Michigan Mansion on Sale for $72,500

By Douglas A. McIntyre Updated Jan 13, 10:41AM EST · Published Apr 16, 9:25AM EDT

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Michigan Mansion on Sale for $72,500 — © Thinkstock

It will need a lot of work to be livable by most standards. A mansion in Michigan is for sale at a price of $72,800.

The home is on the National Register of Historic Places, according to Realtor.com, which flagged this listing and described why the house is getting so much attention:

Spotting a bargain amid the million-dollar mansions that populate our weekly list of the most popular homes on realtor.com isn’t always easy. Yet, behold this week’s list! Two of the top three homes are historic homes in need of a white knight who’s also handy with a hammer.

This week’s most popular home got a big boost from social media sharing. We saw locals with a sense of the home’s history begging for a renovation specialist to snap it up. The former bed-and-breakfast in the town of Paw Paw, MI, with a distinctive facade racked up nearly twice as many clicks as the home in second place.

The house sits on four acres and was built in 1902. It is almost certainly owned by a bank that wants to dump it.
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Paw Paw is located in Van Buren Country, in the southwest corner of Michigan, and the country borders on Lake Michigan. It has a population of 3,485. The town claims that its largest employer, St. Julian Winery, is “Michigan’s oldest, largest and most awarded winery.”

Realtor.com commented about the home at 29063 E. Red Arrow Highway in Paw Paw:

It’s another relic in need of a loving buyer. We saw this bank-owned home being shared on Facebook and Twitter this week, so we weren’t totally surprised to see it score our top spot. According to a few Facebook comments, the home with a distinctively Colonial facade used to be a bed-and-breakfast, but it has sat empty for a number of years. The vintage charm of the home is still apparent in photos of the home’s interior, and it will take a savvy buyer to perform a righteous restoration.

In other words, for restorations costs well above six figures, it might be a nice place to live.

For more on real estate from 24/7 Wall St. read How Much a Home Cost the Year You Were Born

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.