MIddleton/ Dane County/ Wisconsin

[John Franczyk]

I have a lead on a property in Middleton that needs a ton of work. It's an SFR, roughly 100 years old, with a foundation that is in bad shape. The beauty of it is that it's on a road that has access and water rights to Lake Mendota. The ARV is somewhere between $200K and $240K. I think the land has more value than the house itself, but I don't know the neighborhood all that well.

Is it worth pursuing a house that might need $40K in foundation repairs? Comparable properties in the neighborhood are being torn down to erect bigger structures, but that's not my wheelhouse. I'm just looking for ideas here.