Renovated, Income Potential, Acreage, New Roof
1960 Milan Ranch, Gut-Renovated in 2026, 1.43 Acres — $149,900
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 | 1.43 acres, acreage floor qualifier met; concrete slab, arched porch, open concept |
| Condition | 25% | 9 | Full 2026 renovation; permitted new plumbing, electrical, roof, mini-split, tankless water heater |
| Price / Sq Ft | 15% | 5 | Listing $160/sqft vs zip median $138/sqft — listing runs ~16% above median (thin, 5 comps) |
| Price vs. Market | 5% | 6 | $149,900 vs zip median $224,934 — approximately 33% below zip median |
| Market Conditions | 5% | 6 | DOM 36 days balanced; sale-to-list 96.6%; price drops 24.7% — mild buyer advantage |
The thing that stops you here is the renovation scope. This place was taken down to studs in 2026 and put back together with permitted new plumbing, new electrical, a new roof, a mini-split for heat and air, and a tankless water heater. That is a complete redo, not a cosmetic refresh. New sheetrock, luxury vinyl plank throughout, new cabinetry, new interior doors and trim. The stainless range and overhead microwave are new. The bathroom has a tub/shower combo with a laundry nook tucked in. For a 936-square-foot house built in 1960, there is essentially nothing left from the original that you would need to worry about near-term.
The floor plan is small and open, with the great room and kitchen running together. Two bedrooms, one bath. At 936 square feet, you know what you are getting: enough room for one person or a couple, or a small family that does not need a lot of separation. The arched covered front porch is a genuine feature, wide enough to sit on and actually use.
What you get beyond the house is 1.43 acres outside Milan city limits, which means no city taxes. There is an existing concrete slab on the property, sized and positioned for a future workshop or outbuilding. Public water, natural gas, and fiber internet are all available. The no-state-income-tax piece is a Tennessee-wide fact, but it stacks with the low property tax situation here in a way that matters if you are budgeting.
The honest friction: at $160 per square foot, this runs about 16% above the zip code median for price per square foot. The market here is thin, only five comparable sales, so that number carries uncertainty in both directions. The house is priced well below the zip median in absolute terms, which reflects the size more than anything else.
What the price makes possible is straightforward: a fully renovated house on acreage in Gibson County with no deferred maintenance and room to build out the land on your own timeline.
