THIS detached house, probably the cheapest in Blackburn, is on the market for just £10,000.
Rope Cottage, off Cheetham Street, is up for auction with the five-figure guide price set by Edward Mellor.
For the price of a luxury cruise, conservatory or even a good quality second-hand car, buyers can get their hands on the two-bedroom property which was sold for £60,000 on January 18, 2006.
The house was built after a former rope works was knocked down, according to residents in the area. It was occupied until two years ago.
It was initially constructed as a temporary home while a neighbouring one was built, but remained occupied for several decades afterwards.
Residents in the area are calling for the house to be demolished as it has extensive cracks and the building is ‘twisting’.
But despite the condition a number of potential buyers have visited the site and told neighbours it could be fixed up and rented out.
Bernard Dickenson, of Higher Bent Gap, said: “My daughter rented the house 15 years ago, it is very cramped.
“It sounds cheap but whoever buys it will have to spend a lot of money on it.
“It needs knocking down and building again.”
Neighbour Rob Flannery, said: “It is not worth the £10,000. It needs to be demolished.
“It’s bending and twisting into the street. It is not fit for living in.
“This area is quiet and nice and the terraced houses nearby have sold for around £70,000.
“If we bought it we’d turn it into a garage or workshed”
Another resident said: “It is cheap for a house. I wouldn’t have thought a detached house would go for that price. It could have an impact on property prices in the area.”
Sue Wolstenholme, branch manager of Bridgeford Estate Agents in Blackburn, said: "I visited the house about ten years ago and had the chance to look inside and it's more like a flat than a house.
“It's a tiny house. It's in a funny spot, tucked away behind other houses. It isn't street fronted and access isn't great. It's only detached by nature, not by size "You can't compare it to other properties because it's so unique and has structural issues."
She added: “The market is buoyant. We sold 22 properties in February and 23 in March. It's all price reflective and we tend to sell more of the lower priced homes.”
Auctioneers Edward Mellor described Lot 1 Rope Cottage as ‘unsafe’ in its catalogue.
Residents said it had been boarded up two years ago after a pipe burst.
They said an old lady had lived in the property, which has a chipboard floor, and it had suffered significant water damage.
Louise McDonald head of auction services at Edward Mellor, said: "In the past many vendors might have disregarded the auction route when it comes to selling property.
“Now though, attitudes are changing.
“Nothing beats the excitement and interest of a property auction and we take great pride in seeing our vendors get deals they previously thought impossible, and buyers get deals that would otherwise be unavailable to them."
Rope Cottage will be auctioned on May 2 at 2pm at Lancashire County Cricket Club.
The owner could not be contacted to comment.