A 1935 stone fixer-upper on 4.32 wooded acres with an in-ground pool, pond, and 36×56 pole barn in New Paris, Ohio, offered as a Fannie Mae HomePath property for $258,000.
Fixer-upper alert.
In New Paris, Ohio, a stone house built in 1935 sits on more than four wooded acres with a pond, an in-ground pool, and a large pole barn. It has a front porch, an arched doorway, a stone fireplace, French doors, and wood floors.
It also looks like it has been through something. This is a project property, and it is owned by Fannie Mae.
For buyers who can see past the condition, the combination of land, character, and outbuildings at this price is worth serious attention.
Here is a closer look at the home, what buying a HomePath property involves, and what to check before making an offer.
Property Overview
- Price: $258,000
- Location: New Paris, Ohio
- Bedrooms: 4 (including a first-floor primary bedroom)
- Bathrooms: 4
- Living space: Approximately 2,880 square feet
- Year built: 1935
- Lot size: 4.32 wooded acres
- Exterior: Stone
- Interior highlights: Arched doorway, built-in corner cabinet, stone fireplace, French doors, wood floors
- Rooms: Multiple living spaces, dining room, study
- Basement: Full basement with walkout
- Garage: Built-in 2-car side-entry garage
- Outdoor: In-ground pool, pond, circular driveway, front porch
- Outbuilding: 36×56 pole barn with concrete floors
- Sale type: Fannie Mae HomePath property
- Condition: Project property, needs work
A Stone House From 1935
Stone homes from the 1930s have a solid, timeless presence.
They were built with heavy materials and careful craftsmanship, often with details like arched doorways and built-in cabinets that give them real personality.
The stone exterior is one of the strongest features of this house. Stone walls hold up well over decades, even when the rest of a home has been neglected.
The Stone Exterior
The stone itself is likely in better shape than many other parts of the house. The mortar between the stones is what usually needs attention.
Look for cracked, loose, or missing mortar. Repointing is common with older stone homes and should be done by a mason who understands historic masonry.
Also look at the areas where stone meets wood, such as window frames, porch connections, and the roofline. Water often enters at these points.
What “Been Through Something” Might Mean
The home is clearly being sold as a project.
Homes that have been vacant or neglected can show many kinds of wear. Common issues include water damage, roof leaks, mold, damaged drywall or plaster, missing fixtures, broken windows, and frozen or burst pipes.
Some properties have experienced fire or storm damage. The only way to know what this house needs is a thorough inspection.
Go in expecting work, and treat the inspection as the most important part of the purchase.
The Front Porch
A front porch welcomes visitors and offers a place to enjoy the wooded setting.
Check the porch floor, steps, posts, and roof for rot or settling. Porches often show neglect first.
The Arched Doorway
An arched doorway adds charm and architectural interest.
Arches were a popular feature in homes from the 1920s and 1930s. They soften the lines of a room and give the interior a storybook quality.
These are the kinds of details worth preserving during renovation.
The Built-In Corner Cabinet
A built-in corner cabinet adds both storage and character.
Corner cabinets were often used in dining rooms to display fine china. Original built-ins are increasingly rare and add value to older homes.
Even if it needs refinishing or new hardware, it is worth keeping.
The Stone Fireplace
A stone fireplace anchors one of the living spaces.
It ties the interior to the stone exterior and gives the home a warm focal point.
Before using it, have the chimney and fireplace inspected. Homes that have sat empty can have blocked flues, damaged liners, or animal nests in the chimney.
French Doors and Wood Floors
French doors bring in natural light and connect rooms with style.
Wood floors run through parts of the home. Even if they show damage, original hardwood can often be sanded and refinished. Look for water damage, which can make some boards impossible to save.
The First-Floor Primary Bedroom
The primary bedroom is on the first floor.
This is a big advantage for long-term living. Owners can live mostly on one level while the upstairs bedrooms serve kids or guests.
The Upstairs Bedrooms
Three more bedrooms are on the second floor.
That gives the home four bedrooms in total, plenty for a family or for guest rooms and offices.
The Bathrooms
The home has four bathrooms, according to the listing details.
Four bathrooms in a four-bedroom home is a strong ratio. In a project property, though, bathrooms are often where the biggest repairs are found. Check for leaks, damaged floors, missing fixtures, and plumbing that may have frozen.
Multiple Living Spaces, Dining Room, and Study
The home has multiple living spaces, a dining room, and a study.
This layout offers flexibility. One living area could serve as a formal sitting room, another as a family room. The study could become a home office, library, or homeschool space.
The Kitchen
The listing does not describe the kitchen.
In a project property, buyers should assume the kitchen may need significant work. Plan for possible new cabinets, counters, appliances, and updated plumbing and electrical.
The Full Walkout Basement
The home has a full basement with a walkout.
A walkout basement offers natural light and direct outdoor access, which makes it much more usable than a typical basement. It could become a recreation room, workshop, guest suite, or extra living area.
Basements in vacant homes need careful inspection. Look for standing water, mold, foundation cracks, and signs of past flooding.
The Built-In Garage
A built-in two-car side-entry garage adds convenience.
Side-entry garages keep the front of the home looking clean and classic. Check the garage door, opener, and floor condition.
The In-Ground Pool
The property includes an in-ground pool.
A pool on a private wooded lot is a rare feature. Restored, it could become the centerpiece of summer life.
In a project property, though, the pool likely needs work. Pools that sit unused can develop cracked shells, failed liners, broken pumps, and damaged plumbing.
Have a pool professional evaluate it before you finalize your budget. Repairs can range from simple cleaning to major restoration.
The Pond
A pond adds beauty and draws wildlife.
Depending on its size and health, a pond can be used for fishing, wildlife watching, or simply as a peaceful view.
Ask about the pond’s depth, water source, and condition. Some ponds need dredging or algae control over time.
The 36×56 Pole Barn
A 36 by 56 foot pole barn adds more than 2,000 square feet of space.
It has concrete floors, which makes it much more useful than a dirt-floor barn. It could hold vehicles, tractors, boats, campers, or become a large workshop.
Check the posts, roof panels, doors, and any electrical service.
The Circular Driveway
A circular driveway makes arriving and leaving easy.
It also provides extra parking for guests and adds to the estate feel of the property.
The 4.32 Wooded Acres
The home sits on 4.32 wooded acres.
That is enough land for real privacy. Trees screen the home from the road and neighbors, and there is room for gardens, trails, and outdoor projects.
Walk the property to see how much is wooded, open, or sloped, and where the pond and pole barn sit in relation to the house.
What Is a Fannie Mae HomePath Property
This home is listed as a Fannie Mae HomePath property.
That means it is owned by Fannie Mae, typically after a foreclosure. Fannie Mae sells these homes through real estate agents, and offers are usually submitted through the HomePath website.
HomePath homes are generally sold as-is. The seller usually does not make repairs and may have limited knowledge of the home’s history.
Fannie Mae often gives owner-occupant buyers an early window to make offers before investors can. Buyers who plan to live in the home should ask their agent about this period.
Some HomePath programs have offered closing cost help to eligible owner-occupant buyers who complete a homebuyer education course. Ask your agent what is currently available.
Buying a HomePath Project Property
Buying from Fannie Mae is different from buying from an individual seller.
Expect standard addendums and paperwork. Expect limited disclosures. And expect the property to be sold in its current condition.
Utilities may be turned off in vacant homes. Ask your agent whether they can be turned on for inspections, since inspectors need power and water to test systems properly.
About New Paris, Ohio
New Paris is a small village in Preble County, in western Ohio near the Indiana border.
The area is rural and quiet, with farmland and small towns. Richmond, Indiana, is only minutes away, offering shopping, dining, and services. Dayton is under an hour’s drive.
For buyers who want country living within reach of a city, the location offers a good balance.
Living Here as an Owner-Occupant
For a family willing to take on a project, this property could become something special.
Restore the stone house, bring the pool back to life, fish in the pond, and use the pole barn for work and hobbies. Over time, the property could transform into a private country estate.
Many buyers renovate in stages, starting with essential systems and moving to cosmetic updates later.
Investor Potential
Investors may see opportunity in the low price compared with the size of the house, land, and outbuildings.
A full renovation could produce a strong resale property. The pole barn and acreage add appeal for buyers who want space.
Run the numbers carefully. Renovation costs for project properties can grow quickly, especially when water damage or mold is involved.
Possible Projects and Improvements
- Repair or replace the roof if needed
- Update electrical, plumbing, and heating systems
- Remove any mold and repair water damage
- Refinish the wood floors
- Restore the stone fireplace and chimney
- Remodel the kitchen and bathrooms
- Repoint the stone exterior
- Restore the in-ground pool
- Clean and maintain the pond
- Finish part of the walkout basement
- Run power to the pole barn for a workshop
Financing Options
At $258,000, this property falls well within conventional and FHA loan limits.
Because it is a project property, financing depends heavily on condition. FHA, VA, and USDA loans all require homes to meet minimum property standards. If the house has major issues, those loans may not work until repairs are made.
Renovation loans may be the best fit. The FHA 203k loan rolls the purchase price and repair costs into one mortgage. The Fannie Mae HomeStyle renovation loan does the same through conventional lending.
USDA loans cover many rural parts of Ohio, but the home must meet condition standards.
Cash buyers have the simplest path on a HomePath project home.
Insurance
Insuring a vacant or damaged home can be challenging.
Some insurers will not write standard policies on homes that need major repairs. A vacant property policy or builder’s risk policy may be needed during renovation.
The pool and pond add liability considerations. Ask about fencing requirements and coverage limits.
Get quotes early so there are no surprises before closing.
Questions to Ask Before Buying
- Can utilities be turned on for inspections?
- Is there any known fire, water, or storm damage?
- How old is the roof?
- What type of heating system does the home have, and does it work?
- Is the home on a well and septic system?
- Has the basement had flooding or water issues?
- What condition is the pool in?
- Does the pole barn have electricity?
- Are there any code violations or permits open with the county?
- What are the annual property taxes?
- Is there a recent survey of the 4.32 acres?
- Has the home been tested for mold, lead paint, or asbestos?
Inspection Is Essential
For a HomePath project property, a full inspection is essential.
Start with a general home inspection. Add a roof inspection, a mold assessment, and a chimney inspection. Have the electrical, plumbing, and heating systems tested if utilities can be turned on.
For a rural property, add a well water test and septic inspection. Have the pool inspected by a pool professional.
A sewer or septic line camera inspection and a foundation check are also wise in homes that have sat vacant.
Use every inspection result to build a realistic renovation budget.
Lead Paint and Older Materials
Homes built before 1978 may contain lead-based paint.
A 1935 home may also contain asbestos in pipe insulation, flooring, or other materials. Test before starting renovation work, and hire contractors trained in safe removal.
The Price in Context
At $258,000, buyers get a stone house of nearly 2,900 square feet, four bedrooms, four bathrooms, a walkout basement, a two-car garage, an in-ground pool, a pond, a 36×56 pole barn, and more than four wooded acres.
That is a lot of property for the money. The trade-off is the work. Renovation costs could be significant depending on what the inspection reveals.
Compare recent sales of renovated homes with acreage in Preble County to understand what the finished value could be.
Who This Home Is For
This property suits buyers with vision, patience, and a renovation budget.
It works for families who want land, a pool, and outbuildings and are willing to do the work. It works for experienced renovators and investors. It also suits people who love older stone homes with character.
It is not for buyers who need a move-in ready home.
Final Thoughts
This 1935 stone home in New Paris has seen better days. But under the wear is a property with remarkable potential.
A stone exterior, an arched doorway, a built-in corner cabinet, a stone fireplace, French doors, and wood floors. Four bedrooms, four bathrooms, and a walkout basement. A pool, a pond, a pole barn, and 4.32 private acres.
Inspect thoroughly, budget carefully, and understand the HomePath buying process. For the right buyer, this fixer-upper could become a true country estate.
View the full listing on Zillow: Stone Home on 4.32 Acres, New Paris, OH
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