James Frakes is the investor who owns the property. He's selling the two-bedroom, one-bath home for just $199,000.
Appraiser Ryan Lundquist says the current median price for a home in the Sacramento region is $560,000, and less than 1% are going for under $200,000.
Frakes said this home has been vacant for about 20 years and needs a lot of work, including a water well, a septic tank, and structural repairs.
"He thought there was gold on the property, and he had excavated part of the dirt underneath the house and eventually the house just couldn't support itself anymore," Frakes said.
Frakes has produced renderings of what a modern rebuild could look like on the land, which sits on a hill with mature oak and pine trees. It's been on the market for just over two weeks, and he's already getting a lot of interest.
It could be a golden opportunity for the right buyer willing to take a risk on this foothill fixer.
The property has also racked up thousands of dollars in Placer County code enforcement fines, which will have to be paid off when the home is sold.
Read More Details
Finally We wish PressBee provided you with enough information of ( Auburn home going for under $200,000 in regional real-estate rarity )
Also on site :