May 15, 2014 7:58 pm

Motor City madness – own a Detroit mansion for $1000

You could own this Tudor-style mansion for the low price of US$1,000.

Building Detroit

TORONTO – Want your very own Tudor-style mansion? If you’re willing to move to Detroit you could potentially buy one at an auction this month for next to nothing.

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According to the Detroit Land Bank Authority’s website, Building Detroit, this 4,200 sq. ft. beauty located in the Boston-Edison area has 7 bedrooms, 5 bathrooms and a total of 69 windows. It also has a fireplace and hardwood floors throughout.

Starting bid is a low US$1,000.

Don’t think you won’t need to put in some elbow grease though. The electrical, plumbing, heating and air conditioning system (HVAC), kitchen and bathrooms all need replacing, and the drywall needs “extensive work.”

The good news is that the exterior is in “fair condition” and the roof is in good shape. Some doors are also usable.

GALLERY: More images of the mansion up for auction

Boston-Edison is a historic district in Detroit that used to be inhabited by the wealthy and powerful. Boxer Joe Louis lived in the area, as did the founder of K-Mart.

The area is now filled with mostly vacant homes and in an effort to repopulate, the city is auctioning off this and 19 other properties in the district.

Before getting too excited about the low starting bid, auctions in other Detroit neighbourhoods have been ending in the $30,000 to $40,000 ranges.

There is an open house at the property on Saturday, May 17 between 1 p.m. and 5 p.m. Bidding for it starts May 27 at 9 a.m.

© Shaw Media, 2014

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