Hidden Gem, Fireplace, Income Potential, Historic, Lake Access
1947 North Canaan Cape with Fireplace and Upper Suite — $149,900
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 | 1736 sqft Cape, fireplace, upper kitchenette, flexible 4th bed, desirable NW CT corridor |
| Condition | 25% | 4 | Sold as-is, no system dates, renovation required; investor language present but owner-occupant viable |
| Price / Sq Ft | 15% | 9 | Listing $86/sqft vs zip median $223/sqft — 61% below median; thin 7-comp dataset but strong signal |
| Price vs. Market | 5% | 8 | $149,900 vs $256,750 zip median — 42% below; thin market, directional only |
| Market Conditions | 5% | 6 | 28.6% price drops and 95.1% sale-to-list signal mild buyer advantage; DOM 45 days vs 8 here |
At $86 a square foot, this is roughly 61% below the zip code median price per square foot. That gap is wide enough to stop and think about. You are looking at a 1,736-square-foot Cape in northwest Connecticut, walkable to the town center, 20 minutes from Great Barrington, in a corridor where people pay a lot to be. And this one is $149,900.
The house is a 1947 Cape with three bedrooms, two full baths, a fireplace in the living room, and a formal dining room on the main level. Two bedrooms and a full bath are also on the main floor, which matters for how you can actually use the space. Upstairs is where it gets more interesting: there is a third bedroom, a den, a possible fourth bedroom, a second full bath, and a kitchenette. That upper level is basically a self-contained suite. For an in-law situation, a long-term guest, or an Airbnb on a road that sits between the Berkshires and Litchfield County, that layout has real utility. People drive through this part of Connecticut specifically to be here, and the demand for short-term rentals in northwest Connecticut is not imaginary.
The yard is large and level. Room to garden, room for kids, room to do something with the outside eventually.
Now the plain part: this is sold as-is. No information on when the systems were last updated, which means the renovation budget is an unknown until someone gets inside and looks hard. The condition score reflects that. This house needs work, and the price reflects that too. How much work is the question you need to answer before you commit.
But the price is what makes it worth asking. At $149,900, a significant renovation still keeps you well below what comparable properties in this market are trading at. The upper suite is already a layout you cannot build cheaply. The fireplace, the location, the square footage, the yard, the access to the Berkshires and the Housatonic, these are real things at a price that leaves room to make the place your own.
