Waking up to a balmy 5 degrees Fahrenheit outside made me long for those days I can pack away the heavy outwear and dust off the golf clubs. Instead, the weather forecasters say we can expect more snow on Friday night and throughout next weekend.
So, on we go – into this week’s blog. I am frequently asked about the least expensive homes in Duluth, so I took a quick look at the MLS and this is what I’ve come up with.
The least expensive home on the Duluth real estate market right now is priced at $19,500. It’s definitely a fixer – perhaps a candidate for FHA’s 203k loan. If you aren’t familiar with this FHA program, it allows the cost of the rehab to be rolled into your mortgage payment. But, with a list price this low, your payments will probably still be lower than local rents.
It sits on an un-fenced 6,970 square foot lot and it has a detached garage. Inside, you’ll find two bedrooms and two bathrooms with 672 square feet of living space. It features original hardwood floors.
This property has gone beyond “fixer” status and should probably be called a “tear-down.” Nobody has lived in it since the 2012 flood because of the extensive water damage and the listing agent says the value at this point is in the land so it’s priced at $30,000.
This bungalow has two bedrooms and one bathroom. Another problem is that potential buyers can’t view the interior of the home due to liability concerns.
Priced at $34,900 and within spitting distance of Denfeld, this circa 1919 home needs work inside. It features two bedrooms, one bathroom, a detached 2-car garage and hardwood floors. This may be another candidate for the FHA 203k program.
This home has 1,256 square feet of living space, sits on a 4,791 square foot lot and is listed at $34,900.
The least expensive homes in any market typically include fixers and condos and Duluth is no exception. There are some bargains here, however, and financing is most likely available for all of them. If you need to know more, contact us.