Finding an affordable home in today’s real estate market is tough, but finding one that comes with a massive, fully equipped workshop and scenic views for under $50,000? That is almost unheard of.
Welcome to the latest unbelievable property find on Epathgo Today, we are looking at a historic 1900-built home in Chariton, Iowa. What makes this property so special isn’t just the house itself—it is the jaw-dropping price history and the incredible detached workspace that comes with it. Currently listed for just $45,000, this property is catching the eyes of mechanics, hobbyists, and savvy investors nationwide.
Property Highlights at a Glance
| Feature | Details |
|---|---|
| Listing Price | $45,000 ($44/sqft) |
| Location | 215 S Main St, Chariton, IA 50272 |
| Living Area | 1,032 Sq. Ft. |
| Bedrooms / Bathrooms | 2 Beds |
| Lot Size | 0.38 Acres |
| Special Feature | 4-Car Detached Workshop (Plumbed & Heated) |
| Annual Taxes | $590 |
The Star of the Show: The Ultimate Detached Workshop
Let’s start with the biggest selling point of this property. Behind the main house sits a massive, oversized detached workshop offering space for up to 4 vehicles.
But this isn’t just a simple metal garage. This building is fully equipped with its own plumbing and heating systems. Whether you are a car enthusiast looking for a place to wrench year-round, an entrepreneur needing space for a home-based business, or a hobbyist dreaming of the ultimate man-cave, this workshop alone is worth the asking price.
Inside the 1900 Ranch Home
The main residence is a classic single-story ranch home offering 1,032 square feet of interior living space. Inside, you will find a bright and functional layout featuring beautiful wood-style flooring throughout.
The kitchen is surprisingly spacious for a home of this era, featuring crisp white cabinetry, a double sink, and a black gas range stove. The home offers 2 bedrooms and an incredibly rare 4 bathrooms (3 full, one 3/4 bath), offering plenty of convenience for residents or potential renters. While it is a “Real Estate Owned” (REO) property that may need a little cosmetic updating, the bones and existing finishes offer a fantastic head start.
A Backyard with a View
Despite being close to town, the 0.38-acre lot gives you a wonderful slice of country living. Step out into the backyard, past the giant mature shade trees, and you are greeted with a beautiful, serene view of open fields and a neighboring pond. It’s the perfect place to relax after spending the day working in your shop.
The Financials: A Mind-Blowing Price Drop
If you want to know why investors are rushing to look at this property, you just have to look at its public price history.
In June of 2022, this exact property was sold for $155,000. Today, just four years later, it is listed on the market for $45,000. That is a staggering 71% price drop! At just $44 per square foot, the value here is undeniable.
Furthermore, the holding costs are incredibly low. The property utilizes natural gas and forced air heating, rural water, and a septic system. The total annual property taxes for the entire 0.38-acre estate are just $590 a year. With a Zillow estimated rent of $949 per month, this property has the potential to be an incredible cash-flowing rental or a highly profitable flip for the right buyer.
What are your thoughts on this Iowa property? Would you buy it just for the amazing heated workshop? Let us know in the comments below!
Listed on Zillow