If you want to know how insane the housing market is in the Garden State, take a look at this house that's for sale in Salem County.

Let's start by saying that it has potential.

Honestly, that's about all it has.

138 Jefferson Street in Elmer is listed at $77,432 -- quite reasonable for New Jersey. I mean, the mortgage would be about $420/month. Bargain!

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But before I go any further, I should point out that the listing for this home on realtor.com says, "enter at your own risk."

I'm not joking.

It's a bit of a fixer-upper.

In all fairness, the 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 a quarter of an acre within a minute or two of the Pole Tavern Circle along Route 77, which means you are only about 35 to 40 minutes away 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.

It has potential! See what this $78,000 home in South Jersey looks like

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.

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