But, in Detroit you need to compare renovated to other renovated homes, not just sales.

With a $25,000 renovation investment, we modernized and enhanced the home’s value.

If you can do a renovation loan with 203k or a homestyle loan to house hack a 2-4 unit multi-family, that typically has the highest potential for equity gain with the lowest cost.  

Purchase price: $307,000 Cash invested: $118,000 Purchased in January 2021, we successfully renovated this home to create a premier vacation rental property.

And easier to buy a home with potential to rent out rooms or renovate a basement, add an ADU etc. 

I did this 10 years ago and pursued a heavy renovation with contractor/tenant.

Purchase price: $307,000 Cash invested: $118,000 Purchased in January 2021, we successfully renovated this home to create a premier vacation rental property.

Purchase price: $307,000 Cash invested: $118,000 Purchased in January 2021, we successfully renovated the interior and exterior of this home that resulted in a premier vacation rental property.

-NationsIt makes little to no economic sense to do a renovation in this neighborhood.

These areas offer a mix of renovated bungalows, new construction, and industrial conversions, with increased demand from young professionals.