1880 Pueblo Adobe in Cimarron's Historic District — $117,000

The walls on this place are over 140 years old. That is the first thing to sit with. Pueblo-style adobe construction from the 1880s, in Cimarron, New Mexico, a town with a genuine Wild West history. The building is still standing and someone has been putting real work into it.

The recent updates are extensive. New exterior stucco and paint, wood flooring throughout, all windows replaced except three, newly plastered interior walls, new gutters, new kitchen cabinets and countertops, a new toilet and bath vanity, and an on-demand hot water heater. Some of the electrical has been updated. Two pellet stoves and a wall heater handle warmth. For a house this old, that is a lot of ground covered in a short period.

That said, there is more work to do. The agent description says it plainly: the property needs TLC. The seller is leaving building materials behind to help whoever buys it finish what was started. That is an honest framing. You are buying an old adobe in the middle of a renovation, not a finished product.

The lot is half an acre, fenced, with a lean-to pole barn on it. For a small town property at this price, a half-acre gives you real room. The barn is basic but it is there.

The house is 1,416 square feet, three bedrooms, one bath. The appliances convey: washer, dryer, refrigerators, and freezer. That is useful when you are already absorbing a renovation.

Cimarron sits at the edge of the Sangre de Cristo Mountains. The St. James Hotel, a landmark from the same era as this house, is in town. The setting is remote by most measures. If you are looking for that specifically, this is a real version of it, not a polished simulation.

At $117,000 for an 1880s adobe on half an acre with a significant list of updates already done, the math is straightforward. The work left to do is the variable. If you go in knowing that, this is a house worth looking at hard.