This Iowa Home with 5 Bedrooms is About $40K (But You'll See Why)

There are entire TV shows centered around fixing up homes. Chip and Joanna Gaines have made a whole boatload off of this concept. If you're a fan of the show or the idea of fixin' up homes, this one might just be for you. I say might because it comes with some truly odd baggage.

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Located in Creston, which is south of Iowa's capital Des Moines, this house will only set you back about $40,000 according to the Realtor.com listing. When you read the stats on the house, you might ask yourself, "why is this place so cheap?" Especially in this housing market.

Welllll, for one thing, the home is a foreclosure. As is often the case with foreclosures, the home appears to be in severe disrepair. Before we poke around, here's the tale of the tape on 314 N Division St, Creston:

2,248 sqft
6,970sqft lot (not bad!)
5 bedrooms
2 bathrooms
2 car garage (kiiinda - see the photos)
Built-in 1925
Located in Creston, Iowa - population 7,536

And here's something I have never seen on Realtor.com, the home comes with a condition for the buyer...

This property is being marketed occupied. The foreclosure has already been completed for this property. The purchaser is responsible for the eviction process. When viewing the property please do not disturb the occupant. The Seller is the USDA

So, someone lives in the home? And it's foreclosed? Again, I'm no real estate expert, but that seems so odd.

Let's have a look around this home, shall we?

This 5 Bedroom Home is About $40K (But You'll See Why)

If you are in the market for a fixer-upper, I've got the Iowa home for you!

LOOK: Here are the 25 best places to live in Iowa

Stacker compiled a list of the best places to live in Iowa using data from Niche. Niche ranks places to live based on a variety of factors including cost of living, schools, health care, recreation, and weather. Cities, suburbs, and towns were included. Listings and images are from realtor.com.

On the list, there's a robust mix of offerings from great schools and nightlife to high walkability and public parks. Some areas have enjoyed rapid growth thanks to new businesses moving to the area, while others offer glimpses into area history with well-preserved architecture and museums. Keep reading to see if your hometown made the list.