Acreage, Farmhouse, Historic, Character Home
1916 Wabash County Farmhouse on 2 Acres, Sold As-Is — $140,000
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 | 1916 farmhouse, 2 acres, hardwood floors, breezeway, den/office potential, rural setting |
| Condition | 25% | 6 | As-is with documented furnace (2yr), roof (8yr), well (4yr); still needs renovations |
| Price / Sq Ft | 15% | 5 | Listing $125/sqft vs zip median $101/sqft — listed above median; thin data (7 comps) |
| Price vs. Market | 5% | 8 | $140K vs zip median $237,930 — approximately 41% below zip median |
| Market Conditions | 5% | 6 | DOM 43 days, sale-to-list 96.7%, price drops 30.2% — mild buyer's advantage |
The price is 41% below the zip median, which is the first thing worth sitting with. North Manchester zip codes are showing a median around $238,000. This one is at $140,000. The gap exists because the house needs work and is being sold as-is, but the two acres and the bones of a 1916 farmhouse are still there regardless of what renovations cost.
The house is 1,124 square feet with two bedrooms and one bath. Small by most family standards, but the layout gives you more to work with than the bedroom count suggests. There is a front entry room large enough to use as a den or office, a living room, a separate dining or family room, and a kitchen. For a farmhouse from 1916, that is a practical floor plan. The original hardwood floors run throughout, and they are still there after more than a hundred years, which tells you something about the build quality even if it does not tell you much about current condition.
Off the kitchen there is a breezeway. It functions as a second entrance and gives you covered space between the house and whatever is outside, which on a working farm property is genuinely useful for storing muddy boots, gear, or tools without bringing any of it inside.
The mechanicals have been touched recently enough to matter. Furnace is two years old. Well was replaced four years ago. Roof is eight years old. None of those are emergency items, which means renovation money can go toward the house rather than the systems underneath it.
The two acres sit surrounded by farm ground along State Road 114. If you want space between you and your neighbors, you have it. If you want a project property in a rural setting where the land itself has value, this is a straightforward case for it. The price per square foot runs above the zip median at $125 versus $101, and the as-is condition is real, not a technicality.
What $140,000 gets you here is two acres in Wabash County, a farmhouse old enough to have genuine character, and enough documented recent work that you are starting the renovation from a stable foundation rather than a failing one.
