In the current real estate market, properties that boast large acreages for under $100,000 are incredibly hard to come by. They instantly grab the attention of house flippers, homesteaders, and outdoorsmen looking for private hunting grounds.
Currently listed at $95,000, the single-family residence at 6728 Straight Holw, McVeigh, KY 41555 presents an intriguing package: a 1,174-square-foot home built in 1985 tucked onto approximately 21 acres of mountain terrain.
However, this property is explicitly marketed as an “Investor Special” and is being sold strictly “as-is”. Even more critically, the listing reveals a highly complex legal requirement: Third Party Approval is required to close the deal.
Let’s perform a deep-dive analysis of this Kentucky mountain listing to evaluate its infrastructure, decode the financial realities of the asking price, point out the major drawbacks, highlight the hidden advantages, and deliver a definitive verdict on whether you should buy this property.
Property Specifications & Structural Breakdown
Before looking at the condition of the home, let’s analyze the raw data and structural metrics provided in the listing:
- Listing Price: $95,000
- Property Address: 6728 Straight Holw, McVeigh, KY 41555
- Total Lot Size: ~21 Acres (Rural, Mountain views)
- Livable Footprint: 1,174 Square Feet (2 Levels)
- Bedrooms / Bathrooms: 4 Bedrooms / 1 Bathroom
- Year Built: 1985
- Exterior Siding: Wood Siding
- Utilities: Septic Tank, Public Water, and Well Water
- Special Conditions: Third Party Approval Required (Short Sale / Estate)
- Annual Property Taxes: $96 (Incredibly low 2024 tax rate)
The Pros: Why This Mountain Acreage Holds Value
While the home itself is heavily distressed, real estate investors know that true equity is often forced by buying cheap land with pre-existing utility connections.
1. Immense Acreage for Under $100K
The primary driver of value for this listing is the land. Acquiring 21 acres of private, wooded mountain terrain for $95,000 breaks down to roughly $4,523 per acre—and that includes a standing house framework. For buyers interested in hunting, riding ATVs, or creating a deeply secluded off-grid homestead, this parcel offers an excellent footprint. Furthermore, the listing notes horses can be raised here, opening doors for basic hobby farming.
2. Pre-Existing Utilities are Already Installed
Clearing raw mountain land and installing a driveway, a private septic system, and bringing in water infrastructure can easily cost between $30,000 and $50,000 before you ever lay a home foundation. This property eliminates those upfront capital hurdles. It features a septic tank, public water hookups, and a private well on-site. The vintage stone-lined well can be seen preserved on the grounds in
3. Bonus Outbuildings (Barn & Workshop)
In addition to the house, the 21-acre tract features a detached barn and a workshop. Constructing outbuildings of this caliber today would cost a new owner thousands of dollars in lumber and labor. These spaces provide immediate value for storing ATVs, construction tools, or housing livestock while you remodel the primary structure.
4. Practically Non-Existent Carrying Costs
The property taxes for 2024 sat at an astonishingly low $96 for the entire year. This means your holding costs are virtually zero. If it takes you twelve to eighteen months to slowly renovate the home using your own weekend labor, you will not be bled dry by city or county tax burdens.
The Cons: The Reality of a Severe Gut Rehab
A house priced at $81 per square foot with 21 acres attached means the structure is in highly distressed condition. Buyers must prepare for a total gut rehabilitation.
1. Severe Trash-Out and Cosmetic Disaster
The interior of the home has been completely neglected and requires an intense clean-out before construction can even begin.
The main living room, visible in
features heavily stained, old red carpeting, a basic unpainted wooden staircase, and trash strewn about.
The kitchen and main living spaces, captured in
are filled with loose debris, black garbage bags, peeling wall paneling, and an outdated drop-ceiling grid with missing panels.
One of the upstairs bedrooms, shown in
features a child’s bed frame surrounded by a floor covered in loose plastic bottles and trash. Large chunks of the drywall have been entirely smashed or peeled away from the studs, exposing structural cavities.
2. High-Risk Terrain & Erosion Concerns
Looking closely at the exterior profile of the home in
the house sits directly adjacent to a steep dirt bank that drops off into a rocky creek bed. The soil along this bank shows severe signs of exposed roots and unreinforced dirt, meaning soil erosion is an active threat to the foundation platforms. A buyer will likely need to budget for heavy excavation equipment to build a reinforced stone or concrete retaining wall to protect the yard and the house structures from sliding into the creek over time.
3. Logistical Nightmares of “Third Party Approval”
The listing details contain a major warning under special conditions: Third Party Approval is required. This indicates that the property is either a short sale (where the bank must agree to take a financial loss) or tied up in a complex estate/bankruptcy court.
- The Catch: When a property requires third-party approval, closing can take anywhere from three months to over a year. The bank can reject your offer at any time, even after you have spent money on home inspections. You cannot buy this property if you are on a tight timeline.
4. Poor Bedroom-to-Bathroom Ratio
The house squeezes 4 bedrooms into just 1,174 square feet, leaving only 1 full bathroom for the entire structure. Squeezing a family or large hunting party into a home with a single bathroom creates immediate logistical friction. Rerouting plumbing through a house that lacks a basement to add a second half-bath will be a highly challenging and costly endeavor.
Price History & Market Value Analysis
To understand if $95,000 is a fair price, we must analyze the county tax assessment data:
- Tax Assessed Value: The county values the entire asset at just $36,500.
- The Markup: The listing price of $95,000 is 2.6 times higher than what the local tax assessor believes the property is worth.
However, automated county records do not factor in the surging demand for large, off-grid recreational parcels. Raw land of this scale (21 acres) with existing septic systems, power poles, outbuildings, and public water hookups holds an intrinsic value of roughly $60,000 to $70,000 in the Appalachian region. This leaves the valuation of the physical house at around $25,000, which is perfectly reasonable for a standing, weathered shell.
Final Verdict: Should You Buy This Property?
The definitive answer is: Yes, but only if you are a cash buyer who treats this primarily as a land investment rather than a quick house flip.
Who should WALK AWAY:
If you are a traditional homebuyer looking for a cheap home to move into with a standard FHA, VA, or conventional mortgage, run away from this property. The home’s current state featuring smashed drywall, missing ceilings, and no centralized HVAC makes it completely ineligible for traditional bank financing. Furthermore, if you don’t have the patience to deal with months of “Third Party Approval” delays, steer clear.
Who should BUY THIS:
If you are an avid hunter looking for a private basecamp, a prepper wanting 21 acres of secluded mountain terrain, or a seasoned cash contractor who can complete a total gut rehab using your own manual labor, this is an exceptional deal. You are essentially buying 21 acres of gorgeous mountain terrain with utilities already connected, and receiving a salvageable cabin shell and a barn for free.
Listed on Zillow