Metro Homes Under $40k

According to a quick search on MLS this morning, there are exactly 463 residential properties in Minneapolis and the West ‘burbs for sale for under $40k.

To be sure, the majority are in rough condition, in tougher neighborhoods; the ones that aren’t, are typically condo’s.

Small condo’s.

But still.

When even a crummy studio apartment fetches something like $500 in the Twin Cities, a monthly house payment of $200-$300 (PITI on a $40k property, assuming $1k down and 4.5% interest) sure seems compelling!

*Thanks to City Lakes’ Budd Batterson for that line (he has an upcoming Robbinsdale condo that is — cheaper than a car, that is). And yes, at $40k it would be a very nice car.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

Leave a Reply