Derelict Surry Hills terrace on the market for $1.85m.

This four-bedroom inner-city terrace looks like it could be from a horror film but you wouldn’t know it from the price tag.

The completely dilapidated Surry Hills dump is on the market with a price guide of $1.85 million.

102 Reservoir Street Surry Hills has hit the market with a price guide of $1.85 million. Picture: BresicWhitney/realestate.com.auSource:Supplied

The walls are mouldy and crumbling, the floors are ripping up, the courtyard is neglected and the bathroom and kitchen look barely usable.

It is rusting and falling apart but it is on the market for almost $2 million. That’s approximately 23 times the average salary in Australia and more than double the median house price in Sydney — which is $895,000, according to CoreLogic’s latest Home Value Index.

The walls are peeling and crumbling. Picture: BresicWhitney/realestate.com.auSource:Supplied

And that’s not including the amount of money the buyer will need to put in to completely renovate it to make it liveable, at the very least.

The online listing even describes the home as “dilapidated”. Picture: BresicWhitney/realestate.com.auSource:Supplied

Even the online listing isn’t trying to beat around the bush, describing it as “dilapidated enough to deter any dreamers”. Only serious renovators with “some muscle and big ideas” need apply.

But as they say, it’s all about location, location, location. And this two-bathroom terrace is situated in a prime spot in the lush and convenient Surry Hills, just minutes from Central Station and surrounded by some of Sydney’s most well-known pubs.

The faux timber laminate flooring is bubbling and starting to lift. Picture: BresicWhitney/realestate.com.auSource:Supplied

According to realestate.com.au sales data, the median house price of a four-bedroom home in the suburb is $2.25 million.

This brand new four-bedroom, three-bathroom terrace on Prospect Street in Surry Hills sold earlier this month for $2.87 million.

1/51-53 Prospect Street Surry Hills sold for $2.87 million in March. Picture: BresicWhitney/realestate.com.auSource:Supplied

And this renovated four-bedroom, two-bathroom terrace on Riley Street in Surry Hills sold for $2.31 million in February.

The revamped 432 Riley Street Surry Hills sold for $2.31 million in February. Picture: BresicWhitney/realestate.com.auSource:Supplied