Acreage, Garage, Lake Access
1960 Fixer with 2 Acres and a Wraparound Porch Near Lake Wilhelmina — $125,000
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 | 2 acres, wraparound porch, storage building, garage pad, lake/mountain proximity |
| Condition | 25% | 4 | Explicit fixer-upper language, no system dates, 1960 build — renovation required |
| Price / Sq Ft | 15% | 7 | Listing $118/sqft vs zip median $142/sqft — ~17% below; thin 3-comp data |
| Price vs. Market | 5% | 7 | $125K vs $199,913 median — ~37% below zip median |
| Market Conditions | 5% | 8 | DOM 102 days, sale-to-list 92.9%, 28.6% price drops — clear buyer's market |
Two acres of mostly cleared land three miles from Lake Wilhelmina, with a wraparound porch wrapping a 1960 house that needs real work. That's the whole picture, and at $125,000, it's a picture worth looking at hard.
The Ouachita Mountains sit right there. Lake Wilhelmina is close enough that you could make it a weekend habit. The land is open, which means you can use it rather than fight it. There's already a storage building on the property and a garage pad, so two of the things most people want to add eventually are already accounted for, at least in footprint.
The house itself is 1,058 square feet, two bedrooms, one bath, built in 1960. The agent called it a fixer-upper and that language is doing real work here. No system dates are listed, which means the roof, HVAC, electrical, and plumbing are all unknowns. A house from 1960 that hasn't had its systems documented is a house that needs a serious walk-through with a contractor before any number makes sense. Budget for surprises. Budget for more than that.
The wraparound porch is the one thing that's easy to picture working. It's a good feature on a house in this setting, and if the bones of it are sound, it's the kind of thing that makes the place livable while everything else gets sorted out.
At $118 per square foot, it's running about 17 percent below the zip code median and 37 percent below the Mena area median sale price. The listing has been sitting for 102 days and has seen price cuts, so there's room to negotiate further. This is a buyer's market and this property is priced like it.
What you're buying for $125,000 is two acres near a mountain lake, a porch, and a project. The project part is non-negotiable. Go in knowing that and the price makes a lot of sense. Go in hoping otherwise and it won't.
