Can you post pictures in comments? The site has some glitches recently, pictures often don't show in the opening post.

https://www.realtor.com/realestateandhomes-detail/1603-N-College-Ave_Newton_NC_28658_M67866-44632

I'm less cynical. I think it's an amazing deal and the inside seems to be in relatively good shape. Also a great yard. Where I live (Seattle metro area) that house would go for at least $500k. If you have some DIY skills, there is a lot of potential there. Definitely start with a walk-through to check for damage. The roof looks decent and the siding does, too, except for the back where there is that staining you mentioned. One other concern is that, even though it is decent size, the listing says 1 bedroom, so you would need to give thought to how to reconfigure space inside. The second floor space, which looks like a converted attic seems to have low ceilings, so see how that feels to you when you are inside. Finally, you should definitely have the foundation checked by an inspector (I've lived in NC, and some of those old foundations are a bit sketchy).

Good luck and tell us what you find.

You're smart to do some homework up front to eliminate as many potential surprises as you can. It appears there is a beautiful older home underneath that vinyl siding that's waiting to be rescued.

To help you get a better idea of what you should expect, I'd pay folks with the expertise to evaluate the roof, structure, and systems (real professionals-- not a home inspector.) The home should also be tested for lead paint and asbestos--not necessarily show stoppers, but can be expensive to deal with.

Best wishes for a successful project.

Two issues: How handy are you - and do you have an emergency cash account.
If the answer is "we can paint, but not do major work" and/or "this house will tap out our savings" then this isn't a good situation.

There will be plenty wrong with this house and you will need to be able to live with it. Things like wiring, plumbing and structural issues will be common. Check the foundation carefully. Is it on city water / sewer or well and septic?

The thing is that a "deal" can quickly become something very different if a house needs a new roof, or furnace, or septic a few years after moving in when you are tapped out. This is how families get into serious financial trouble.

Speaking as the owner of a 100 year old home that has had water damage, I would do it if:

1. you are thinking of this as a forever home and don't need to be getting your money out of it for quite a few years.

2. It ticks all your other boxes - good schools, nice neighbourhood, etc.

3. You get a great home inspector or contractor you trust to go over the place with a fine tooth comb and give you a real rundown of what is involved. You want to know both cost, time and bother (can you live in the home while repairs are being done?).

When we bought our home we heard some horror stories about home inspectors who the real estate agents loved, but did a crappy job for their clients by giving glowing reports when unwarranted. We found an inspector the real estate agents hated, but gave us realistic reports. We paid him for 3 or 4 inspections on different houses, but we knew when he gave us the thumbs up on, it was for real and was the home for us.

Our home was in solid shape for a 100 year old home when we bought it 20 years ago. It mainly needed cosmetic work which we could do ourselves. We had pipes burst about 3 years ago and, because of asbestos found in testing of plaster (later we found out the results had been mixed up and there was no asbestos) insurance was on the hook to replace everything - down to the studs and bring everything up to current bdlg codes. Where we are, I believe the total cost to completely gut and redo our 2,000 sq ft home was just over $200, 000. I know building costs vary greatly from place to place, but this may give you an idea.

The main things: good roof / wiring / plumbing / HVAC. From the inside pic's I think it's quite doable to fix-up.

If you were an experienced homeowner, or one that had already gone through renovations, etc, I would say yes, go for it. It looks nice on the outside and the yard could be beautiful. But, since this sounds like you are a first time homebuyer, buying on a budget, this could be a bit more than you can handle.

If you have to ask, the answer is yes.

I've been doing home reno projects in my own houses for almost 40 years, and I made some mistakes early on and I took a long time to get some stuff done because I was learning. I'm still asking questions. But if I was afraid to take on a project because I had lots of questions, I never would have accomplished anything.

It is a charming home with a great yard and lots of potential. Looking through the pictures, I see lots of positives and lots of negatives. The negatives can be dealt with, but I would get a clear understanding of what you are up against.

Why even offer 65? I wouldn't.

It's an old house and, even if perfect, will require more...more patience, more money, more diy skills, more creativity. Are you prepared to never be "done" with it?

If you're willing to live in a mess for an extended period without getting frustrated and, ultimately, hating your house (pessimism is desirable here...) then you'll be okay and will have an absolute stunner of a home. But you need to LOVE houses with "quirks"...

I would by it in a heartbeat.

If you think it's been flooded is it in a flood plain? My sister and BIL were going to buy their daughter a small fixer upper for her to live in and rent rooms. But... They found out not only in a flood plain (also a manufactured home) but also if home ever was taken down they were restricted that another structure/home could not be rebuilt because of the flood plain status that got changed a few years ago. I don't know exact details but of course did not go through with it.

She doesn't think it's been flooded. The water damage reference is to some burst pipes.

I guess I paid more attention to the back door, vinyl siding, exterior wall showing water damage. I kind of forgot the busted water pipes part. But could it be both? Definitely have a inspection.

No...it's in an extremely low risk flood plain area: Zone X - Minimal Flood Risk

Also looking at your pictures, the wiring looks like it hasnt been updated, and that would need to be done, to make it a safer place for your family to live. That can also be costly, and of course we cant see it, but if the plumbing is all old and original, you can plan on both waste lines and water lines having to replaced everywhere.

An inspection is required to determine what would need to be done. For example, I've lived in a number of older dwellings whose plumbing and electrical were original and it did not mean I had to replace it because It was unsafe or old. In some cases I chose to update...but did it over many years as I had time, or in conjunction with remodeling parts of that house. I'm not saying the OP shouldn't look at updating; however, I am making clear that this is not something that necessarily needs doing immediately.

Thanks Everyone! I ended up looking into the public records and finding out that the attic conversion was not permitted and does not meet code. Which forced us to walk away. If we had double the budget, we’d buy it and it would be gorgeous, but we don’t

Sarah-

I'm sorry that this didn't work out for your family, but you are right to move on because of the un-permitted attic conversion. I didn't think that any of the other issues were necessarily deal killers, but this is an issue you don't want to take on with the other things that needed doing. Keep looking...the right house is out there waiting for you :-)

Thanks for letting us know. I think you made the right decision. Hopefully, you will find your perfect house at a perfect price for your family.