Is This Dilapidated Tacoma Home A Goldmine?

TACOMA, WA - We usually feature houses in this column that are spectacular in some way, either for architecture, Puget Sound views, or price. Obviously, this abandoned home in Tacoma is not spectacular. In fact, it's probably a health and safety hazard. But from an investment perspective, you might be looking at a future goldmine.

The house sits on relatively large 1/4 acre of land within sight of I-5 and very close to downtown Tacoma. Add to that, the median home value in Pierce County has increased 10 percent over the last year, and is projected to increase another 4-1/2 percent over the next year. On top of that, home price increases in the Seattle area are pushing buyers and renters south. In fact, talk of "Is Tacoma the new Seattle?" has been heating up in line with home prices in Seattle.

Just this week, the well-regarded Case-Shiller index of home prices measured Seattle's median home price at $435,000 - the highest median price ever. And we can almost guarantee homes in Seattle close to transportation and the downtown area are not going for $435,000.

You might be scoffing now, but check back in five years and see what's going on with this property. Here's more from Realtor.com:

• Address: 1438 E Morton St, Tacoma, Washington
• Price: $80,000
• Square Feet: 1176
• Bedrooms: 0
• Bathrooms: 0 Baths
• Built: 1919
• Features: Perfect opportunity to snag almost + acre in Tacoma and build from scratch, just off Portland Ave, and close to I-5. Value in Land

This listing originally appeared on realtor.com. For more information and photos, click here.

Images via Realtor.com