This charming Cape Cod was bank-owned and vacant back in 2011, prompting a small group of drug-dealing squatters to move in and put down roots. When police finally raided the place, "the house had cable -- not to mention leather furniture, plenty of booze and a pit bull," reported the Free Press. Even drug dealers appreciate walkability, apparently. Asking $22,800, Bank of America essentially gave it away in 2012 for just $4,200. Less than two years later, guess who just slipped back onto the market?
A vigilant reader pointed out that the Cape Cod jumped back on the market in February, asking an unbelievable $125K. Don't get us wrong—the house has buckets of charm, 3,000 square feet, and we do love the location. But profits of that margin aren't likely to fly in Detroit real estate (with a few very specific exceptions). We'll let you know if they pull it off.
· Yes, The Under $25 K Cape Cod Fixer-Upper Was a Drug House [Curbed]
· A Five Bedroom West Village Fixer Upper For Under $25K [Curbed]
· Listing: 656 Van Dyke St [Zillow]
· Persistent neighbors get squatting drug dealer kicked out of Detroit house [Freep]