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I just looked at a residential/commercial property yesterday that is 2.5 acres with a modest house that honestly isn't that bad. I mean it's not any thing to boast about but it's also not some shitty cracker box.
The thing is next to the house is a 30x36 garage/building (tall enough to get a tractor tailor in) that is only 1 year old. The property is on a state rd with access to a major highway less than 1 mile away and access to one of the major toll rods in MA just another mile or two away (ie goes straight to Boston which is about 1hr away)
The place sold for $147k in 2001, then they flipped it for $255k in 2005 and is now foreclosed and listed at $69k.
Personally, I'd love it for the garage and property size but I don't think I could live there as it's not a great location for me and it has a hotel butting up to the property that I don't think I'd want to live next to and as a investment I really don't want to do the rental shit.
It's just insane how much property went up then back down and I'd assume this place would at least go back to it's 2001 price range.
Aside from that there are duplexes and even 3 and 4 unit apt town houses all over in this area that are very cheap. (ie 100k to 170k) and this is in or around Worcester, which is a decent sized city but of course no Boston.
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