Waterfront, Historic
Waterfront-Qualifying Washington NC Home with Extra Lot — $118,998
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 | Waterfront floor qualifier; bonus 0.26-ac lot; historic downtown walkable; 3BR/1BA |
| Condition | 25% | 5 | 1968 build, no system dates named, no renovation history; condition unknown |
| Price / Sq Ft | 15% | 8 | Listing $130/sqft vs zip median $195/sqft — 33% below; thin 7-comp data, directional |
| Price vs. Market | 5% | 8 | $118,998 vs $344,851 zip median — 65% below; median likely skewed by larger homes |
| Market Conditions | 5% | 7 | DOM 54 days, sale-to-list 96.3%, price drops 43.3% — clear buyer's market signal |
The price is $118,998. That number looks like a typo until you see that the zip code median is $344,851. Now, those are different houses — bigger ones pulling the median up — but even on a per-square-foot basis, this property comes in at $130 against a zip median of $195. That's a real gap, not a rounding error.
What you're looking at is a 912-square-foot, three-bedroom, one-bath house built in 1968 on Vermont Avenue in Washington, North Carolina. The lot qualifies as waterfront, which is the thing that stops you when you first pull the data. There's also a separate 0.26-acre lot included in the sale, which puts you at roughly half an acre total. That's a meaningful amount of land for a sub-$120k purchase, and it's land you could build on, hold, use as a buffer, or just let sit while you figure out what you want.
The house itself is small. 912 square feet for three bedrooms means those rooms are compact. One bathroom for however many people you put in there. It's a 1968 build with no renovation history listed and no system dates in the data, which matters. You don't know when the roof was last touched, what the HVAC situation is, or what's behind the walls. That's the honest version of "condition unknown," and it's the part of this that deserves real attention before you commit. Budget for surprises.
Historic downtown Washington is walkable from here, and the waterfront access that qualifies the lot classification is presumably close. Washington sits on the Pamlico River, so this isn't a decorative distinction.
The market has been slow on this one: 54 days on market, a price cut or two among the comps, and a buyer's market overall. None of that is unusual for a house with question marks around condition. It does mean you have room to negotiate.
Half an acre of waterfront-qualifying land in a walkable historic district for under $120k is the story here. What you do with the house is a separate question, and the answer depends entirely on what the inspection turns up.
Originally listed for $118,998, this property sold for $74,000 on October 14, 2022.
