If you're looking at buying a home here in South Jersey and you are stressed out over sky-high asking prices, here's some good news: the price of one of the cheapest homes for sale in our area has been reduced.

But before we go any further, let me caution you that it's a bit of a fixer-upper.

You're gonna need some tools. And the ability to pretty much reconstruct an entire house. But it has potential and you can make it anything you want it to be!

138 Jefferson Street in Elmer, Salem County, was listed at $77,432 -- quite reasonable for New Jersey -- and now it's down to $74,999.

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That means if you put 15-percent down, your mortgage payment could be under $500/month.

Now the catch: the listing for this home on realtor.com says, "enter at your own risk."

This house is over 120 years old and it appears that at some point some work started on reconstructing it, but for whatever reason, that didn't last long. However, the listing also says, "seller has and paid for architectural rendering for a beautiful 4 bedroom, 3 story farm house," so at least you have something to work with.

And it sits on almost a half-acre of land that's within a minute or two of the Pole Tavern Circle along Route 77, which means you are only about 35 to 40 minutes from Wilmington or Philadelphia.

If you like a challenge, are good with your hands, enjoy a good project, or are looking to flip a property, this really might be just what you are looking for.

This home is presented by Johnny Jones with Keller Williams Realty-Marlton, should you want to schedule a tour.

Price Reduced on One of the Cheapest Homes For Sale in Southern NJ

It's a bit of a fixer-upper. And the listing actually says, "enter at your own risk." Let's take a look inside 138 Jefferson Street in Elmer, Salem County.

10 People Were Murdered in This One South Jersey House

This 288-year-old home in Hancock's Bridge, Salem County, has quite a story. As many as ten people were brutally murdered here on the same day in 1778.

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