At first glance, this six-bedroom former schoolhouse in Maine appears to be an absolute steal.
Priced at $275,000, the spacious property costs about half of a typical home in the US.
But behind its quaint exterior lies a serious renovation project.
The 6,244 sq ft building formerly housed both an elementary school and a high school for Stockton Springs, a small town on the coast of Maine, about 55 miles northeast of Augusta.
It was converted into office space for local businesses after a more modern school was built down the road and more recently was repurposed into a summer home by a family who bought the property in 2002.
Today, the historic building boasts five bathrooms and charming original features, including a bell tower.
While some of the property has already been renovated into livable space, other parts still need work and feel more like a school than a home.
Listing agent Keirsten Wyman of RE/MAX Jaret & Cohn told the Bangor Daily News: ‘It was never built to be a home, so there are a lot of renovations that would need to happen to make it one.
A 6,244 sq ft former schoolhouse that boasts six bedrooms and five bathrooms and was built in 1853 is on sale for a modest $275,000
Parts of the building still need work and feel more like a school than a home, such as this hallway with scratched-up red floors and walls in need of a paint job
This room in the building also has undesirable flooring painted blue, with large chunks chipping off
Other parts of the property, such as this bedroom, have a more modern feel and desirable hardwood floors
The bathrooms are also clean and contain all necessary amenities
‘It has its challenges, but the potential is amazing if someone has the heart. It could really be something special.’
Pictures of the interior show modern-looking bedrooms and large living spaces with hardwood floors and plenty of natural light, as well as clean bathrooms with all the necessary amenities.
But the pictures also show parts of the property with less desirable, scratched-up flooring of different kinds, such as one with blue paint chipping off in large chunks.
A picture of one of the hallways shows a red floor with large streaks and walls in dire need of a paint job.
The additional renovations that would be required are likely the reason why the home has languished on Zillow for 116 days.
But bargain hunters could be in luck as the property had its price cut by $95,000 in mid-October.
According to Zillow, the average time it takes to sell a house in the US is 47 to 62 days.
But some prospective buyers may be charmed by the schoolhouse features that remain after more than 150 years, such as the bell tower and the old principal’s office.
This large living space in the property also has desirable hardwood floors and many large windows that let in natural light
Some prospective buyers may be charmed by the property’s old schoolhouse features, such as the clock tower, that have remained for more than 150 years
The building sits on a half-acre lot, so there is plenty of space for kids to run around and potential to develop nice front and back yards as well
The property is a ten-minute drive from Fort Point State Park, and the nearest downtown in Bangor is less than an hour away
One of the rooms on the ground floor, which used to be a classroom, also still has a large chalkboard mounted on the wall.
And some of the doors are still in a classroom style, with large windows on them.
The building has already been winterized, meaning new owners could live on the property year-round despite Maine’s bitterly cold winters, where temperatures easily reach below freezing.
Wyman added that if someone were to convert the old schoolhouse into a home, one of the most significant necessary renovations would be an overhaul of the septic system to accommodate more tenants.
The building sits on a half-acre lot, so there is plenty of space for kids to run around and potential to develop nice front and back yards as well.
The property is a ten-minute drive from Fort Point State Park, and the nearest downtown in Bangor is less than an hour away.
The $275,000 listing price is nearly $100,000 cheaper than the average price of a home in Stockton Springs, which is $360,000 according to Zillow.
And it is almost half the average sale price of a home nationally, which is $512,800, according to the Federal Reserve Bank of St. Louis.