Detroit House Hunting: Land Bank fixer-upper for $130K
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12786 Rosemary St. was on the Land Bank's auction block last year. Photos: Courtesy of Sotero L贸pez
Investors are flipping dilapidated vacants across the city, and this renovated east side spot shows how they can be transformed into attractive starter homes.
- It's part of our recurring spotlight featuring intriguing local houses on the market.
12786 Rosemary St., $129,900
State of play: This three-bedroom house just north of East Outer Drive was on the Detroit Land Bank Authority's auction block last year.
- It sold for a winning bid of $6,500 in November and the deal closed in February, a Land Bank spokesperson tells Axios.
The intrigue: Pictures from the auction listing show how far the house has come since the renovations, which include a new roof, plumbing and electrical systems.
What they're saying: The seller is an investor from Argentina, listing agent Sotero L贸pez tells Axios.
- Renovated homes in this price range have been getting offers from both first-time homebuyers and other investors, he says.
馃挱 Joe's thought bubble: Buying a flipped home can create some anxiety because it's hard to be sure what's underneath the glitzy improvements. But a thorough inspection and the right offer might help overcome those worries.