Where? Coolavally, Castletown, Cross, Co Mayo.

What is it? An old two-storey, three-bed stone house on 1.5 acres outside Cross village and near Lough Corrib, in need of complete restoration.

How much? Originally €120,000, now €95,000.

What needs doing? "This house needs complete refurbishment," says selling agent Adrian Burke. It's a shell in need of everything from new floors to roof, plumbing, re-wiring, insulation, heating, windows, joinery and plastering.

Profit potential? "You could re-do the original three-bed stone house for €150,000-plus depending on the fit-out," says Burke. Overall expect to pay out around €270,000 between buying the property, restoring it and furnishing it. Burke says homes in good condition in this area sell for between €350,000 and €400,000 as it's only a 40-minute commute to Galway city. Potentially you could make €80,000 -to €130,000 profit.

Agent: Adrian Burke Auctioneers 094-954 2800.