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Posted By: davidcycleback

Perhaps all you need to know is that no local who's seen the house was willing to offer $1.80 for it.

I've seen houses that I wouldn't take if they paid me $500, knowing it would take at least a couple hundred thousand to fix up the house or raze it and build a new house. All the while I'd be paying the property taxes.

Some houses are so bad or otherwise will inevitably will be replaced, they be worth more if it was just the plot of land. One of the costs will be for razing and removing the house to get to zero. My neighbors had their house razed so they could build a new one, and the razing cost itself was something like $50,000.