Renovated, Finished Basement, Historic
1948 Salina Home, All Major Systems Updated, Full Basement — $145,000
7
out of 10
HousesUnder150K Score
Property Merit 50% · Condition 25% · Price/Sq Ft 15% · Market 10%
| Category | Wt. | Score | Detail |
|---|---|---|---|
| Property Merit | 50% | 7 | 1948 build, hardwood floors, full basement with half bath, fenced yard |
| Condition | 25% | 8 | Move-in ready; roof, HVAC, water heater, electrical, and paint all updated |
| Price / Sq Ft | 15% | 5 | Listing at $120/sqft; zip median PSF unavailable — neutral score applied |
| Price vs. Market | 5% | 6 | $145K vs $211,908 zip median — approximately 32% below median |
| Market Conditions | 5% | 5 | DOM 17 days, sale-to-list 100%, price drops 27.7% — balanced/floor applied |
The price is the first thing to sit with. At $145,000, this house is roughly 32% below the zip code median. That gap is big enough that it changes what the math looks like for a first buyer or anyone moving from a higher-cost market.
What you get for that number is a 1948, 1,208-square-foot house on East Cloud Street with three bedrooms, refinished hardwood floors, and a full basement. The hardwood alone would be a selling point. The fact that the floors are already refinished means you walk in and use the house rather than budget for a project.
The more interesting story is in the mechanicals. Roof, HVAC, water heater, and electrical have all been updated, and the interior and exterior have been freshly painted. That is a lot of the expensive and unpleasant work done for you. With older houses, the fear is always what you cannot see, and here the sellers have addressed most of the big line items upfront. You are buying a 1948 house, so some things will show their age, but the major systems are current.
The basement is worth thinking about. It already has a half bath roughed in, which means the plumbing infrastructure exists. Finishing that space would add meaningful square footage to a house that is, at 1,208 feet above grade, on the smaller side for three bedrooms. Whether that's a family room, a home office, or somewhere for a teenager to exist independently, the bones of that project are in place.
The backyard is fully fenced. That matters for dogs, kids, or just wanting to be outside without being visible from the street.
The one honest note: $120 per square foot is not a bargain price for a house this size in this market, even 32% below median. You are paying for the updates, and they are real. But if you were hoping to buy low and flip, the margin is thin. If you are buying a house to live in, it is a straightforward, updated, move-in-ready home at a price that leaves you room to breathe.
