7 Bedroom 4200 square feet house: only $89,900 Deal or No Deal?
 

Granted it's in Detroit but still that is a beautiful house. I'd buy it in a second if I were were in the area.

Built in 1927. Needs an easy 300-500 grand in updates.

Looks like a good house - if you want to live in Detroit. Now is the time to buy... Houses are dirt cheap.

see under :D

:error:error

How is the area?

Link is gone...

still works here

$21/sf...damn!

Good deal but house was built in 1927. Hopefully there's not too much you need to fix...

85 year old house=money pit.

Google street view shows the area to be very nice - I know most neighborhoods in Detroit are abandoned ghettos but this one seems to still be well cared for.

wow, have you checked the pics? the interiors looks more like castle than a house. what a price, where is the buy now by credit card button?

I would hop on that.

It looks pretty well kept from the photos. I bet it is a bitch to heat but other then that. PAAARRRTTTAAAYY!

Would go for a million here

is there really 18,000 houses in that street or are they numbered in a strange way?

Even with old steam heat and NO central air? This is an 85 year old house that will need 300-500 grand in repairs.

holy shits. The CBC this morning said that to qualify as a "luxury" property in Vancouver, the list price needs to be $2mil or above. If that house was in Vancouver, it would be well, well above that price.

Ehhh small lot though on 0.16 acres

It's the gay section of North Detroit.

That would make it a wise investment then.

The gays go into the ghetto, buy cheap, fix it up and then flip the neighborhood to yuppies at a huge premium.

That's what I think is happening in this neighborhood too. If not mistaken Eminem built a studio nearby and wanted to invest in the area.

Looks Ok
 

Looked at Google maps, it's by a nice golf club. The satellite photos show the surrounding area to be the same well kept houses. Does look like their has been some remodeling in the past. really needed pics of the furnace & water heater.

If you read the specs, it' s foreclosure. Either that was owed on it or the bank just wants to take a loss and get it off the inventory. Fact that the people who lost the house didn't destroy the interior, says a lot about it. Should only need plumbing, electrical upgrades. Hard to tell about the roof, but in those days, big houses used slate. Wears forever.

Biggest issue is foreclosures are usually "as-is," cash only sales.

Did it use to be a brothel?

Look at the wall of mirrors in one of the rooms.

Big house, however it looks like it is pretty tired and rundown.

cant believe how cheap is real estate in USA... Really cant believe it.

I remember some webmasters buying their homes back in 2005-2006 for at least 700K or 800K... those houses are now 200K.. CRAZY..

SOLD. :pimp

You guys are all nuts lol.

300-500k in repairs?

Lol you just stupid son..

I thought that room was a dance studio. I can totally imagine a baby grand piano in the sunny corner.

Some updating , some foundation leveling and waterproofing, electricity , plumbing, roofing ( got a quote from 12clicks), cosmetics... maybe 100 K , still a good deal...
But I am sure there is something else attached to that price ... like back taxes ....

:1orglaugh:1orglaugh:1orglaugh:1orglaugh
no where near 300.

Ahh yes, I can see that now - good thinking!

We get it. You are interested and want to scare off competition. :)

You could knock it down and build a palace for that budget by the way, assuming you can build it before somebody steals your materials.

its detoit nuff said..

How long is a piece of string? How much does it cost to renovate? For most just moving in with a few grand on their Lowe's card seems acceptable.

Central air conditioning. I can't live without it. The house has 2 ceiling fans for it's cooling system. The walls and ceiling are in place, where do the ducts go without installing them warehouse style? Or is exposed duct work acceptable to you?

Obviously the steam heating system needs work or a huge wood stove wouldn't be in the beautiful living room. Do you even want steam?

The kitchen? LOL at it.

The foundation/basement .... don't even want to guess.

The roof? 85 years old wood under the slate? What kind of shape is it in? Somewhere it's fucked up.

1927 brick exterior ..... has it been maintained?

Window framing areas? What about the 85 year old windows and frames themselves?

Electricity? Old wiring? Replace it all, period.

Plumbing? If it's cast iron every inch needs replaced so it won't fail after you have remolded the rest of the house.

This list goes on. We haven't touched refinishing hardwood floors, Plaster work, etc.

For those that looked at the kitchen and thought .. "just need a refrigerator" yea I'm an idiot.

Nice jab at Ron :1orglaugh:1orglaugh:1orglaugh

I can only imagine the great school district :helpme

I see a 100 in the kitchen alone .......

Look at the rot around the window photo .....

.