Just around six decades ago, the city of Detroit was considered the richest in the country and probably even in the entire world. This was during the time when manufacturing was at its peak, with factories churning out cars that powered the United States and helped shape the map of a modern nation.
However, that was then and this is now. The automobile industry has fallen on hard times, and though recovery measures have been undertaken, the car manufacturers are far from being revived that would help save the city. Up to 40 percent of the streetlights do not even work anymore because the city has no money to keep them in operation. The city is insolvent and last July 18, it declared bankruptcy, making it the largest-ever municipal failure in the United States.
It has the lowest median household income among the 30 largest cities. As a result, up to 78,000 structures and 6,000 lots have been abandoned by its owners. Some have resorted to selling their homes at rock bottom prices.
Here now is a list of the cheapest houses in Detroit in 2013 as of August 20. This only includes houses that are actually for sale; houses that are up for foreclosure and auction are excluded.
10. 8037 Stockton St. – $200
This house on 8037 Stockton St. sits in an area that measures 3,484 square feet. The house itself measures 864 square feet. It has three bedrooms and a single toilet and bath. The house has been previously estimated to cost about $35,482. It is now for sale for a mere $200, with an estimated mortgage of only a dollar per month.
9. 3049 W Grand St. – $200
Just a month ago, this house that had an original estimate of $33,528 was already being sold for only $300. There have still been no takers, thus forcing the hand of the seller to cut it further to $200. The house sits on a lot measuring 4,356 square meters, with the house itself measuring 1,080 square meters. It has three bedrooms and a single toilet and bath. At only $200, the estimated mortgage is only $1 per month.
8. 12115 Woodmont Ave. – $200
This house along Woodmont Ave lies on a spacious property measuring 4,356 square feet. The house itself measures 693 square feet. It has three bedrooms and one toilet and bath. The house had an original estimate of $32,557, but it is now being offered for only $200, with an estimated mortgage of only $1 per month.
7. 11098 Chelsea St. – $150
Just a couple of weeks ago, this house along Chelsea St. was being offered for only $325. The demand has been so low that the seller has been forced to further cut the price to $150. This is a far cry from the original estimate of the house and property at $32,004. The house has a couple of bedrooms and one toilet and bath, with a floor area of 744 square feet and lot size of 4,356 square feet. The estimated mortgage if you purchase this property is a dollar per month only.
6. 3047 Parker St. – $150
This house in Parker St. sits on a generous lot size of 6,534 square feet, while the house itself measures 1,344 square feet. It has a couple of bedrooms and a single toilet and bath. The house was estimated before the crisis to be worth at around $35,842. It is now for sale for only $150, with an estimated mortgage of only a dollar per month.
5. 4399 Parkinson St. – $100
The owner of the house himself is selling this house along Parkinson St. for only $100. If one still needs to finance it through the bank, then the estimated mortgage per month is only $1. The house sits on a lot that measures 2,613 square feet, while the house itself measures 1,560 square feet. It has five bedrooms and a couple of toilets and baths. Before the hard times, the house was estimated to cost $41,073.
4. 14678 Mapleridge St. – $100
This house sits on a huge property that measures 5,662 square feet, though the house itself measures only 672 square feet. It used to have a value of $32,036 before the crisis, though it is now being sold at only $100, with an estimated mortgage of only $1 per month. The house has a couple of bedrooms and just a single toilet and bath.
3. 9384 Petoskey Ave. – $100
The house along Petoskey Ave used to have a value of $32,263. Recently, times have fallen so hard that it was being sold for just $130 during the start of August. Yet, it still had no takers, which is why the price was further cut to only $100, with an estimated mortgage of $1 per month. The house has three bedrooms and one toilet and bath with a floor area of $974 square feet. The total lot area is 3,049 square feet.
2. 13545 Fleming St. – $70
This house along Fleming St boasts of three bedrooms and a single toilet and bath. It sits at a spacious lot that measures 3,049 square feet, with the house having a floor area of 832 square feet. The house used to have a value of as much as $32,555 before the city’s economy went on a downward spin. At a selling price of only $70, the monthly mortgage is so low that it will not even amount to a single dollar every month.
1. 4700 Saint Clair St. – $1
Imagine a house that measures 2,248 square feet that sits on a land area of 3,484 square feet. The house also has a couple of toilets and baths and at least the same number of bedrooms. It used to have a value of $33,909, but because of the economic crisis, the house is being sold for an unbelievable $1. Yes, a single buck and you will have your very own house and lot, albeit in a bankrupt and currently downtrodden city.
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