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.
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.