Rockport, Texas
Price: $29,900
State of repair: Needs a lot of work
This little one-story was built in 1988, but it has already fallen into a sad state of disrepair. The siding has peeled off in places, the roof needs replacement, and there are plumbing and, naturally, cosmetic issues.
It is located, however, on a lot covered with live oaks that is just a mile from Rockport's Aransas Bay.
Rockport is an attractive vacation land -- it hosts many "winter Texans" -- with excellent fishing, clean beaches and wildlife viewing. Aransas is the winter home of most of the world's wild whooping cranes.
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Last updated March 22 2011: 11:15 AM ET
