Historic, Character Home, Garage, Lake Access, Finished Basement
1916 Schoolhouse on Half an Acre, Lake Adjacent — $139,999
7
out of 10
HousesUnder150K Score
Property Merit 50% · Condition 25% · Price/Sq Ft 15% · Market 10%
| Category | Wt. | Score | Detail |
|---|---|---|---|
| Property Merit | 50% | 8 | 1916 schoolhouse conversion, lake-adjacent, 4-seasons room, garage, basement, 0.48 acres |
| Condition | 25% | 8 | Roof 1yr, furnace 3yr, new electric — solid recent mechanicals, single family 60yrs |
| Price / Sq Ft | 15% | 6 | Listing $130/sqft vs zip median $134/sqft — essentially at median, thin data |
| Price vs. Market | 5% | 6 | At $140K vs $200K median — ~30% below zip median sale price |
| Market Conditions | 5% | 5 | DOM 27, sale-to-list 103.2% (competitive), 21.2% price drops — balanced/competitive |
This was a schoolhouse. Built in 1916, it sat on Route 21 in Wayland and at some point became a house, and then one family lived in it for over 60 years. That kind of history is embedded in a place whether or not anyone talks about it, and you can feel it in a building like this.
At 1,080 square feet across three bedrooms and one bath, it runs tight. The layout has a first-floor full bath, stacked washer and dryer on the same level, and what the listing calls three to possibly four bedrooms, which tells you there is some flexibility upstairs depending on how you use the space. The four-seasons room with a propane wall heater is the most interesting room in the house. That is a room with actual range, somewhere you can be in November and still feel like you are connected to the outside, which on a property adjacent to Loon Lake means something.
The mechanicals are in good shape. Roof replaced a year ago with new gutters. Propane forced-air furnace and ductwork about three years old. New 100-amp electric service. These are not small items to have already done, and having all three recent at once means you are walking into something that has been attended to, not deferred.
The two-car attached garage has a concrete floor and an electric door. The basement has high ceilings and its own exterior exit. The lot is flat, nearly half an acre, which gives you actual yard to use rather than a slope you mow around.
The rough part is the size. 1,080 square feet is what it is. The schoolhouse bones make the place interesting, but they do not make it bigger, and if you need room to spread out, this will feel like a project in compression. The one bathroom limits things further.
At $140,000 next to a lake, with recent work done and a building that has a real story behind it, you are getting more context for the price than most listings in this range can offer.
