4/2 c.1920 New York Fixer Upper Farmhouse on 1.35 Acres Under $50K

OHU50K Notes     $49,900

Realtor Comments

Great autumn /winter project! This Farmhouse on 1.35 acres offers lots or room both inside and out! Large kitchen, good size bedrooms, a first floor laundry room with pantry shelves. First floor bathroom off the kitchen and one upstairs! Space everywhere you look! Chenango Valley school district. Close by vehicle to the City of Binghamton. No owner financing or rent to own here. Special addendums may apply. Home is being sold as is.

• 4 beds
• 2 bath
• 1,660 sqft
• 1.35 acres lot
• Build date 1920

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Pros

• Quiet, rural environment. Colesville has only about 61 people per square mile. You get farms, woods, hills and considerable privacy rather than suburban density.
• Close enough to Binghamton for amenities. You’re far enough out to feel rural but close enough to use Binghamton for major shopping, hospitals, restaurants and entertainment.
• Affordable relative to much of New York. Current Census Reporter data puts median household income around $61,300 and per-capita income around $27,200. Housing is generally considerably cheaper than downstate New York.
• Large lots and rural properties. If you’re looking for acreage, a farmhouse, land for gardening, animals or simply space between neighbors, Colesville is considerably more attractive than an urban/suburban market.
• Good scenery and outdoor recreation. The hills, forests, streams and farmland make it appealing for hiking, hunting, fishing, gardening and general outdoor living.
• Strong community orientation. The town’s own comprehensive-planning survey shows residents placing substantial importance on rural character, scenic beauty, safety and schools.
• Schools are viewed relatively positively by residents. In the town’s planning survey, schools were one of the highest-ranked community characteristics.
• Emergency services have a community presence. Colesville has a volunteer ambulance service based in Harpursville.
• A few local businesses provide character and convenience. For example, Nineveh Country Store provides a small-town store/deli option, while farm businesses such as Silverwind Farm add to the rural character.
• Less population pressure than many desirable Northeast locations. You’re not dealing with the traffic, density and property prices found closer to major New York metros.

Cons

• It’s genuinely rural. Don’t expect a traditional downtown with lots of stores and restaurants. Shopping and entertainment generally mean driving.
• Car dependency is high. Public transportation is particularly weak. In Colesville’s planning survey, 49% of respondents rated public transportation as poor, while another 31% weren’t sure about it.
• Internet access can be an issue. This is one I’d take seriously if you’re considering remote work. In the town’s more recent survey, only 56% said they currently had high-speed internet, while another 24% said they did not have it but wanted it.
• Taxes are a major concern. Interestingly, 82% of respondents in the town’s planning survey identified increasing taxes as a major concern. Cheap rural real estate doesn’t necessarily mean cheap total carrying costs.
• Population has been relatively flat/declining. Colesville had 4,877 residents in 2020 and current ACS data puts it around 4,797. Broome County overall has also declined about 1.5% since 2020.
• Local employment is limited. If you need a broad selection of professional jobs, Binghamton will be important. Colesville is much better suited to retirees, remote workers, commuters and people with location-independent income.
• Healthcare isn’t a major local strength. There are emergency/ambulance services, but you’ll generally depend on Binghamton for extensive medical care and specialists.
• Winter weather is a real factor. This is upstate New York. Snow, ice, freezing temperatures and rural roads can make winter substantially more challenging than the Alabama or Virginia places you’ve been considering.
• Flooding deserves attention on individual properties. The town’s comprehensive-plan survey specifically identified potential future flooding as a concern. If you’re looking at a property near a creek or river bottom, I’d investigate its flood history carefully.
• Older rural housing can require substantial maintenance. Wells, septic systems, roofs, foundations, heating systems, driveways and outbuildings can all become significant expenses.
• Resale can be slower for unusual rural properties. A nice house on a good lot can be 🏠 Housing affordability. Winter – compared attractive, but highly rural/large-acreage properties have a smaller pool of buyers.

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