>>53775928You can see just from the picture that it's in poor condition, but also property value is relative. Property in cities and suburbs is expensive because there's a scarcity of available land that's connected to critical infrastructure (ie running water, gas, electricity) and extending the supporting infrastructure is expensive.
As you move towards rural areas, property value plummets because there's an abundance of space and low demand for the property. Often the demand is negative as communities slowly lose population to urban migration or aging with no new kids to replace the elderly. Since rural communities tend to be small and spread out, there's little in the way of central infrastructure. If there's plumbing, it's connected to an underground septic well rather than central plumbing infrastructure. Otherwise you go in an outhouse and pump your own water up through a well pump. Your natural gas is a tank outside the house that you pay a utilities truck to come and refill twice a year, or there's just no natural gas at all because winters don't get cold enough for it, and you drive to the local utility store to pick up your own propane tanks and heat your house with a fireplace/hearth when it's cold.
Lacking central city infrastructure devalues property immensely, but it also adds a lot of hidden costs. You own your septic tank and incur all expenses related to inspecting and maintaining it, but the municipality are the ones who regulate it and decide if your tank needs a 10k repair job that requires a contractor with a backhoe to dig up your yard.
My grandfather grew up in a rural town and when he passed and we had to settle his estate, his well-maintained 8 acre lot and finished 3 storey house was worth less than his car
