- A four-bedroom, two-bathroom home in Syracuse, New York, is on the market for a lowly $4,000.
- But the house comes with water damage and will require “major renovation,” according to the listing.
- A potential buyer will need to show proof of $140,000 in funds to support renovations.
A two-story home with a wrap-around front porch in Syracuse, New York, is for sale for a little bit less than the median monthly rent in New York City.
Listed for a mere $4,000, the 128-year-old yellow home is located a 5-minute drive from the Syracuse University campus. Split into two apartments, the Victorian-style house contains four bedrooms and two bathrooms, with the potential for an additional bedroom to be added on, according to the listing.
But, a buyer will need more than just a few thousand in the bank to get the keys.
The Greater Syracuse Land Bank, which owns the property, is requiring prospective buyer to show proof of funds of at least $140,000 to cover renovations.
Advertised with water damage and photos of paint-chipped rooms alongside a lead disclosure form, the home will “require major renovation” estimated to be at least $136,000, according to the listing.
Applications for the property were accepted until 5:00 p.m. Eastern Time on Tuesday, May 2, 2023.
The future owner will be responsible for getting the house up to code within 12 months.
Built in 1894, the house is as old as the first Coca-Cola bottles and the American painter Norman Rockwell.
The Instagram account @syracusehistory notes that the home once belonged to Arthur Grummons, a local gas station owner and World War II veteran.
For those undeterred by the prospect of a major project, the Land Bank has several listings throughout the Syracuse region requiring similar renovations and proof of funds, including a 133-year-old home listed for $15,000 and a two-bedroom home seeking $1,000.