Affordable 3-Bedroom Bungalow With Renovation Potential on 0.41 Acres

A Promising Project in a Peaceful Rural Setting

Finding an affordable property that combines a larger-than-average residential lot, a practical single-level floor plan, city utilities, and convenient access to local amenities can be difficult. For buyers who enjoy renovation projects or investors searching for their next opportunity, this three-bedroom bungalow in the New Castle area offers plenty to consider.

The property sits on approximately 0.41 acres, providing considerably more outdoor space than many traditional residential lots. The level parcel is situated in a peaceful setting while still benefiting from city water and city sewer, natural gas, electricity, and other available utilities.

The one-level home contains approximately 912 square feet of living space and includes three bedrooms, one full bathroom, a kitchen, living room, and covered front porch. The property is described as a project, making it particularly interesting for buyers who are comfortable evaluating an older home and planning improvements.

The location also provides practical advantages. The property is situated just minutes from State Road 103, Henry Community Health, and access to the Wilbur Wright Trail, creating a balance between a quieter residential atmosphere and access to everyday services and outdoor recreation.

The seller is also offering seller financing, which may create an additional purchasing option for qualified buyers. Financing terms and availability should be verified directly with the seller.

Property Highlights at a Glance

Key features include:

• Three bedrooms
• One full bathroom
• Approximately 912 square feet
• One-level living
• Bungalow architectural style
• Approximately 0.41 acres
• Level lot
• Peaceful rural setting
• City water
• City sewer
• Natural gas
• Forced-air heating
• Covered front porch
• Eat-in kitchen
• Main-level laundry connections
• Refrigerator
• Gas range/oven hookup
• Ceiling fans
• Laminate countertops
• Tub/shower combination
• Carpet and laminate flooring
• Crawl-space foundation
• Aluminum siding
• Shingle roof
• No HOA listed
• Built in 1940
• Cable availability
• Seller financing available according to the listing
• Convenient access to State Road 103
• Near Henry Community Health
• Near Wilbur Wright Trail access

These characteristics make the property worth considering for homeowners, contractors, first-time buyers, and real estate investors looking for a renovation project.

An Opportunity for Buyers With Vision

The property is best viewed as a project rather than a turnkey home.

That distinction can be important for buyers because properties requiring improvements can offer more flexibility in how the final home looks and functions.

Instead of inheriting someone else’s renovation choices, a buyer can evaluate the structure and systems and then develop a plan based on personal preferences and budget.

For an owner-occupant, this could mean gradually transforming the house into a comfortable personalized residence.

For an investor, the property may be worth evaluating as a potential flip or rental, depending on acquisition cost, renovation expenses, comparable properties, and local market demand.

Approximately 0.41 Acres of Land

The property sits on approximately 0.41 acres.

A parcel of this size provides a meaningful amount of outdoor space for a single-family home.

The listing describes the lot as level, which can be a practical advantage for landscaping, outdoor recreation, gardening, and other permitted uses.

The yard could potentially accommodate seating areas, gardens, play space, storage solutions, or landscaping improvements.

Any future structures, additions, fences, or other improvements should be reviewed against local zoning and setback requirements.

Peaceful Setting With City Utilities

One of the most interesting characteristics of this property is the combination of a rural feel and municipal services.

The home has city water and city sewer, which can make ownership more straightforward than properties that depend on private wells and septic systems.

Natural gas and electricity are also available.

For buyers searching for a country-style setting, access to city utilities can provide an appealing middle ground.

You can enjoy a quieter environment while maintaining access to established infrastructure.

Convenient New Castle Area Location

The property is located in the New Castle area, providing access to local services and transportation routes.

The listing highlights proximity to State Road 103, Henry Community Health, and the Wilbur Wright Trail access point.

For residents, proximity to major local roads can simplify commuting and everyday errands.

Access to a nearby health facility can also be useful for households that value convenient access to healthcare services.

Meanwhile, the trail access adds an outdoor recreation component to the location.

Prospective buyers should independently verify travel times, routes, nearby businesses, transportation options, and current services.

Single-Level Bungalow Design

The home is classified as a single-family bungalow with one level.

Single-level living can be attractive to a wide variety of buyers.

There are no stairs between the primary living areas and bedrooms, making the layout practical for households that prefer accessible daily living.

The property includes three bedrooms, all identified on the main level.

This can make the home appealing to small families, first-time buyers, downsizers, or investors targeting single-level rental housing.

Three Main-Level Bedrooms

The home provides three bedrooms.

Having all three bedrooms on the main level creates a straightforward floor plan.

The bedrooms can accommodate traditional sleeping arrangements, while one could potentially be used as a home office, guest room, hobby space, or study depending on the owner’s needs.

For investors, three-bedroom properties can serve a broad segment of the rental market.

However, rental demand and achievable rent should always be verified through current local market research.

Practical Living Room

The living room measures approximately 12 by 10 feet.

Although compact, the room provides a dedicated space for relaxing and everyday activities.

A thoughtful furniture arrangement can maximize the usable area.

During a renovation, buyers may choose to update flooring, paint, lighting, trim, or other finishes to create a more modern appearance.

The existing layout provides a practical foundation that can be adapted without necessarily requiring major changes to the floor plan.

Eat-In Kitchen

The kitchen measures approximately 14 by 12 feet and features an eat-in design.

This is one of the more substantial spaces in the home.

An eat-in kitchen provides room for both meal preparation and casual dining.

The listing identifies laminate countertops, a refrigerator, and a gas range/oven hookup.

The kitchen could potentially become one of the home’s most useful gathering areas after appropriate updates.

Renovation possibilities may include cabinets, countertops, backsplash, lighting, flooring, fixtures, and appliances.

Before beginning any remodeling, buyers should inspect the plumbing, electrical system, gas connections, cabinets, and existing appliances.

Main-Level Laundry

Laundry connections are located on the main level.

Main-level laundry can be a valuable convenience because homeowners do not have to carry clothes between floors.

The listing indicates a washer hookup.

Buyers should verify the current condition of the plumbing, drainage, electrical or gas connections, ventilation, and surrounding flooring.

One Full Bathroom

The property has one full bathroom featuring a tub/shower combination.

A single bathroom can be practical for a smaller household, although larger households may eventually want additional bathroom capacity.

The bathroom could also provide an opportunity for renovation.

Potential updates could include modern fixtures, new flooring, lighting, storage, paint, and other finishes.

The plumbing system should be evaluated before making renovation decisions.

Natural Gas and Forced-Air Heating

The home uses natural gas and forced-air heating.

Natural gas can provide an efficient heating source, but the condition and age of the furnace should be verified.

A professional HVAC inspection can help determine the current operating condition and potential future maintenance needs.

Buyers should also investigate typical utility costs before purchasing.

No Listed Central Air Conditioning

The listing does not identify central air conditioning.

Cooling information is not listed, while ceiling fans are among the interior features.

For buyers accustomed to central cooling, this is an important consideration.

Depending on the home’s electrical capacity and local climate, a future owner could investigate cooling options appropriate for the property.

Potential choices may include window units, ductless systems, or another suitable solution.

Any installation should be evaluated by a qualified professional.

Covered Front Porch

The home includes a covered front porch.

Porches can add both character and practical outdoor living space.

A covered porch provides a sheltered place to sit, relax, enjoy a morning coffee, or welcome visitors.

For an older bungalow built in 1940, the porch can also complement the traditional architectural character.

The porch should be inspected for structural condition, railings, steps, roofing, drainage, and signs of deterioration.

Crawl-Space Foundation

The property has a crawl-space foundation.

Crawl spaces should be inspected carefully for moisture, ventilation, insulation, plumbing leaks, pest activity, and structural concerns.

A professional inspection can provide a clearer picture of the condition of the foundation and the systems located beneath the home.

Aluminum Siding and Shingle Roof

The exterior features aluminum siding, while the roof is listed as shingle.

The siding should be inspected for dents, corrosion, loose sections, and water intrusion.

The roof should also be professionally evaluated, particularly given the home’s age.

Roof condition can have a significant impact on long-term ownership costs.

Potential Renovation Projects

Because this property is positioned as a project, buyers may want to create a renovation plan before closing.

Potential projects could include:

Interior Paint

Fresh paint can provide an immediate visual improvement and help establish a consistent design throughout the home.

Flooring

The property currently includes carpet and laminate flooring. Depending on condition, flooring could be repaired, refinished, or replaced.

Kitchen Updates

The kitchen could potentially be modernized through improvements to cabinets, countertops, lighting, fixtures, and appliances.

Bathroom Improvements

The bathroom could receive cosmetic updates or more extensive remodeling depending on its current condition.

Exterior Improvements

Landscaping, porch improvements, siding maintenance, and exterior lighting could improve curb appeal.

Energy Improvements

Depending on the home’s current systems, buyers could investigate insulation, windows, HVAC efficiency, and other energy-related upgrades.

All improvements should be based on professional evaluations and local permitting requirements.

Potential Fix-and-Flip Opportunity

Real estate investors often search for properties where improvements can potentially create additional value.

This home could be evaluated as a fix-and-flip project, but profitability depends on the numbers.

An investor should calculate the total acquisition cost, estimated renovation expenses, holding costs, financing, taxes, insurance, selling costs, and expected resale value.

Comparable sales should be researched carefully.

The presence of three bedrooms, one bathroom, a relatively large lot, city utilities, and a single-level layout could be relevant when comparing the property with other homes in the area.

However, no profit should be assumed without a detailed market analysis.

Potential Rental Investment

The property could also be considered for a long-term rental strategy.

Three-bedroom homes may appeal to families, roommates, or other households seeking more space than an apartment.

The approximately 0.41-acre lot could also provide additional appeal for tenants who value outdoor space.

An investor should research current rental rates for comparable three-bedroom homes in the New Castle area.

Expenses such as repairs, vacancy, property management, taxes, insurance, utilities, and capital expenditures should all be included in the analysis.

Seller Financing Opportunity

The listing states that seller financing is available.

This may be particularly interesting for buyers who are exploring alternatives to traditional mortgage financing.

However, seller financing terms can vary considerably.

Potential buyers should verify the interest rate, down payment, term, monthly payment, collateral requirements, balloon provisions, closing costs, and other terms before making financial decisions.

Professional legal and financial advice may be appropriate when reviewing a seller-financing agreement.

Why the Location Matters

Real estate value is influenced by more than the house itself.

The surrounding location can affect convenience, rental demand, resale potential, and long-term ownership experience.

This property offers access to State Road 103 and is located near Henry Community Health and the Wilbur Wright Trail.

That combination provides a useful mix of transportation, services, and recreation.

At the same time, the property maintains a quieter residential setting.

This balance between convenience and privacy may appeal to buyers who do not want to live directly in a busy commercial area.

Outdoor Recreation and Trail Access

The proximity to the Wilbur Wright Trail access point may appeal to people who enjoy walking, cycling, exercise, or spending time outdoors.

Having recreation opportunities nearby can enhance the lifestyle appeal of a residential property.

The home’s approximately 0.41-acre lot also provides private outdoor space for activities at home.

Buyers should verify the exact trail access point and current conditions.

A Property for the Right Buyer

This home will not necessarily be ideal for every buyer.

Someone looking for a completely renovated property may prefer a turnkey home.

But a buyer who enjoys renovation projects may see the opportunity differently.

The property provides the basic framework of a three-bedroom bungalow with municipal utilities and a larger residential lot.

With the right improvements, the home could potentially become a comfortable primary residence, rental property, or investment project.

Due Diligence Before Purchase

Because this is a renovation opportunity, due diligence is particularly important.

Prospective buyers should consider a professional inspection covering:

• Foundation
• Crawl space
• Roof
• Siding
• Plumbing
• Electrical system
• Natural gas system
• Furnace
• Cooling options
• Kitchen
• Bathroom
• Flooring
• Windows
• Porch
• Drainage
• Lot conditions

Buyers should also verify property boundaries, zoning, utility connections, taxes, permits, and any restrictions that could affect future improvements.

Building Sweat Equity

One of the most attractive aspects of a project property is the possibility of building sweat equity.

Sweat equity refers to value created through the owner’s own work and improvements.

For buyers with construction experience, renovation skills, or access to reliable contractors, completing improvements can potentially transform an outdated property into a more comfortable and appealing home.

However, buyers should distinguish between cosmetic work and major structural or mechanical repairs.

Projects involving electrical, plumbing, gas, structural components, roofing, or other specialized systems should be handled by appropriately qualified professionals.

Final Thoughts

This three-bedroom bungalow in the New Castle area presents an opportunity for buyers who are willing to look beyond the property’s current condition and focus on its underlying potential.

The approximately 912-square-foot home provides three main-level bedrooms, one full bathroom, an eat-in kitchen, a living room, laundry hookups, and a covered porch.

Outside, the property offers approximately 0.41 acres of level land, providing more room than many standard residential parcels.

The availability of city water, city sewer, natural gas, and electricity adds practical value for buyers seeking a rural-feeling property without giving up municipal utilities.

The location near State Road 103, Henry Community Health, and the Wilbur Wright Trail access point creates an appealing balance between quiet surroundings and everyday convenience.

For investors, the property could be worth analyzing as a potential renovation, rental, or resale project.

For an owner-occupant, it could provide the opportunity to create a personalized home through carefully planned improvements.

The seller’s indication that seller financing is available may provide another avenue for qualified buyers, although all financing terms should be independently verified and professionally reviewed.

Ultimately, the property’s greatest appeal may be its flexibility.

It offers land, a practical three-bedroom floor plan, a one-level layout, municipal utilities, a covered porch, and a location with access to transportation, healthcare, and outdoor recreation.

It is a property that invites a buyer to bring a toolbox, develop a realistic renovation plan, and determine what the home could become.

Before purchasing, buyers should carefully evaluate the property’s structural and mechanical condition, estimate renovation costs, verify all property information, and conduct appropriate financial and legal due diligence.

For someone searching for an affordable real estate project with renovation potential, a sizable lot, city utilities, and a convenient New Castle-area location, this bungalow may be an opportunity worth investigating.

 

 

Listed on Zillow