Woooow! Allen thats what we call a “tear down”, as in its cheaper to tear it down and start over than to try and salvage it. The water damage alone looks like several thousands of dollars to fix, and the crack houses, those are next door on both side 
Vic, The neighborhood is actually older blue collar. but if you did the math ($600 down, $300/mo for 15 years!), it’s a real “bargain” at just $54.6K! And it’s current tax assessment is a nice fair $61.9K. (THERE is the guy on crack!)…
I emailed an honest appraisal to the equity company that owns it (They’re in San Jose and bought it unseen… no pity) I was told they’ve now decided to try to sell it for about $10K cash… considering it’s on a vertical postage stamp, I’m guessing they’ll end up selling it for a LOT less.
OTOH there is another house (not bad and even habitable!) for sale on the same street just two blocks away that the owners can’t move for half the appraised value, either.
I just posted the link because we all tend to romanticize what the real world looks like.