Acreage, Historic
1940 Fixer on 4 In-Town Acres with Subdivision Potential — $54,900
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 | ~4 acres in-town, utilities in, paved road two sides, subdivision potential; house is small secondary asset |
| Condition | 25% | 4 | Described as fixer-upper; no system updates named; investor/flipper language present |
| Price / Sq Ft | 15% | 8 | Listing $78/sqft vs zip median $140/sqft (44% below); thin 5-comp data, directional signal strong |
| Price vs. Market | 5% | 9 | $54,900 vs $167,000 zip median — 67% below; lot-value context makes comparison valid |
| Market Conditions | 5% | 6 | Median DOM 203 days, price drops 31.3%, sale-to-list 99.4% — slow market, motivated sellers likely |
Four acres inside city limits is what stopped me here. Not the house — the house is small and needs work — but the land. Roughly four acres, paved road on two sides, utilities already in the ground, and a location on the east edge of Ordway with a tree line along one side that gives it a degree of separation from everything around it. The seller sketched out a 16-lot subdivision on paper, though nothing has gone through approval, so take that for what it is: a signal about what the parcel might be able to do, not a promise.
At $54,900, you are paying somewhere around $78 per square foot for the house, which is 44% below the zip code median. The house itself is 704 square feet, two bedrooms, one bath, built in 1940. It needs work. The listing uses flipper language and names no updates to any system, which tells you something. A full gut is a real possibility depending on what you find inside.
But the house is almost beside the point. New construction is going up on the north side of the property, which suggests the area is not stagnant. The utilities are in place not just for the existing structure but for additional development if you went that direction. Paved road on two sides means access is already solved.
What you could do with this depends on what you want. Park equipment and have space around you in town. Hold it. Build on part of it and sell the rest. The subdivision path would require going through the county approval process from scratch, so that is a longer play, not a quick flip. But the land cost at this price, with utilities in and roads already there, is a low entry point for someone willing to think past the existing structure.
The market in this area is slow. Median days on market runs over 200, and nearly a third of listings have taken price cuts. A patient buyer has leverage here that they would not have in a faster market.
