The only affordable property in NYC! Four-bedroom abode for sale for $110,000... but there's a catch!

New York real estate is eye-wateringly expensive - but there is one bargain up for grabs if you are willing to make a few concessions. 

The average home in New York now costs $746,000, according to Zillow.

Yet one new property in Rockaway, Queens, has just hit the market at $110,000 - and it even comes with a waterfront view.

The only catch is that the two-story house that boasts four bedrooms, three bathrooms, wood stove and a full-size kitchen is actually in the water. 

The wooden paneled houseboat, currently docked at Marina 49 in the Queens neighborhood of Arverne, was listed earlier this month on Facebook Marketplace. 

The boat was built sometime in the early 1980s and, according to the listing, 'has had quite the life'.  

This houseboat is going for $110,000 and has four bedrooms, three baths

The wooden paneled houseboat, currently docked at Marina 49 in the Queens neighborhood of Arverne, was listed earlier this month on Facebook Marketplace

 The owner admits that it's a bit of a fixer upper in certain areas, including the bathrooms, the railings and potentially the wood siding of the boat

The view from the of the water from the houseboat

'From housing the crew of a famous sloop to surviving Hurricane Sandy and having editorials and TV shows filmed on it (High Maintenance on HBO), this historic barge has seen it all,' the listing continued.

Buyers will need to bear in mind the cost of much needed repairs are not included in that attractive $110,000 price tag.  

Potential buyers are told in the listing that the bathrooms, railings and 'potentially' the siding all need updating.

Docking fees of about $2,100 might also scare some buyers away - but perhaps not - given the average rent in New York City is $3,760 a month. 

Still, the owner wrote that with 'a little TLC it can be your dream beach home for a fraction of the cost of a “land home.”' 

At one point the boat was called 'Lucille II,' according to an Instagram page dedicated to its renovation. 

The boat has two upper decks, perfect for its party days in Rockaway Beach 

The kitchen, which is adjacent to the living room

The kitchen leads out toward an outdoor deck

The wood stove in the living room

An article from 2018 revealed that two cofounders of Brooklyn design company scraped up the money with friends to buy the badly beaten-up boat and renovate it into the hip party vessel it eventually became. 

The group hired a company to pull it all the way from where they bought it - in Saugerties - down to Rockaway Beach where it sits to this day. 

The boat has since changed hands, and DailyMail.com reached out to the current owner for comment.

This listing is getting the rush of attention, proving the real estate landscape of New York City is possibly unlike anywhere else in the country.

Two cofounders of Brooklyn design company scraped up the money with friends to buy the badly beaten-up boat and renovate it

The boat has since changed hands, and the current owner is putting it up for sale

The boat was built sometime in the early 1980s and has had quite the historic past according to the owner

A 2023 report from the National Association of Realtors said the middle class cannot afford roughly 75 percent of the listings available.

But New York City is on another level.

A whopping 67% of home purchases in Manhattan were all cash, while the average purchase price was $2 million, DailyMail.com reported in January.

But while this cheaper option might prove tempting, just be sure you aren't prone to seasickness.