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She\u2019s a bit of a fixer-upper, and that\u2019s just a minor thing \u2014 in the words of those Frozen<\/em><\/a> trolls. Participating in their own version of a Disney<\/a> sing-along, California real-estate agents would like you to believe as much about the heavily damaged house that was listed for just shy of half of a million dollars.\u00a0<\/p>\n This past May, a rental property in Los Angeles County was crushed by a large fallen pine tree<\/a>. No serious injuries were reported, but a neighbor told local outlet KTLA at the time that the crash sounded \u201clike a bomb had exploded.\u201d\u00a0<\/p>\n Located in the city of Monrovia, the property was recently posted on Zillow<\/a> for $499,999 with pictures that show the wreck\u2014complete with rooms without walls and a torn roof. Know your worth, I guess. The property was listed as having one bedroom and one bathroom, but in reality the land the house is sitting on is what\u2019s in demand.<\/p>\n \u201cThe inventory is low and the demand is high, and that\u2019s what\u2019s creating this,\u201d listing agent Kevin Wheeler told Fortune<\/em> of the price. \u201cIt isn\u2019t really dependent on the interest rates going up or down like it would be in a normal, sane situation because the properties along the foothill are just really high in demand.\u201d<\/p>\n He added that he already has offers for $500,000, noting that the area had a \u201crenaissance\u201d around 20 years ago and now boasts a great school system and vibrant town.<\/p>\n Indeed, Monrovia is a hot market with the median sales price of a home topping $1 million, per Redfin<\/a>.<\/p>\n Wheeler told The Los Angles Times<\/a><\/em> that the $500,000 price is low for the area and described the home as having an \u201copen-concept floor plan.\u201d<\/p>\n The housing landscape has become so tight that more than one person contacted the homeowners of the now-famed property with lowball offers for $250,000-$300,000 just days after it was damaged, he added.\u00a0<\/p>\n The lot is described as a \u201cmiracle on mountain\u201d on the Zillow<\/a> listing, referencing the news of its wreckage. Named a \u201cpartial structure ready for new construction or rebuild,\u201d the house was apparently red tagged and a century old.\u00a0\u00a0<\/p>\n As the Times<\/em> noted, the city requires reviews for demolitions to properties more than 50 years old. But Wheeler told the outlet that a review isn\u2019t needed because the damage was caused by a so-called act of God.<\/p>\n For their part, the owners are going to make most of their money from \u201ccarrying the note,\u201d Wheeler told Fortune<\/em>, meaning they will act as a lender rather than a bank doing the main business.<\/p>\n \u201cYou can\u2019t get a normal loan on this,\u201d he said, explaining that mortgage brokers will likely look at the property and say there\u2019s not enough collateral to loan it. <\/p>\n Meanwhile, trees don\u2019t really have to go through bureaucracy, they just fall. That could an incentive for buyers looking to avoid red tape.<\/p>\n The Zillow listing says there\u2019s \u201clots of meat left on the bone for investors,\u201d and a construction loan might not be needed. <\/p>\n \u201cAlready a great location and as Monrovia rezones could this be next,\u201d the Zillow writer almost shrugs. \u201cBuild your dream. It was always destiny.\u201d<\/p>\n<\/div>\n\nExplore our new special issue.\u00a0<\/strong>A Wall Street legend gets a radical makeover, crypto iniquity, misbehaving poultry royalty, and more.\u00a0Read the stories.<\/a><\/div>\n