If you’re in the market for a house in Stockton, Calif., then we have a deal for you! There’s a house for sale there for $25,000.

News 10 in Sacramento reports, “The 600 square-foot home at 815 E. First Street features one bedroom and one bathroom and is the least expensive single family home in the seven-county area served by the Metrolist multiple listing service that doesn't involve a bank-owned or short sale transaction.”

Guess what the annual property taxes are?

$118.

News 10 says the house is “about one-eighth the current median price of a single family home in Stockton.” (Check out the actual listing here)

(If you live in NYC, you'll want to read this post about whether Manhattan's real estate market has finally hit bottom.)

Stockton is located between Modesto and Sacramento, in Northern California. It’s about an hour and a half drive from there to San Francisco, which you can also reach by train.

Why such a low price? We’re not sure about the area this house is in, but Stockton in general faces some significant challenges.

MainStreet recently featured Stockton as one of the most depressed cities in the U.S. and a local group dedicated to community improvement had this to say about their hometown:

“Stockton, CA is on many lists, and it’s pretty well known…but not for the right reasons. We thought being on Forbes “Most Miserable Cities” list was bad…until we became the number one city. That was bad. Not only is Stockton climbing the ladder to notoriety in the business world, but its violent crime rate has now become California’s second highest, right after Oakland.”

So is $25,000 too much?

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