Former Carpenter Gothic B&B Under $20,000 in Indiana Historic Ohio River Town

b&b under $20,000

305 Fourth St., Aurora, IN 47001

$19,900

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Why is this beautiful circa 1840 Carpenter Gothic home so cheap? If you really want to know, I have the scoop. My daughter lives in Aurora, and her friend toured the house this week. (Actually, I was interested in the red house across the street, but for some reason it went off the market. Number 305 looks great from the outside. In fact, the 5-bedroom, 5.5-bath house was once known as the Gothic Arches Bed & Breakfast. It’s in walking distance to historic churches, restaurants, shops and the Ohio River. A gut job, however, is needed for the interior. The B&B owners added that hideous addition in the rear, but the real problem is structural. The building has a partial basement with a stacked stone foundation that is caving in onĀ one side. Floors slope and, as you can tell by the photo of the rear of the house, doors and windows are out of whack. You’d need a wad of cash for this one, but what a beauty it could be!

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See full listing here for former B&B under $20,000.