Burnt Home- why not?

[Oscar Riojas]

My wife and I are complete novice/rookies in REI, but learning as we can. There is a 3/2 SF home burnt down well enough for complete demolition, sitting in a Southeast neighborhood of Houston, TX. The average homes within a mile radius from this property range from $70k-$100k, not a war zone, however, not an up-and-coming area either. HCAD shows tax land value at $25k, and the house was put on the market almost a year ago at $39k. In passing this property often, I am surprised to find it's still for sale- now down to $25k. It sits in front of an elementary school (good/bad?), lot size close to 15k square feet, homes built in the 50's, averaging 1,000-2,000 sq ft. Why does this sound like a good potential deal, and why has it not been snatched up- what am I missing?

Thanks in advance for any help/suggestions!