The terraced house has recently installed new double-glazed windows and a gas central heating system but has still ended up at a bargain price.
Set in the former mining town of Tonypandy, Rhondda, Wales, the property comes with a view overlooking the South Wales Valleys – and sellers insist it could be the perfect Christmas present.
They boast the house is close to local amenities – including a popular commuter station – and was previously being let out at £425 per month.
But it is now on the market – and buyers will have to bid at auction next month to get their hands on the property.
The house does need some interior TLC, with the kitchen featuring only the basics.
Painted in cream, carpet needs to be laid throughout.
Paul Fosh, Managing Director of Paul Fosh Auctions, said: “People looking at our catalogue may well think that the £1 reserve is a typo but it’s not. If someone bids £1 and there are no others bidding then the property is theirs.
“The property at this price could well be a shrewd investment for renovation and buy to let.
“The property, which is being sold with vacant possession, has already benefited from some renovation and now requires further modernisation and finishing works.
“It is situated in a well established residential location in the town of Tonypandy which has easy access to a range of amenities and good transport links including a train station.
“We’re expecting to have a lot of interest in the property which, with a reserve price of just £1, must be the cheapest house currently on the market anywhere in Britain.
“Perhaps it could make the ideal Christmas present for that difficult to buy for someone?
“We’ve set the reserve price on instruction from the vendor who just wants a quick sale.
“Ultimately it’ll be the auction floor and those that attend the sale or put in bids over the telephone who’ll decide what this property is worth, taking everything, including renovation costs into consideration.”
The house will be listed at the Paul Fosh auction on Thursday, December 7 at The Park Inn Hotel, Llanedeyrn, Cardiff starting at 5pm.