Bidding: November 11–13, 2025
Open House: Monday, November 10, 3:00–5:00 PM (No Private Showings)
Auction Website: www.petersonauction.com
Step into a classic early 20th-century country home with this rare restoration opportunity in the quiet village of Panama, New York. Featuring 1,728 sq. ft., four bedrooms, and a spacious 30′ x 36′ barn, this property is perfect for investors, renovators, or anyone seeking a project with historic charm and potential.
Selling “AS IS, WHERE IS,” this property is available exclusively through online bidding from November 11–13, 2025.
Property Highlights
- Square Footage: 1,728 sq. ft.
- Bedrooms/Baths: 4 bedrooms, 0 bathrooms (outhouse on-site)
- Barn: 30′ x 36′ rear barn – storage, workshop, or creative conversion potential
- Utilities: Natural gas furnace (status unknown), 60-amp electrical fuses; no water/sewer connections
- Condition: Full renovation required; sold AS IS
Interior Layout
First Floor:
- Kitchen: Includes two small storage rooms for pantry or cold storage; ideal for a country-style redesign.
- Dining Room: Adjoining the kitchen, perfect for family gatherings or entertaining after renovation.
- Living Room: Spacious and full of vintage character; accommodates a wood stove or fireplace.
- Den/Office: Flexible space for a home office, study, or reading nook.
- Bedrooms: Two main-floor bedrooms ready for transformation into guest rooms or master suite.
- Covered Front Porch: Offers a charming outdoor sitting area with yard views.
Second Floor:
- Two additional bedrooms and a partial attic. Bedrooms can be modernized, and attic offers storage or expansion potential.
Basement:
- Partial basement with stone foundation and concrete floor. Houses a natural gas furnace. Electrical system is limited and may require upgrades.
Exterior Features
- Painted wood siding and shingle roof, reflecting classic rural design.
- Stone foundation with historic character; some areas may need repair.
- Open yard with room for gardens, outdoor living, or small livestock.
- Barn: Versatile space for storage, workshop, studio, or guest accommodations.
Restoration & Investment Potential
This property is ideal for buyers with vision and creativity:
- Full Renovation: Restore as a charming country home or Airbnb retreat.
- Historic Preservation Project: Hands-on restoration of early 20th-century craftsmanship.
- Investment Opportunity: Rehab for resale or rental income.
- Creative Workspace: Home and barn conversion for workshop, studio, or event space.
- Land Development: Maintain barn or original façade while adding new structures.
The property offers tremendous creative freedom, perfect for those who appreciate vintage woodwork, original framing, and historic detail.
Auction Details
- Bidding Opens: Tuesday, November 11, 2025
- Bidding Closes: Thursday, November 13, 2025
- Location: Online only at Peterson Auction
- Open House: Monday, November 10, 3:00–5:00 PM (only chance to view the property)
All inspections and due diligence must be completed during the open house. Buyers are encouraged to thoroughly evaluate the property before bidding.
Location – Panama, New York
Nestled in Chautauqua County, Panama offers peaceful rural living while remaining within driving distance of local towns and amenities. Nearby attractions include:
- Panama Rocks Scenic Park: Hiking and striking rock formations.
- Chautauqua Lake: Boating, fishing, and recreation.
- Chautauqua Institution: Cultural and educational events.
- Local shops and diners with small-town charm.
Summary
This historic 4-bedroom home and barn at 24 South Street represents a rare restoration opportunity in rural Western New York. While the property requires extensive repairs and modernization, it offers a solid foundation and unmatched creative potential.
Bring your vision, tools, and imagination — and transform this piece of Americana into a unique home, rental, or creative space.
Remember: The property is sold AS IS, WHERE IS with no warranties or guarantees. Inspect thoroughly and bid accordingly.
Bid Online: November 11–13, 2025 at www.petersonauction.com
Listed on Zillow
