Hidden Gem, Lake Access
1974 Wakefield Ranch with Adjacent Vacant Lot, Steps from Milford Lake — $85,000
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 | Two-lot package, 1440 sqft single-level, lake proximity, Fort Riley demand base |
| Condition | 25% | 5 | Maintenance-free siding/windows noted; roof, HVAC ages unknown; "make improvements" language |
| Price / Sq Ft | 15% | 9 | Listing $59/sqft vs zip median $100/sqft — 41% below; 4 comps, thin but directional |
| Price vs. Market | 5% | 9 | $85K vs zip median $209,809 — 59% below; thin market, 3 sales last month |
| Market Conditions | 5% | 6 | 65-day median DOM, 97% sale-to-list, 19.8% price drops — mild buyer advantage |
The price is what stops you. At $85,000, this is listed at 59% below the zip code median, and at $59 per square foot when comparable sales in the area are running around $100. That gap is wide enough to matter regardless of what condition turns out to be hiding behind the listing photos.
What you get is a single-level, 1,440-square-foot, two-bed, two-bath ranch on Birch Street in Wakefield, Kansas, built in 1974. The layout puts everything on one floor — living room, dining room, bedrooms, baths, laundry — which is genuinely useful if you have kids, older parents, or just want a house where you are not hauling anything up stairs. The agent notes maintenance-free siding and windows, which at least means two exterior line items you are probably not writing checks for right away.
The bigger thing is the lot situation. The sale includes a full adjacent vacant lot at 600 Birch Street. Two lots for $85,000, near a lake. You could build there, hold it, or simply enjoy having a buffer on one side. That extra land adds real flexibility and some resale protection that a single-lot listing at this price would not have.
Milford Lake is close, which in this part of Kansas means water access and a draw for people who want that. Fort Riley is also nearby, which keeps a steady population of people looking for housing in the area. Both of those things matter for resale or rental if you end up going that direction.
The honest caveat is that the condition is uncertain. The roof and HVAC ages are unknown. The listing language includes "make improvements," which means plan to spend money after closing and budget accordingly before you make an offer. Get the inspection done and price out what you find.
But at $85,000 with two lots and a straightforward single-level floor plan, the math gives you room to absorb those costs and still come out well ahead of what this area typically trades at.
