Priced for a Quick Sale. Now $166K below the appraised value. 1925 Bungalow | .6582 Acre | Walk to Main Street | Priced Below Appraisal. Rare opportunity in the heart of Fredericksburg, Texas—just four blocks from Historic Main Street. This 1925 bungalow sits on a spacious .66-acre lot with mature trees, abundant wildlife, and Winfred Creek behind the property. Inside, you'll find original hardwood floors, high ceilings, large windows, and transoms that bring in natural light—classic character ready to be restored. Priced $116,820 below the Gillespie County Appraisal District value of $611,820, this property offers significant upside for investors, flippers, or buyers looking for a fixer-upper near downtown Fredericksburg. The home does need work, including HVAC replacement and repair of a known ceiling leak, and is priced accordingly. Opportunities like this—large lot, walkable location, and vintage charm—are increasingly hard to find. Bring your vision and unlock the potential. Portion of the lot extends into the creek area—floodplain to be verified. Structure believed to be outside the floodplain.