15 Houses In Detroit You Can Buy For Less Than $500

[FarCenter]

Detroit's fallen on hard times.

But we know you're familiar with that chestnut about crisis and opportunity.

Via Realtor.com, here are 15 properties that are on sale for $500 or less.


Read more: http://www.businessinsider.com/15-houses-you-can-buy-in-detroit-for-500-or-less-2013-7

[MrSlayer]

1. Good luck living there.

You'll end up as someone's dinner.

It's like Escape from New York.

[kestrel91316]

2. They have no doubt been gutted and stripped of everything but the framing.

They give the term "fixer-upper" a whole new meaning.

[Liberal_in_LA]

3. They need about $30K in work.

[flvegan]

4. Be sure to get a title search done. n/t

[Lurks Often]

5. And how much will you have to spend on them to make them habitable?

Some of them seem to have been abandoned for a while now and appear to have the windows smashed. What other damage is present?

[NoOneMan]

6. Doze em and plant a community garden/orchard

Well worth the money if you had the time

[FarCenter]

7. The city is bulldozing them. Others just decay

During the 2010 census, census takers would go to addresses and either nothing was there, or there was just an uninhabitable shell like these.

[NoOneMan]

9. Well, they should plant some trees when they do that

[FarCenter]

11. You want a clear field of fire, not cover.

[PoliticAverse]

8. And are there any back-taxes due on these properties ? n/t

[angstlessk]

13. Back taxes are paid by the seller..unless it is the city

[madaboutharry]

10. The house on Normile Street

had a fire. It is so sad. They were once probably lovely homes.

[angstlessk]

12. We paid $5,000 cash for a perfecly habitable home on a street that is one street long

It had many cosmetic failures...but had running water and heat...we bought it sight unseen because our home in VA had a balloon (predatory loan) due...I saw photos of the home and the only thing it did not show was the stairway to the second floor, and the first thing I asked is "does it have a stairway"..the stairway is VERY robust...

We drove the largest truck with a pickup truck on the trailer for days till we got to Detroit..and we drove through neighborhood after neighborhood and PRAYED we were not going to live 'there'...until we reached our destination..and fell in LOVE with our house...now our home.

Homes in Detroit were well built..some were stripped of all, but if you can find one ready to move in...and affordable...you got a gem!

I completely renovated the kitchen...it had missing drawers and cabinet fronts, which I bought online...which I turned white with black fixtures and the counter top to a faux granite counter top...it turned out BEAUTIFUL...took weeks, but well worth it!

[SoCalDem]

14. I fell in love with this one

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x7799067

[SoCalDem]

15. It sold for a measly 71,111.00 in 3 days

http://www.zillow.com/homedetails/63-Virginia-Park-St-Detroit-MI-48202/88127101_zpid/

and is now an REO (with changed details)

[angstlessk]

17. That is close to our home...just over John Lodge Freeway

I do believe the old homes that are almost mansions are being refurbished..BUT the taxes are HORRID!

[angstlessk]

16. Another thing about the corruption in Detroit

Real Estate agents do VERY LITTLE for you....I had to go to city hall to get all kinds of paper work done to purchase the house..in VA the agents would have done all that leg work...and when there, a person helped me go through the labyrinth then put an envelope in my hand for me to show my appreciation!!!!!!!

When we got here we waited for the electric company to come and cut on our electricity..turns out we had 'free' electricity since we were here..but never thought to cut on a light since it was not turned on...AND...there was a fork because some fool had not used a long enough wire so used a fork to connect the wire to the home electric!!!!!!!!! AND when the electric company came to put on our meter...not a problem..the fork was just fine!!!!!!!!!!!!!! But when a tree branch fell and cut the wire..we needed to hire a company to make the real connection...I WAS RELIEVED!..that fork scared the hell out of me!

OH and people must have some way to cut on water that's been cut off..cause they put ROCKS in the well of the water cut off..and have SPECIAL TRUCKS TO COME AND BLOW THE ROCKS OUT!!!!!!!!!!!!!!!!

Not sure if other cities have similar problems...but Virginia certainly does not!