Hidden Gem, Finished Basement, Character Home
1956 Parma Ranch, 2184 Sq Ft, Finished Basement — $114,900
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 | 2184 sq ft ranch, finished basement, hardwood floors, covered patio, carport, shed |
| Condition | 25% | 6 | "Room to add personal touches" signals cosmetic work needed; systems unknown, no update dates |
| Price / Sq Ft | 15% | 10 | $53/sqft listing vs. $131/sqft zip median — 60% below; thin data (7 comps) but directionally strong |
| Price vs. Market | 5% | 6 | $114,900 vs. $153,933 median — ~25% below zip median; active market with 77 sales |
| Market Conditions | 5% | 6 | 98.2% sale-to-list is balanced; 24.6% price drops is a mild buyer signal; DOM 32 days neutral |
At $53 a square foot, this is the kind of number that makes you look twice. The zip median runs $131. That gap is wide enough to matter whether you plan to live here or rent it out, and at 2184 square feet for under $115,000, you are getting a lot of house for the price regardless of what you do with it.
It is a 1956 ranch, single floor, three bedrooms, two full baths. The bedrooms have hardwood floors. The living room has a picture window up front. The kitchen has cabinet space. None of that is going to knock you over, but it is a functional layout with room to move, and the finished basement roughly doubles your usable living area. That lower level can absorb a lot: a home office, a rec room, a guest setup, storage with actual breathing room. In a house this size, the basement is not bonus space, it is part of the house.
Out back there is a covered patio, a carport, and a shed. The yard is there. That is about what the listing tells you.
Here is the honest part: condition is the question mark. The listing signals cosmetic work with language like "room to add your personal touches," and there are no dates on systems, no mention of the roof, the furnace, the water heater, nothing. Before you write an offer you want to know what those systems are doing, because at this price point the house can absorb a renovation budget and still come out ahead, but a failed furnace or a compromised roof changes the math fast.
What the price makes possible is straightforward. You could buy this, do the work over time, and end up with a large ranch in a live-in condition for well under what comparable finished homes are selling for in this zip. Or you could come in as an investor and run the numbers on rent. Either way, the price per square foot is doing the heavy lifting here, and that is a real advantage in a market where 77 homes sold recently and sale-to-list ratios are holding close to asking.
