At $85,000, is this one of Australia's most-affordable family homes?

Is this one of Australia's most achievable first-home family buys?

Rising interest rates, soaring property prices and low listings have made some Aussies question whether they will ever become first-home buyers.

However, an agent has pitched the $85,000 four-bedroom, one-bathroom weatherboard home in the country town of Coonalpyn in South Australia as an "affordable" option.

On 1149 square metres, the property at 32 Peake Terrace requires TLC but has the bare bones in place.

Listed by Alastair Johnson of Spence Dix & Co Property, the home has also been angled at investors or renovators that are keen to "buy, improve and flip", given the farming district has a shortage of housing.

"With a little bit of vision and work, you can turn this house into a very comfortable home," Johnson says on the listing.

The home is situated on a large block with a shed for storage.

The timber floors could do with a revamp along with the stained carpet and some missing kitchen cabinetry.

Coonalpyn, which has a tourism industry and is known for its enormous silo mural, is experiencing a rental shortage for agriculture workers, the listing explains, offering the possibility of a return.

Sheep, cattle, wheat, barley, canola, beans and peas are farmed in the region, about 143km south east of Adelaide.