The guide price on the four-bed disused property in Nunthorpe, which is accessed via Church Street, is £415,000 and it will be sold via a live online auction on Thursday October 28.
The house, which is being sold by estate agent Michael Poole, is lot number 80 at the Agents Property Auction and the selling will start at 11am with bids starting 24 hours before.
Middlesbrough Council will be hoping for more than the guide price as it said in August that it would be placing a reserve price of £460,000 on the property.
On the ground floor of the farmhouse, there is an entrance hall, living room, dining room, kitchen, utility room, office and a cloakroom/toilet.
If you go up to the first floor there are four bedrooms – the largest bedroom has an ensuite – and there is a separate family bathroom.
There are also a number of outbuildings spread across the 2.3-acre site.
The council agreed to sell the property at the executive meeting on August 10 as it has been vacant since 2018 when the last tenant vacated.
Speaking at that meeting, Mayor Preston said: “It sounds like there are three benefits to this. One is that an eyesore, that has been empty for three years, and I understand is currently boarded up, is going to be dealt with.
“Secondly, it will bring some revenue for the council, which is great, but, as importantly, it will bring some revenue for the local community, because if this sells above our value then there will be a 3 per cent contribution to the local community”.
The mayor had previously agreed that the people of Nunthorpe will receive a 3% contribution if the council sells its own land for development, providing it was in the Local Plan and the sale is near/above the target price.
However, there are tight restrictions around the development of the farmhouse and the outbuildings.
The council has stated that there will be a restrictive covenant on the area which will mean the house can only remain as a single dwelling to stop developers from creating separate houses or apartments.
There were concerns that the farmhouse would become a target for vandalism and anti-social behaviour if it were not sold.