Historic 4-Bedroom Country Home & Barn

Historic 4-Bedroom Country Home & Barn – Selling “AS IS, WHERE IS” via Online Auction (Panama, NY)

Bidding Opens: November 11, 2025 – Closes: November 13, 2025
Open House: Monday, November 10th, 3:00 PM – 5:00 PM (NO Private Showings)
Auction Website: www.petersonauction.com

Nestled in the quiet village of Panama, New York, this classic early 20th-century country home offers a rare opportunity for restoration enthusiasts, investors, or anyone seeking a project property with remarkable potential. Selling “AS IS, WHERE IS”, this property will be available exclusively through online bidding from November 11th through November 13th, 2025.

Featuring approximately 1,728 square feet of living space, a spacious barn, and vintage architectural character throughout, this property embodies a rustic charm that’s becoming increasingly hard to find. While the home is in need of extensive repair, it offers a solid canvas for renovation — whether you dream of restoring it to its former beauty, transforming it into a weekend retreat, or using the land and structures for new creative purposes.

Property Overview

This two-story residence sits on a modest lot and includes a 30′ x 36′ barn at the rear, perfect for storage, hobby farming, or workshop space. Constructed with painted wood siding, a stone foundation, and a traditional shingle roof, the home reflects an era when craftsmanship and simplicity defined rural American living.

Although time and the elements have taken their toll, the structure still retains much of its original character — from the layout and the wood framing to the covered front porch that welcomes visitors into what was once a warm and inviting family home.

Interior Layout
First Floor

Upon entering the home, visitors step into a space that immediately recalls a bygone era. The first floor includes several distinct rooms that together create a functional layout typical of classic farmhouses.

Kitchen – The kitchen features two small storage rooms, possibly used as pantries or cold storage spaces. Though currently in need of a full renovation, its size and position within the home provide an ideal foundation for a country-style kitchen redesign. Large windows could be restored to bring in ample light, and the room’s proximity to the dining area offers convenience for modern living once updated.

Dining Room – Adjoining the kitchen, the dining room was once the heart of family gatherings. With the right vision, this space could be transformed into a warm communal area for meals, conversation, and celebration.

Living Room – The living room provides a comfortable, spacious area perfect for relaxing or entertaining. Despite its current condition, the room retains hints of charm, with enough space to incorporate a traditional wood stove or gas fireplace for added character.

Den/Office – A flexible room that could easily serve as a home office, study, or reading nook. Given the home’s vintage layout, this smaller space likely served as a parlor or secondary sitting room in earlier decades.

Two Bedrooms – The main floor features two bedrooms, which can be reimagined as guest rooms or part of a main-level master suite after renovation.

Covered Front Porch – The front porch, one of the home’s most appealing exterior features, provides a sheltered outdoor sitting area overlooking the yard. With restoration, this could become a charming spot to enjoy morning coffee, sunsets, or quiet reflection.

Second Floor

The second story of the home offers additional living space, featuring two bedrooms and a partial attic. Each bedroom has the potential to become cozy and inviting once renovated, and the attic could serve as storage or be expanded into a creative loft or studio area.

The upstairs retains the structure’s simple, functional layout — a testament to the home’s original design, which prioritized practicality and comfort.

Basement & Utilities

Below the main structure lies a partial basement with a concrete floor and stone foundation. The basement houses a natural gas furnace, though it is unclear if it is currently operational. The home is serviced by a 60-amp electrical system with fuses, which indicates limited electricity — upgrades would be necessary to meet modern standards.

Importantly, the property does not have water or sewer connections, and there is no bathroom in the home. An outhouse remains on-site, which aligns with the rustic and historical nature of the property. Future owners may wish to explore adding a well and septic system to modernize the utilities.

Exterior Features

The home’s painted wood siding and shingle roof evoke the timeless style of early American rural homes. Though both show signs of wear, these features could be restored or replaced to preserve the property’s traditional aesthetic. The stone foundation provides historical value and stability, though some sections may require reinforcement or repair.

Outside, the surrounding yard offers ample room for gardening, outdoor living, or small livestock. The property’s barn, measuring 30 feet by 36 feet, stands as a versatile structure with countless potential uses — from equipment storage to workshop space, studio, or even conversion into a guest suite or event area (subject to zoning and renovation).

Condition & Restoration Potential

As noted, the property is being sold AS IS, WHERE IS, with no warranties or guarantees regarding condition, repairs, or fitness for use. This home requires extensive renovation, including electrical, plumbing, roofing, and interior restoration. However, for the right buyer — whether a contractor, experienced renovator, or preservation enthusiast — it represents a rewarding challenge.

Opportunities include:

Full renovation into a charming country home or Airbnb retreat.

Restoration project for those interested in historic architecture or hands-on craftsmanship.

Investment property, offering potential long-term value after rehabilitation.

Workshop or artist studio, utilizing both the home and barn for creative space.

Land reuse, possibly incorporating new construction while retaining the barn or original façade for aesthetic appeal.

The rustic nature of this property offers tremendous creative freedom. Buyers who appreciate the beauty of aged wood, original framing, and the challenge of revitalizing historic homes will find this project especially appealing.

Auction Details

This property will be sold exclusively through Peterson Auction, an established and reputable auction service known for transparent, well-managed online real estate sales.

Bidding Opens: Tuesday, November 11, 2025

Bidding Closes: Thursday, November 13, 2025

Location: Online only, at www.petersonauction.com

All interested bidders are encouraged to review the full Terms & Conditions available on the auction website:
https://petersonauction.hibid.com/catalog/688430/24-south-st–panama–ny-real-estate

A public open house will be held on Monday, November 10th, from 3:00 PM to 5:00 PM.
This is the only opportunity to view the property in person — no private showings will be arranged.

All inspections must be completed during this time, and buyers are encouraged to perform their own due diligence regarding the property’s condition and potential use.

Location: Panama, New York

Situated in Chautauqua County, the small village of Panama, NY, offers the peaceful setting of rural Western New York while still being within reasonable driving distance to larger towns and amenities. Known for its friendly community, rolling farmland, and historic charm, Panama provides a serene backdrop for those looking to escape the noise of city life.

Nearby attractions include:

Panama Rocks Scenic Park – a local natural wonder with hiking trails and striking rock formations.

Chautauqua Lake – offering boating, fishing, and recreational activities.

Chautauqua Institution – a world-renowned cultural and educational center nearby.

Local shops and diners that maintain the area’s small-town character.

Summary

This property at 24 South St., Panama, NY, represents a rare opportunity to purchase a piece of rural Americana at online auction. With its four bedrooms, spacious barn, and original craftsmanship, this home invites restoration and creativity. While it is not currently habitable and will require significant work, the potential for transformation is undeniable.

Whether you’re a contractor, investor, or simply someone who sees beauty in old structures waiting to be reborn, this home offers the promise of new beginnings. Bring your imagination, your tools, and your vision — and create something truly special.

Don’t miss your chance to bid in this exclusive online auction from November 11–13, 2025, only at Peterson Auction
.

Remember: The property is selling strictly AS IS, WHERE IS — with no contingencies or guarantees — so buyers should inspect thoroughly and bid accordingly.