Inside a $65,000 Madisonville, Kentucky Property With 1.19 Acres, a Large Outbuilding and Investment Potential

Finding an affordable property with both a livable home and a substantial amount of land can be increasingly difficult, especially for buyers looking beyond traditional suburban lots. In Madisonville, Kentucky, however, a property at 339 S Daves St offers an interesting combination of affordability, usable acreage, existing structures, and potential for a variety of future plans.

Listed at $65,000, this two-bedroom, one-bathroom cottage contains approximately 1,172 square feet of living space and sits on roughly 1.19 acres. The property also includes a large outbuilding with a garage door and significant storage space, along with an inground storm shelter in the yard.

The property is being offered “As-Is”, with no guarantee or warranty from the seller, and the listing notes that utilities are currently off. It is a HUD property, with bids submitted electronically through HUD’s designated system.

For buyers willing to take on a property requiring careful evaluation, the combination of a modest home, generous lot, additional storage, and an in-town location creates an intriguing opportunity.

A Two-Bedroom Home on More Than an Acre

The first thing that stands out about 339 S Daves St is the amount of land.

The home sits on approximately 1.195 acres, which is considerably more space than many conventional residential properties offer. That additional land changes the possibilities considerably.

Instead of being limited to a small backyard, the next owner has room for gardens, outdoor recreation, storage, landscaping, or other uses permitted by local regulations.

The property is also located in town, providing an unusual combination: a residential setting with a relatively large amount of land.

For someone who appreciates privacy but does not necessarily want to live far outside a community, that balance can be appealing.

The property could potentially serve as a primary residence, weekend project, rental opportunity, or longer-term investment, depending on the buyer’s goals and the property’s condition.

A Cottage With 1,172 Square Feet of Living Space

The home itself offers 1,172 square feet of interior living space.

Its cottage-style architecture gives it a straightforward residential character, while the floor plan includes two bedrooms and one full bathroom.

Both bedrooms are located on the main level, as is the bathroom. The main floor also includes the kitchen, dining room, and living room, creating a practical single-level arrangement.

For buyers who prefer to avoid stairs, a home with all primary living spaces on one level can be especially convenient.

The two-bedroom configuration could work well for a small household, a couple, or an individual who wants an extra bedroom for guests, an office, or another purpose.

At the same time, the home’s relatively modest size can potentially make it easier to manage than a much larger property.

An Interior With Character and Practical Features

The listing identifies several interior features that give the home a distinct character.

A cathedral ceiling contributes a greater sense of openness to the interior, while ceramic bathroom finishes add a practical touch.

The property also has hardwood and tile flooring, replacement windows, and a split-bedroom layout.

The split-bedroom configuration can create separation between sleeping spaces, depending on the exact floor plan and room arrangement.

A main-level laundry area adds another practical convenience, eliminating the need to travel to a basement for washing and drying clothes.

There is no basement, which is worth noting for buyers who prefer a simpler layout but also means that storage needs should be considered carefully.

Fortunately, the property offers another solution to that issue.

The Large Outbuilding Could Be One of the Property’s Biggest Assets

For many buyers, the most intriguing feature of this property may not be the house at all.

The listing specifically highlights a large outbuilding with a garage door and plenty of storage space.

That type of additional structure can be extremely useful for a property owner.

It could provide space for tools, lawn equipment, recreational equipment, workshop activities, seasonal belongings, or other storage needs, subject to the structure’s actual condition and permitted uses.

For someone interested in rural-style living, having a substantial outbuilding can be a major advantage.

It can also reduce the pressure on the main house to provide storage.

Instead of filling bedrooms, closets, or living areas with equipment and supplies, the outbuilding could potentially serve as a dedicated secondary space.

Prospective buyers should inspect the structure carefully, including its roof, foundation, doors, electrical service, flooring, and overall condition.

Two-Car Attached Parking and Carport

The property also provides several parking-related features.

The listing identifies two attached garage spaces, along with a carport and uncovered parking.

That is a substantial amount of vehicle accommodation for a home of this size.

For a buyer with multiple vehicles, a trailer, recreational equipment, or work-related needs, the parking setup could add considerable convenience.

The paved road and blacktop parking areas further contribute to everyday accessibility.

Again, the condition of these areas should be verified during an in-person inspection, particularly given the property’s “As-Is” status.

The 1.19-Acre Lot Offers Room to Think Bigger

One of the biggest differences between this property and a typical $65,000 home is the land.

Nearly 1.2 acres creates room for possibilities that simply do not exist on a small residential parcel.

The lot is described as irregular and includes a garden area.

A future owner could potentially expand the garden, create additional outdoor living areas, establish recreational space, or improve the existing landscape.

Depending on local zoning and development regulations, the acreage could also be relevant to future plans involving additional structures.

The listing itself mentions the possibility of building more units, but that should be viewed strictly as potential rather than an established development right. Anyone considering additional residences, rental units, accessory structures, or subdivision should independently verify zoning, density rules, setbacks, utilities, access requirements, permits, and other applicable restrictions with the appropriate local authorities.

That due diligence could be especially important for an investor.

An Interesting Opportunity for Investors

The property description specifically presents the land as having potential for investment use.

The existing home could potentially be retained as a rental property, while the additional acreage and outbuilding provide other possibilities to investigate.

For an investor, the attraction is the combination of multiple existing assets:

• A two-bedroom home
• Approximately 1.19 acres of land
• A large outbuilding
• Attached two-car parking
• A carport
• City water
• City sewer
• A paved road
• In-town location

The property therefore offers more than simply 1,172 square feet of living space.

However, investors should avoid assuming that additional units can automatically be constructed. The listing’s reference to possible additional building opportunities does not itself establish legal development rights.

Before purchasing for that purpose, a buyer should verify zoning, parcel configuration, permitted residential density, utility capacity, building setbacks, access, parking requirements, and all required approvals.

City Water and Sewer Add Convenience

Although the property has a relatively large lot, it is not dependent on private well and septic systems.

The listing reports city water and city sewer.

For many buyers, this can be a meaningful convenience.

Municipal utilities can simplify certain aspects of property ownership and may also be relevant when evaluating future development possibilities.

The property has electrical service with 220-volt capability and circuit breakers, although the listing notes that utilities are currently off.

That distinction is important.

Buyers should not assume that systems are currently operational simply because utility infrastructure exists. During due diligence, prospective purchasers should determine the condition of electrical, plumbing, heating, cooling, water, and sewer systems and understand what work may be required to restore or maintain service.

A Home Being Sold “As-Is”

The property’s “As-Is” status is one of the most important considerations for potential buyers.

The seller is offering the property without guarantees or warranties, which places greater importance on the buyer’s own inspection and investigation.

For an experienced investor or renovation-minded buyer, an as-is property can provide an opportunity to purchase at a lower price point and improve it according to a specific plan.

For a buyer seeking a move-in-ready home, however, the condition of the property needs to be understood before making any assumptions.

Because the utilities are currently off, inspections may require additional planning.

Buyers should determine whether utilities can be activated for inspection, whether any systems require repair before testing, and whether there are known issues affecting the home or outbuilding.

The goal should be to understand the property’s actual condition rather than relying solely on listing photographs or descriptions.

The Inground Storm Shelter Adds a Unique Feature

Another unusual feature is the inground storm shelter located in the yard.

For a Kentucky property, an existing storm shelter can represent a practical addition, particularly for buyers who place importance on having a designated protected area during severe weather.

Its condition, construction, drainage, accessibility, and any maintenance requirements should be inspected.

Nevertheless, the presence of an existing shelter gives the property another feature that distinguishes it from many conventional homes at this price point.

It also reinforces the property’s practical, utilitarian character.

A Garden and Outdoor Space

The property includes a garden area, providing another opportunity for outdoor use.

With nearly 1.2 acres, there is considerably more room to work with than on a typical small residential lot.

A garden could become a hobby, a source of fresh produce, or simply another attractive element of the landscape.

The broader acreage could also potentially accommodate outdoor seating, play areas, recreation, or landscaping improvements.

For buyers who enjoy working with land, the property’s size could be one of its most rewarding qualities.

Rather than purchasing a finished suburban yard, the next owner has the opportunity to shape the outdoor environment over time.

A Practical Property for Different Types of Buyers

One of the interesting aspects of 339 S Daves St is that it can be interpreted in several different ways.

A first-time buyer might see an affordable two-bedroom home with a large yard and substantial storage.

An investor might focus on the rental potential and the possibility of exploring additional development.

A hobbyist might be attracted to the large outbuilding and two-car garage.

A gardener could appreciate the acreage and existing garden area.

Someone looking for a project could see an opportunity to improve an older cottage while preserving its simple character.

The property therefore does not depend on a single type of buyer.

Its appeal comes from the combination of house, land, storage, parking, and potential.

Madisonville Living With Space

The property is located in Madisonville, Kentucky, while still offering an unusually spacious parcel for an in-town residence.

That combination can appeal to people who want access to a community environment without giving up the feeling of having their own piece of land.

The property does not present the typical image of a tightly packed residential lot.

Instead, approximately 1.19 acres creates a greater sense of separation and provides room for outdoor projects.

For someone accustomed to smaller city lots, that additional space could make a significant difference in how the property is used.

Potential for a Long-Term Project

Properties like this can also appeal to buyers who are thinking several years ahead.

The house provides an existing residential structure, while the acreage creates room for future ideas.

The next owner could gradually improve the home, organize the outbuilding, enhance the garden, maintain the wooded or open portions of the lot, and explore whether any additional development is legally and financially feasible.

That gradual approach may appeal to buyers who do not need everything completed immediately.

Instead of treating the property as a finished product, they can approach it as a long-term project.

The key is to establish a realistic plan based on the property’s actual condition, local regulations, and available budget.

What Buyers Should Investigate

Because the property is being sold by HUD and is offered as-is, due diligence should be a central part of the buying process.

The listing identifies the HUD case number as 201-744537 and directs interested buyers to HUD’s official property resources for additional information and electronic bidding.

Potential purchasers should carefully review the official listing and applicable HUD terms before submitting an offer or bid.

They should also investigate the condition of the home, outbuilding, garage, carport, storm shelter, roof, foundation, electrical systems, plumbing, heating and cooling systems, windows, and other major components.

The fact that utilities are currently off makes this even more important.

Anyone considering the property as an investment should separately confirm zoning and development possibilities rather than relying on the property’s marketing description alone.

Why the Land May Be the Real Story

At first glance, a $65,000 two-bedroom home may appear to be a straightforward affordable housing opportunity.

But the larger story is the land.

Nearly 1.2 acres in town, combined with an existing home and substantial outbuilding, creates a property with dimensions that extend well beyond the house itself.

The additional acreage provides privacy, storage opportunities, gardening potential, outdoor space, and room to consider future improvements.

That makes 339 S Daves St particularly interesting for buyers who believe that land can be just as important as square footage.

The home provides the starting point.

The acreage provides the possibilities.

Final Thoughts

At a list price of $65,000, 339 S Daves St in Madisonville presents an unusual combination of affordability, living space, land, storage, and potential.

The property includes a 1,172-square-foot, two-bedroom, one-bath cottage situated on approximately 1.19 acres. A large outbuilding provides additional storage, while two attached garage spaces, a carport, a garden, covered porch, and inground storm shelter add further functionality.

City water and sewer are available, and the property sits along a paved road.

Perhaps most importantly, the acreage creates flexibility.

For an owner looking for privacy, the land provides breathing room. For someone interested in gardening or outdoor projects, there is usable space. For an investor, the existing home and additional acreage may justify investigating future possibilities. And for a buyer who enjoys renovation projects, the as-is condition could provide an opportunity to create a more personalized property.

There are, however, important questions to answer before moving forward. Utilities are currently off, the home is being sold as-is, and any plans for additional units or construction would need to be verified through local zoning and permitting authorities.

For the right buyer, though, this Madisonville property offers something that is difficult to measure solely in square feet: room to create a future.

A modest cottage, a large piece of land, a substantial outbuilding, and plenty of possibilities make this $65,000 property an intriguing example of how value can extend far beyond the walls of the main house.

 

 

From Zillow