inside a gated lake community called Grayhawk in Ste. Genevieve, Missouri. That combination — acreage, gated access, lake setting, sub-$140K price — is what makes this property worth a look even before you get to the house itself.
The house is modest. Built in 1972, it's 968 square feet, two bedrooms, one bath, ranch layout. At that size, it functions as a weekend cabin as much as a full-time home, and depending on what you're looking for, that could be exactly right. There's a covered patio out back, which on a wooded acre lot like this gets used constantly. That's where most of the living happens in a place like this.
The condition picture is murky. The listing sells this as move-in and says almost nothing about systems, updates, or what's been touched since 1972. The "Special Sales Contract" language typically signals an estate sale or as-is situation, which means the seller likely won't negotiate repairs, and you're buying what you see. At 52 years old with no documented work, this house probably needs attention. What kind, and how much, you won't know until an inspection. Budget accordingly.
The price per square foot is slightly above the zip median, which is worth noting given the condition unknowns. But the overall price relative to the market is where the math gets interesting. Forty-one percent below the zip median on a gated community lot with acreage. That's the number that explains why this has been sitting 42 days in a market where 36 percent of listings have already taken price cuts.
For someone who wants a base camp near a lake within an hour of St. Louis, and is comfortable buying older and fixing what needs fixing, this is a workable setup at a price that leaves room to do it. The land is the asset. The house is a project.
