This 10-bedroom New York mansion costs just $50K, but there's a catch

This historic home won't go to the highest bidder.

A central New York city is selling a unique historic Victorian mansion for a surprisingly low price.

Continue Reading Below

The 6,000-square-foot James Seymour Mansion includes 10 bedrooms, three bathrooms and two half baths, according to the listing with real estate agent Michael DeRosa. It's being offered for just $50,000.

The three-story brick mansion was built in 1861 and includes four marble fireplaces. The custom details of the home include a hand-crafted curved staircase, pocket doors, hardwood floors, original woodwork and built-in cabinetry, according to DeRosa. The property is nearly an acre and also includes a two-story carriage house.

"The quality of construction, style of architecture and historical significance contribute to a historic property's value in the same way that an artist, period and provenance influence the value of a work of art," he told FOX Business.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The bargain price comes with some caveats. For one, the home is in need of some work — the city acquired the property last summer through a property tax foreclosure. Also, the city isn’t going to sell to the highest bidder, but to the person with the best plan for the property.

"It's not so much the buyer who offers the best price that is of importance here, it's the buyer with the best intended use and plan to restore this mansion that really matters," DeRosa said.

Anyone interested in buying the James Seymour Mansion needs to include answers to a questionnaire with their offer, detailing how they intend to use the property, how they plan to restore it and what they plan to do after restoration is finished. Anyone interested needs to hurry — offers are due by 5 p.m. Wednesday, Dec. 18. More information about submitting an offer is available on SeymourMansion.com

THIS SPRAWLING $65M ESTATE HAS EVERYTHING YOU NEED TO LIVE OFF THE LAND IN LUXURY

Auburn is located in New York's scenic Finger Lakes region. The city's history includes a role in the Underground Railroad and the invention of film with sound. Notable figures including Harriet Tubman, William H. Seward and Theodor Case are buried there.

Seymour was known for his philanthropy, and he founded both the Seymour Library and the Auburn City Hospital, according to DeRosa. The mansion is eligible for placement on the National Register of Historic Places.

Today, Auburn is home to museums, a theater and a walkable downtown with numerous historic buildings. The city is also situated near Owasco Lake, which is popular for swimming and boating.

"The house is attracting passionate historic home lovers from all over the country," DeRosa said. "It's not only the house that's intriguing to these buyers, it's the beautiful historic city of Auburn that's fascinating to them as well."

CLICK HERE TO READ MORE ON FOX BUSINESS