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Old 05-02-2017, 10:18 PM
2 posts, read 1,967 times
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What would be the best neighborhood to buy a house between $20,000 and $25,000? This would include a home in move in condition and take into account the quality of the neighborhood (crime rate, proximity to stores, neighbors, etc).
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Old 05-03-2017, 09:14 AM
Location: Grosse Ile Michigan
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Trailer parks OK?

Otherwise for that price, you are probably going to be looking at neighborhoods that are less than nice/ideal and hoping that with your help and activism, they will become nice. You will be looking mostly or entirely at Detroit. Perhaps old Redford (now a part of Detroit).

A lot of people see the news reports about Detroit homes selling for $1000 or $100, and think that means they can get a home in Novi for $30,000. They are only off by a factor of 10.

Even in Detroit house prices have gone up and there are not a lot of move in ready homes in the $25,000 range. Certainly not in nice neighborhoods with lots of shopping and great neighbors.

I did a quick search of some of the less nice suburbs (Taylor, Inkster, Ecorse) and did not find any listings under $25K. There were some in the 60 - 70K range and maybe open to negotiation. (Inkster is awful and you are better off in many parts of Detroit). I think you are going to be looking in Detroit in that price range and not the awesome parts of Detroit. I searched for homes in the $10,000 to $25,000 range and the resulting dots could serve as a map identifying the bad areas of Detroit. Still there are some opportunities that might be manageable and IF things stay on their current track, you could see enough improvement to make it a wonderful investment. Of course things could also decline - there is not sign things will get worse for Detroit in the foreseeable future, but it can happen.

In the suburbs, trailer homes are certainly available for $25,000 or less, but you still have to pay lot rent and association fees.

Add a zero and you will get into some pretty decent homes in fairly good suburbs, especially if schools are not a concern.
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Old 05-04-2017, 06:30 AM
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I would look into the Warrendale and Parkland neigbhorhoods on the far west side, the Eye neighborhood on the far northwest side (Telegraph/7 Mile/Grand River area), and Morningside on the far east side. The 3 west side neighborhoods have a lot of small 1920's to 1950's vinyl-sided bungalows that just aren't worth much. The neighborhoods aren't as crime-ridden and blighted as some Detroit neighborhoods, but they are not the most desirable areas.

7403 Brace St, Detroit MI 48228 - MLS# 217011170 - $25,000, has its furnace, hot water tank, even stove
7360 Brace St, Detroit MI 48228 - MLS# 216113831

7312 Chatham, Redford MI 48239 - MLS# 216111405 - looks like its in good shape, the kitchen countertop needs to be replaced - $25,000

4181 Three Mile Dr, Detroit, MI 48224 - realtor.comĀ® - $27,900

Here is a nice brick house in Bagley, but I don't know if it is move-in condition.
18714 Cherrylawn St, Detroit MI 48221 - MLS# 217029243
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