House blew up and foundation is left - Is this a deal?

[Greg P.]

Hello, today I was offered a piece of land where the house blew up and only the foundation is left. The ARV is $170-180 in the neighborhood. I'm able to pick this up at $7,000. How much does it typically cost to build a home if the foundation is already there? Please advise if this is a deal to go for. Btw, land when available around that area in recent years sold for $70-80k.

Thank you.