YOU can't even live on it - let alone build anything on it - but it seems there's still demand for flood prone land a few hundred metres from downtown Lismore.
A small crowd gathered yesterday morning on Currie St, North Lismore, for a lively auction between two bidders who both clearly had designs on the 1.4ha paddock.
The pair battled it out before one bidder edged the hammer price to a respectable $41,500.
Despite plenty of creative ideas readers put forward on The Northern Star's Facebook page, it seems the property will remain in use as horse paddocks.
But that belies its much more interesting history.
According to former owner Kevin Ackerley's surviving brother Darren, Mr Ackerley presided over a veritable oasis on the property when he lived there in the 1990s before his passing seven years ago.
"It was absolutely beautiful," Mr Ackerley recalled.
"This was mowed just like a bowling green," he said pointing across the paddock.
Mr Ackerley said his brother didn't allow horses on his landscaped property.
Instead there was a small orchard of organic fruit trees and a vegetable patch, which have all since died.
Mr Ackerley had paid just $5000 for the parcel back in 1991.
He lived on the property in a caravan with an attached deck and an outdoor bath built into it.
"He always wanted to build on it," his brother said.
Unfortunately, Lismore City Council ultimately evicted him in the late 1990s.
"He never had council approval to live there," Mr Ackerley said.
Both Mr Ackerley's grandparents lived in the area too, one in a house next door to the paddocks.
His other grandparents were famous for owning a home on Terania St which "blew down" in the 1950s during a local storm, which also ripped the roofs off the nearby saleyards.
Luckily they weren't in the house at the time.