Historic, Character Home
1905 Louisville Brick on 0.7 Acres, New PEX and Wiring Done — $59,000
7
out of 10
HousesUnder150K Score
Property Merit 50% · Condition 25% · Price/Sq Ft 15% · Market 10%
| Category | Wt. | Score | Detail |
|---|---|---|---|
| Property Merit | 50% | 9 | 1905 historic, 3683 sqft, 4/3, 0.7 acres, brick, metal roof — all floor qualifiers met |
| Condition | 25% | 6 | Core systems updated (PEX, electrical, metal roof); cosmetic finish work remains; sold vacant |
| Price / Sq Ft | 15% | 10 | Listing $16/sqft vs zip median $82/sqft — 80% below; 1 comp, treat directionally |
| Price vs. Market | 5% | 9 | $59K vs $169,900 zip median — 65% below median; thin market (1 sale) |
| Market Conditions | 5% | 5 | DOM 3 days and 100.5% sale-to-list is competitive, but 66.7% price drops offset; floor 5 |
At $16 a square foot, this house costs less per foot than most people spend on flooring. The zip median runs around $82 per square foot. That gap is the whole story here, and it is a wide one.
The house is big. 3,683 square feet of it, built in 1905, brick, on 0.7 acres with city water and sewer. Four bedrooms, three full baths. The kind of scale that would cost you real money to buy anywhere near move-in condition, and this one is priced the way it is because it still needs work on the finish side.
What is already done matters. New PEX plumbing throughout. Updated wiring and new panel boxes. A metal roof that the listing calls leak-free. These are the things that kill renovation budgets when they come up mid-project. On a house this old, having those systems addressed before you start means you are working on your own timeline, not in emergency mode. Pier and beam foundation, brick exterior. The bones are old and they are solid.
The condition score is where the honesty lives. Core systems are sorted, but cosmetic finish work remains. The listing says vacant. That means no one has been maintaining it day to day, and a 120-year-old house sitting empty has a way of accumulating small problems that become medium ones. You would want to walk every room carefully and budget for what you find. This is a project, and the price reflects it.
For someone who can swing a hammer or manage a contractor, though, 3,683 square feet in a brick 1905 house for $59,000 is a lot of room to work with. A family that needs space and can handle a project in stages could buy this and live in it while they work through it. An investor looking at a rental play gets a big footprint at a price that leaves room to spend real money on finishes and still come out ahead of what comparable finished homes sell for here.
The market in this zip is thin, one comp, so take the numbers as directional. But $59,000 for this much house with the hard work already done underground and overhead is worth looking at straight.
