Derelict and decaying: Gladstone house hits market for $20k – is this …

3 Fifth St, Gladstone. Pic: realestate.com.au

A dilapidated house in SA’s Mid North described as nothing more than “four walls and a roof” is offering househunters a cheap buy.

The deteriorating property at 3 Fifth St, Gladstone, which is about half an hour’s drive from Port Pirie, is being sold via online auction, with the current bid standing at just £20,000.

Selling agent Angus Barnden, of Wardle Co Real Estate, said the buyer “definitely can’t live in it” in its current state but said the property could be a project.

“The way I describe it is a house that has a roof on it and framing, and even that’s pretty iffy,” he said.

3 Fifth St, Gladstone. Picture: realestate.com.au

3 Fifth St, Gladstone.

Picture: realestate.com.au

3 Fifth St, Gladstone. Picture: realestate.com.au

“Somebody was trying to renovate it, I’m guessing they started doing work to it and it never eventuated.”

Mr Barnden wasn’t sure how long the property had been in its current state but said it had been “more than six months”.

He said it was subject to a HIA order, which were issued by the Human Services Minister and require a house be assessed, improved or demolished if its considered undesirable or uninhabitable.

“There’s a heap of regulations around building code and how satisfactory the building is,” Mr Barnden said.

“If the framing inside is all safe and up to code… it could be salvageable.”

Mr Barnden said the house required a lot of work though as it didn’t have many of its essential features, including a kitchen or bathroom and some flooring.

3 Fifth St, Gladstone. Picture: realestate.com.au

3 Fifth St, Gladstone.

Picture: realestate.com.au

3 Fifth St, Gladstone.

Pic: realestate.com.au

Water to the property is connected but power isn’t, yet it is available there.

The property is being sold via Openn Negotiation, a sale process whereby prospective buyers publicly submit offers for a property up to a predetermined date.

The auction will end at 11am on March 30 with settlement to follow on May 3.

“There’s a bit of interest in it, more so investors though,” Mr Barnden said.

According to PropTrack data, Gladstone’s median house price was £149,000 in the year to February.

While there was no rental data for the small rural town, realestate.com.au shows there is one property listed for rent at £230 per week.

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