I decided to drive by the place to see what condition it was in and check out the area. The neighborhood is pretty decent, but there are two large places that look to be abandoned.
Anywho, the biggest problem with a lot of the old houses out here are that they were built with very low ceilings, like 6'5 low, which makes it seem cramped for us 6' + tall people. So I think I will rule this one out, even though the lot is huge.
The good news is, the lot right next to it (outlines in blue) has gone up for sale, vacant lot, 1 acre, and they just dropped the price by $20,000... The question becomes, can I afford to have a new house built (building costs out here are crazy right now, we are having another building boom so construction crews are in demand again).
But the corner lot would be perfect to build a nice 2,500 sq ft shop / garage out back and not have to access it from the front. Time to count my pennies and see if I can't make something awesome happen.