Getting onto the property ladder is never easy, but a fixer-upper can be a smart way to start if you're not afraid of taking on a big project. While the price tag of this three-bedroom family home in Washington suggests it might be a steal, keen-eyed readers will quickly spot the property’s downside. Read on to take a tour of this tumbledown house that's just hit the market...

There are few more ominous phrases in this life than “sold as-is”. But this full-of-potential property offers a possible bargain to buyers who are unafraid of rolling up their shirt-sleeves (or, even better, hiring a capable contractor). They must be careful, however, not to fall afoul of the laws of gravity.

Located in Everett, Washington, this pastel green, three-bedroom daylight rambler is a treat for nature-lovers, offering unbeatable views of the nearby mountains and valleys. Indeed, there’s little that stands between the house and those breath-taking valleys, as a landslide has left the building on a precipice and, as a result, currently uninhabitable.

Obviously, the prospect of taking a morning stroll about your property and plummeting off a cliff face is something of a deal-breaker. Perhaps this explains why the hopeful vendor knocked $50,000 (£40k) off their initial asking price after the property had spent only 17 days on the market.

That said, given that the median price of properties in Everett is $640,000 (£519k), one can see the appeal of snagging a family home in the area for $199,950 (£162k) – even one in such dire need of attention as this. Costing less than a third of many homes nearby, the property offers a bargain to the courageous home-buyer.

According to the vendor, a Geotech engineer has recommended installing a soldier wall to stabilise the building and allow for its renovation, while the seller is currently in the process of finalising a retaining wall permit for the property with Snohomish County. So reclaiming the building from its current purgatory might not be as tricky as it initially seems.

But why go to the trouble? The building has definitely seen better days. The concrete yard and driveway are mossy and overgrown, while many of its windows are currently boarded up, to dissuade trespassers and squatters. It is hemmed in by wire fences and barriers, to protect the safety of passers-by. You’ll need a healthy imagination to envision the property’s potential.

Beyond its obvious shortcomings, however, the property is a classic single-family American home, just awaiting a little much-needed love and attention. The split-level property is spread across a generous 2,064 square feet, which it divides between three bedrooms, three bathrooms, a family room, a dining room and a utility room.

And once you’ve sorted out that soldier wall and got around to prising the wooden boards off the window frames, you’ll discover that the building is an absolute sun-trap. Its impressive views of the surrounding scenery also offer the best seats in the house for those who love to take in a sunrise or a sunset. Light and airy, it’s the perfect tonic for those tiring of cramped urban living.

Like any classic American suburban home, the property has been built with the motorist in mind. A carport attached to the building offers sheltered parking space for two vehicles, which will ensure cheaper insurance rates than if you were to park on the kerb. Or maybe you’ll have grander visions for the garage – it could be retooled as a hobby room, or a rehearsal space where you can join Washington’s fine musical lineage and start your own garage band.

Overrun with weeds and backing onto a forest, the property’s 0.28 acres of garden could do with a little love, perhaps, but it’s sizeable enough for an owner to shape it into their vision of bucolic loveliness, or for kids to get hours of play out of the space. Just be sure not to throw the frisbee too far towards the cliff edge, or you’ll never see it again.

Everett is only a 28-minute drive to nearby Seattle, where the median house price is currently $790,000 (£640k), an upward trend of 13% year-on-year, so if you’re working in Seattle, this house would be a thrifty purchase. And if you’re not working in Seattle, why not pay the city a visit? We hear the coffee is mighty fine.

Admittedly, the property could hardly be described as “plug-and-play” – there’s a lot that needs to be done to it before it becomes inhabitable. But anyone who wants a low-cost route onto the housing ladder in a city that’s only half-an-hour’s drive from the epicentre of America’s tech industry could do worse than googling “soldier wall” and cueing up a bunch of home improvement YouTubes.

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