Iowa Fixer on Double Lot Drops From $49,000 to Just $20,000
A spacious century-old fixer-upper in Eldora, Iowa, has received another dramatic price reduction, bringing its current asking price down to just $20,000.
Located at 1501 11th Street, the two-story home was built in 1918 and offers approximately 1,778 square feet of living space.
The property includes two bedrooms, one full bathroom and one half bathroom and sits on approximately 0.38 acres.
The lot measures roughly 128 by 128 feet and is described as a full double lot, giving future owners considerably more outdoor space than many homes located within town.
At the current $20,000 asking price, the home is listed at only about $11 per square foot.
Its price history makes the listing even more eye-catching.
The property originally entered the market in June 2026 for $49,000.
The price was reduced to $36,000 in August before another $16,000 cut on October 5 brought the asking price down to just $20,000.
Altogether, the property has dropped $29,000, or approximately 59 percent, from its original asking price.
The low price comes with an important warning.
According to the seller’s description, the home is being sold as-is and needs rehabilitation.
That makes it more appropriate for an investor, renovation-minded buyer or someone prepared to take on repairs rather than a purchaser searching for a turnkey home.
Inside, the property still offers a surprising amount of space.
The main floor includes a large living room with a fireplace and a separate formal dining room.
A back mudroom provides access to a conveniently located main-level half bathroom.
Storage is another standout feature.
The listing says the home contains four walk-in closets, an unusual amount of storage for a property at this price.
Two generous enclosed porch areas provide additional flexible space.
The seller suggests they could potentially function as an office, playroom, hobby space or other bonus area depending on the next owner’s renovation plans.
Below the main floors is a full unfinished basement offering approximately 768 square feet of additional below-grade space.
It is not included in the home’s finished living-area total but could provide useful room for storage, utilities or workshop activities.
Heating is supplied by a natural-gas boiler or steam system, while no central cooling system is currently listed.
Outside, the 0.38-acre double lot offers room for gardening, outdoor gatherings or future projects.
A detached garage structure provides additional parking and storage space, while the crushed-rock driveway offers off-street access.
The home is connected to public water and public sewer and has no homeowners association.
Annual property taxes are approximately $1,492.
For buyers searching for a renovated move-in-ready house, significant work will be required.
But for someone looking for a low-cost renovation project with substantial interior space and a large lot, 1501 11th Street presents an unusual opportunity.
With two bedrooms, 1.5 bathrooms, 1,778 square feet, four walk-in closets, a fireplace, basement and double lot, this Iowa fixer is now asking just $20,000.
Listed on Zillow