Historic, Finished Basement, New Roof, Acreage
1940 McRae Helena House, 2,622 Sq Ft, Basement, Big Lot — $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 | 1940 historic, 2622 sqft, 4BR/2BA, 0.57 acres, basement — strong bones |
| Condition | 25% | 6 | Partial reno done — new roof, electrical, windows; cosmetic finishing work remains |
| Price / Sq Ft | 15% | 10 | $46/sqft listing vs $98 zip median — 53% below; thin 6-comp data but directional signal strong |
| Price vs. Market | 5% | 4 | $120K vs $119,455 median — essentially at median; not a price discount story |
| Market Conditions | 5% | 8 | DOM 84 days, sale-to-list 91.5%, 24.7% price drops — clear buyer's market |
At $46 a square foot, this house is hard to ignore. The zip median runs $98. That gap is wide enough to matter even accounting for the work still ahead, and the work ahead is real but not starting from zero.
The house is a 1940 four-bedroom on Huckabee Street in McRae Helena, Georgia. 2,622 square feet, two full baths, a basement, and a little over half an acre. The previous owner got through the big structural items: new roof, updated electrical, new windows. Those are the expensive, unglamorous fixes that buyers usually inherit as surprises. Here they are already done. What remains is cosmetic finishing work, which means paint, floors, fixtures, surfaces. The things you can see and choose. Slower work, but your work.
The layout puts three bedrooms on the main floor with one bath, and one bedroom upstairs with a second bath. That upstairs bedroom has some separation from the rest of the house, which could work well for a guest room, a teenager, or a home office if you only need three sleeping rooms. The basement adds space that the square footage may or may not fully account for depending on how it was measured. More room to figure out what you need it to be.
The lot at 0.57 acres gives you real outdoor space. Not a token yard. Something you can actually move around in, garden in, or just leave alone.
The honest part: at $120,000, this house is priced right at the local median. The price per square foot is low, but you are buying into a market where homes have been sitting 84 days on average and selling below list. This is a buyer's market, and the pricing reflects that reality rather than a seller giving something away.
What $120,000 buys you here is a big, old house with its skeleton already addressed. You bring the finishing work and the time. In return you get four bedrooms, a basement, half an acre, and a 1940 house that has a lot more room than its price suggests.
