This house in the tiny NSW town of Wee Waa could be the cheapest property up for sale in the country with a meagre asking price of $30,000.

The three-bedroom property at 2-4 Empire Place – which includes a home and a separate unbuilt block of land – has been advertised as a bargain for renovation-ready investors.

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(Realestate.com.au)

(The property at 2-4 Empire place is a renovator's delight. Image: Tower & General Wee Waa)

Listing agent David Connell from Tower & General Wee Waa told 9Finance that never in his career has he sold a property for a price this low.

"At $30,000 it's got to be up there as one the cheapest – it's got to be pretty close," said Connell.

"Bearing in mind for that price it's a house and separate block of land, and it's in a town of 1700 people."

(Realestate.com.au)

(The front porch needs some carpentry work. Image: Tower & General Wee Waa)

Connell said that while the property did "need a bit of work", it was not outside the realm of adventurous DIYers.

"It needs a bit of work obviously but not a terrible lot," said Connell.

"Mostly fixing things like broken windows and somebody broke in and threw black paint along the walls and on the floor, so that will need going over.

"But it's waterproof and needs a little bit of carpentry work like a new front porch. Nothing major – if you're a do-er-upper type person and had some skills you could probably do it for $10,000 to $15,000."

(Realestate.com.au)

(Vandals had broken into the property and splashed paint on the kitchen fixtures. Image: Tower & General Wee Waa)

North-west of NSW's New England region, the town of Wee Waa (pronounced wee-war) has a population of 2,080 people and is known as the "cotton capital of Australia".

At 565 kilometres away from the Sydney CBD (approximately a seven-hour drive by car), Wee Waa's property prospects are not all that different from the state's capital which now boasts a median dwelling value of $863,769.

"If somebody did the house up then they could have a rental expectation of around the $180 a week mark," said Connell.

"We've got a good demand for houses – we can never have enough houses in Wee Waa."

(Google Earth)

(Wee Waa, Australia's cotton capital, is approximately a seven-hour drive from Sydney. Image: Tower & General Wee Waa)

Wee Waa's town centre boasts two motels, four schools, a preschool, two caravan parks, a swimming pool and a picturesque nine-hole golf course.