This may be the cheapest house I've ever seen (Bangor: real estate, big house)

[maineguy8888]

I have no connection with the property. I just could not believe how cheap it is, unless the photos are completely deceptive!
http://www.century21queencity.com/Bangor_ME_homes_for_sale.shtml

[slyfox2]

Originally Posted by maineguy8888

I have no connection with the property. I just could not believe how cheap it is, unless the photos are completely deceptive!
http://www.century21queencity.com/Bangor_ME_homes_for_sale.shtml

there's no house there.

[PAhippo]

not getting a specific house-just the realtor's main page.


is it a cute house?

[maineguy8888]

Sorry about that, let's try this:

Real Estate Listing Located at38 Fairfield Street, &nbspIsland Falls Maine

[chiroptera]

Originally Posted by maineguy8888

Sorry about that, let's try this:

Real Estate Listing Located at38 Fairfield Street, &nbspIsland Falls Maine

Heh.
You clearly haven't browsed real estate in cities like Flint and Detroit.
Thousands of houses cheaper than that every day. Many of them perfectly liveable although obviously not the greatest neighborhoods.

No lie, a kid who works for me just bought a house plus the lot next door for $1400, today. Perfectly OK little 1950s 800 sf house with a detached one-car garage that he has been living in for several years, he bought it for back taxes from the county after his landlady let it go back for taxes. He'll pay it off at $100 per month. Taxes are around $400 per year.

No clue about that Island Falls house; looks like it could be a great deal for someone who is handy and has the means to fix it up, and isn't fussy about location!

[maineguy8888]

Well, I was thinking more of Maine houses. Real estate is cheap up here, but even by those standards this one seems unbelievably low. It's a big house, and seems to be in good shape. Even has a decent garage and a full-sized lot.

[Submariner]

$15k, for 1/4 acre of land and 4,800 sq ft structure. Currently a 3 family or triplex building.

Not bad.

I wonder what the annual income is on it.


It has been our observation that Multi-Family-Residences often run 50% of the price of Single-Family-Residences, per square foot.

In an area where 2,000 sq ft SFRs run normally run $150k, then MFRs will run $75k.

We have had four MFRs [tri-plexes and five-plexes] in different locations. Such has been our observation.

[313Weather]

Originally Posted by maineguy8888

Sorry about that, let's try this:

Real Estate Listing Located at38 Fairfield Street, &nbspIsland Falls Maine

Detroit says Hi.

[mainebrokerman]

i'd be asking how long since someone lived there? has the town deemed it un-inhabitable?


then pay for an inspection,,focusing on water damage/mold


if, by chance, the place is in ok to decent shape....without any major issues, and inhabitable, then it's a good deal-worth taking a look at

[beltrams]

The southern Aroostook, small towns such as Crystal, Island Falls and so on have been really hurting. Their villages are dying, people are moving away. The economic action such as it exists has been going to the larger towns such as Houlton. Smyrna was headed the same way until the Amish brought in new life there. Oakfield was hurting too, though I suspect the huge tax dollar influx from the soon-to-come wind farm will go a fair way towards saving them.