For Sale at $188, Is This America’s Least Expensive House?

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By Douglas A. McIntyre Published
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Flint, Mich., was one of the hardest hit cities before and during the recession. Once one of the state’s largest cities, and a prosperous one when auto production plants were there, it came under the control of an emergency manager, appointed by the governor, during two periods, long before Detroit did. While Detroit may be the home of the $1,000 house, one home in Flint is on the market for $188.

The house does not have much to recommend it. Located at 2518 Dakota Ave, it only covers 1,225 square feet, which accommodates three bedrooms and a single bath. It sits on a lot of just 5,663 square feet. The house was built in 1928, before the Great Depression.

The listing of the house on Realtor.com says it is a:

Fixer Upper Home, Needs lots of work, has major fire damage, seller selling AS IS

If Flint’s government could afford it, the house might be a candidate to be bulldozed into the ground to make way for a flat field that might be used for a garden, or for nothing at all. The house sits in a neighborhood with similar homes, just off Michigan’s Route 59 and not far from I-475, as if anyone might drive there.

ALSO READ: States Where Poverty Is Worse Than You Think

Flint’s population peaked at over 196,000 in 1960, according to the Census, and fell under 99,000 last year. The median household income in Flint is just above $27,000, compared to the national average of just over $51,000.

The economy is so badly broken that the local Flint newspaper, the Flint Journal, is only published three times a week.

Most cities battered by the recession and the collapse of the car industry have some chance of coming back. Not so for Flint. According to a Detroit Free Press evaluation of Flint:

Thirty years ago, it was the home of 14,000 workers, a sprawling complex of factories that churned out millions of auto parts a day for General Motors Corp.

By 2005, the city had almost been destroyed as more and more manufacturing moved away. The number of auto workers has fallen close to zero.

Is a house for sale for $188 even imaginable to most Americans? It might be when one around the corner is on the market for $210.

ALSO READ: America’s 50 Best Cities to Live

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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