You’ll understand better when you start looking into those homes priced in that range. What towns/areas are you looking into? Could be priced lower based on the neighborhood. Could be that there are issues they aren’t advertising.

For example, we bought our house in 2019 (before housing markets went crazy). 2k square footage, needed lots of things done that you wouldn’t see on a search online. It’s a starter home. We paid $350k. Our house is now valued at around $575 due to the housing market insanity. So u/cosmicsurffarmer is correct.