1880 Silver Lake House, 1742 Sqft, Attached 2-Car Garage — $98,900

The house has been standing since 1880, which at this price in a small Indiana town is worth paying attention to. A lot of what gets called "character" in listings is just old trim that survived a renovation. Here the bones are actually old, and 144 years of that tends to show up in ways you either like or work around.

It's a three-bedroom, one-bath at 1,742 square feet, which is a reasonable amount of house. The layout has walkthrough rooms upstairs, the kind of arrangement that was standard in that era and can feel either natural or awkward depending on how you live. One of the bedrooms is a conversion, so figure out early on whether that works for your situation. The agent calls it flexible. It's a converted space, and you'd want to see it before drawing conclusions.

The original windows are still in place. That can go either way. If you like the look of old wood-frame windows and are willing to do the work, fine. If you're hoping for tight and efficient, budget for replacements.

What's already been done: newer roof, updated electrical panel. The heat is a boiler system, which runs on radiators. People who've lived with boiler heat tend to either love it or tolerate it. It's even, it's quiet, and it's old technology that's been around long enough that most HVAC people know how to service it.

The lot is 0.4 acres, which gives you actual yard in every direction. The attached two-car garage is a real asset, especially on a property this age when a garage at all is not a given. City utilities are in.

At $98,900 for 1,742 square feet on nearly half an acre with a garage and a new roof, the math is straightforward. The house needs updating and you'd be doing it on your own schedule. That's the trade.