Got $1,000? Buy a stunning house in Detroit

One of the mansions being auctioned in Detroit. This particular house has seven bedrooms, five...

One of the mansions being auctioned in Detroit. This particular house has seven bedrooms, five bathrooms, and is a whopping 4,200 square feet. (Screenshot)

QMI AGENCY

, Last Updated: 3:25 PM ET

Detroit is auctioning off abandoned homes starting at just $1,000 each.

They include a 2,354 square foot home from 1881, a seven-bedroom Tudor-style home and a 1914 Georgian Revival home with "irreplaceable architectural details."

But the website Building Detroit notes the cost to renovate the homes will cost much more than the winning bid price and the new homeowners will only have six months to bring the property up to code.

The home from 1881, for example, "has good bones" but needs a lot of exterior work including paint, windows and a few doors.

And the Tudor-style home's drywall needs extensive work, while electrical, plumbing, the kitchen and five bathrooms all need replacing.

The properties must be purchased by a Michigan resident, someone who plans to live in the home after renovating it, or a company or organization authorized to do business in the state. The auction is run by the Detroit Land Bank Authority.

A woman at the Detroit Planning and Development Department confirmed the auction website is legitimate. It is also promoted on the mayor's website.


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