Are zillow Sold prices real???

[Giorgio Peirano]

Hi 

I´m preparing myself to start doing do Long distance BRRRR in the mid future. I have been following the BP and "on the Market" podcast. On one of them, @Dave Meyer mention sevenal cities for rental, and Detroit pop as a good Rental/Buyprice market ratio. 

Traying to get familiar with the numbers and practice calculations, i check on Zillow sold prices in some Zip codes (I´m from Chile in South America and dont knowi if is bad neighbordhoods) 

For my surprice, i find plenty of 30-75k sold properties in diferents shapes and dates, but even in 2022.

¿i'm doing something wrong on the search tool? 

closing costs will be added, but ¿are this actual prices?

Thanks for the help´

Giorgio

[Drew Sygit]

@Giorgio Peirano those prices are for Class D properties or those that need a lot of repairs. A decent price to pay in City of Detroit is around $80k. 97% of houses below that amount are not worth the headaches that come with them. 

For more info about the Metro Detroit market, we suggest following the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/...

We've also created links on our website to all the articles (under View cities in our service area) since the BiggerPockets search feature doesn't work well.

@Alicia Marks many thanks for the shoutout:)