The value is in the future of subdividing the property. Once either or both of the contiguous neighbors agree to sell then the subject property can be mapped for approximately 25 lots and the existing house sold off on 3/4 an acre. The house needs interior paint and flooring and then could be rented out. Potential tenant with a couple of horses would pay $3,000+ a month in rent.
A "V" next to any listing's price indicates that that the seller is willing to entertain offers within the Listing Price range. For example, a Price Range of $140,000-170,000 indicates the seller will entertain offers from $140,000 to $170,000. An "M" or an "S" next to any listing's price indicates that the terms of the listing agreement state that the Broker will not be providing any of a number of customary services.