The rest of the story might include things like
Location location location... (once prime, now festering)
Hidden repair needs....
Undisclosed knowledge of contamination (water air soil)....
Problems with legal and equitable title....
Potential uninsurability... if its a place insurers pulled out due to climate crisis driven fire, flood, and storm risk.....
Probably more I forgot...
This just feels too good to be true. In this day in age a 50k house usually doesn't even come with windows and a functioning roof. There has to be a plethora of issues with the house or location that aren't being advertised in the photos. Or the house is so haunted that people keep dying in it and they're going to write a Netflix horror movie about it in a few years.
The couch sitting in the neighbors front yard doesn't bode well. There are lots of areas like this in Milwaukee (as well as Gary, IN and Detroit, MI) that have gorgeous houses from the heyday of the city but have fallen on hard times as the local economies took a downturn.
Respectfully, I can’t speak for crime rating they gave the home in the post, but I put in 3 zip codes that I am very familiar with and they all got low grades. All have their own police departments and I would walk in any of them 24x7. So I don’t know, but the crime metric seems skewed towards high crime. Then I put in the two worst neighborhoods I have lived in and they got the same range for crime. Just saying.
I will say that I just tried entering Tribeca NY which also has an F for crime despite being very safe. Also: Median income of $205,000 to the house’s neighborhood’s median income of $19,000
Look at the full exterior pictures and you can tell. Attic pictures have strips of insulation missing where it has gotten wet and fallen. No evidence of bats but I would not want cats getting rabies or Rona.
I subscribe to this website. There are indeed great deals to be had. The price may reflect some things like needing new roof, plumbing, electrical, etc. but mostly it’s because of location.
I saw an absolute stunner of a mansion on this site once for 200,000 but looked it up on google maps and discovered it was about 100 yards from the Mississippi and protected by a levee. You know, below level next to a river famous for flooding.
This house is apparently in Milwaukee, I live in the Milwaukee area and I think this is in the unsafe part of town. There are many beautiful houses in that area that are not treated well and end up going for cheap.
That’s low for a century house, lol. Most old houses are automatically 100k plus in renos. Where do
I sign up for a cheap house that only needs 50k in renovations?
Problem is most of these gorgeous homes are in neighborhoods in cities or towns. I’d never live anywhere with neighbors or town/city ordinances. Hard Pass.
I saw this on cheapoldhouses Instagram days ago and the commenters said it’s an auction starting at 50k. Not being sold for 50k
The rest of the story might include things like Location location location... (once prime, now festering) Hidden repair needs.... Undisclosed knowledge of contamination (water air soil).... Problems with legal and equitable title.... Potential uninsurability... if its a place insurers pulled out due to climate crisis driven fire, flood, and storm risk..... Probably more I forgot...
Its starting bid for auction. Inspections require local rep. It may not go for much more. But nit worth the $ and issues.
Oh… an auction. I should’ve paid more attention. Thank you for pointing that out.
This just feels too good to be true. In this day in age a 50k house usually doesn't even come with windows and a functioning roof. There has to be a plethora of issues with the house or location that aren't being advertised in the photos. Or the house is so haunted that people keep dying in it and they're going to write a Netflix horror movie about it in a few years.
I agree. Also, not trying to rude, the phrase is "in this day and age."
Location
So many of these cool old houses are, unfortunately in horrible neighborhoods that are unsafe and disgusting.
yeah i walked around on google maps. shithole neighborhood. probably get robbed weekly until you gave up and moved.
What? I looked at the Google street view and all of the houses are lovely.
The couch sitting in the neighbors front yard doesn't bode well. There are lots of areas like this in Milwaukee (as well as Gary, IN and Detroit, MI) that have gorgeous houses from the heyday of the city but have fallen on hard times as the local economies took a downturn.
Bars on the bodega. On the corner by the school is a dilapidated house. Context. Nice house though.
I must not have strolled far enough lol
[area vibes gives it an F for crime.](https://www.areavibes.com/milwaukee-wi/cold+spring+park/?ll=43.04758+-87.94849&addr=2726+w+mckinley+blvd)
Respectfully, I can’t speak for crime rating they gave the home in the post, but I put in 3 zip codes that I am very familiar with and they all got low grades. All have their own police departments and I would walk in any of them 24x7. So I don’t know, but the crime metric seems skewed towards high crime. Then I put in the two worst neighborhoods I have lived in and they got the same range for crime. Just saying.
Where I currently live is an F also 😂 I’ve lived here for 17 years. Its all relative but if I bought a house I sure as hell wouldn’t choose another F.
Our town has an F for crime too, but it’s almost exclusively property crime. Not that that isn’t annoying, but at least it isn’t unsafe.
I will say that I just tried entering Tribeca NY which also has an F for crime despite being very safe. Also: Median income of $205,000 to the house’s neighborhood’s median income of $19,000
Check the schools too. Even if you don’t care, next buyer might.
The high school down the street is described as an "alternative high school" with a D rating and a graduation rate of 17%.
[https://oldhousesunder50k.com/c-1909-affordable-wisconsin-victorian-home-for-sale/](https://oldhousesunder50k.com/c-1909-affordable-wisconsin-victorian-home-for-sale/)
These colors are great
Roof is shot.
Or chock full of bats.
Look at the full exterior pictures and you can tell. Attic pictures have strips of insulation missing where it has gotten wet and fallen. No evidence of bats but I would not want cats getting rabies or Rona.
I subscribe to this website. There are indeed great deals to be had. The price may reflect some things like needing new roof, plumbing, electrical, etc. but mostly it’s because of location. I saw an absolute stunner of a mansion on this site once for 200,000 but looked it up on google maps and discovered it was about 100 yards from the Mississippi and protected by a levee. You know, below level next to a river famous for flooding.
This house is apparently in Milwaukee, I live in the Milwaukee area and I think this is in the unsafe part of town. There are many beautiful houses in that area that are not treated well and end up going for cheap.
The street and other houses there look beautiful.
Be prepared to at least put another 30-50k into it
That’s low for a century house, lol. Most old houses are automatically 100k plus in renos. Where do I sign up for a cheap house that only needs 50k in renovations?
That tile in the bathroom. Oh my God.
clearly they are taking many offers and fully expect it to be sold for well over $50k
Problem is most of these gorgeous homes are in neighborhoods in cities or towns. I’d never live anywhere with neighbors or town/city ordinances. Hard Pass.
https://youtu.be/ngKHvnn2fFE?si=OiOgdXSMFX4N7Gzi
Its like when carpeting became the trend and all that beautiful old wood was covered over. And
Must be haunted….
What a beauty!
Nice but where?
It’s in Milwaukee that’s why lol
Who says there is no thing called affordable housing.
Asbestos everywhere?