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What $1500 Gets you in Detroit: West Village Loft Inside Converted Bank

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Photos by <a href="http://www.theloftwarehouse.com/index.php?option=com_iproperty&amp;view=property&amp;id=351&amp;Itemid=181"> Jim Tumey/The Loft Warehouse</a>
Photos by Jim Tumey/The Loft Warehouse

Last week, Curbed National showed us what $1500 gets renters in Houston, Denver, Pittsburgh, Memphis and even Milwaukee. For the most part, they get one or two bedrooms (except in Memphis, where it gets you a 3-bedroom house). In Denver, you get a carpeted basement apartment with a windowless kitchen and ceilings that are both popcorn and shiny (bonus!). In Detroit, $1500 rents a very tasty West Village loft. There's just the one bedroom, but it's in an honest-to-god bank built in 1918.

The 1-bedroom, 1-bath loft offers 700 square feet of living space. There are hardwood floors, granite counters, stainless steel appliances and a massive attached terrace. The home has its own laundry, and the $1500-a-month rent gets you water and WiFi. There are also beamed ceilings, a really pretty tile backsplash in the kitchen, and a massive built-in custom-made dining table. The building is gorgeous, too—hard to go wrong with an old bank. Of course, the structure sold in 2011 as part of Wayne County's tax auction. The winning bid? A mere $11,000. Buy low, rent high, it seems. That's thrift, Detroit style.

·7960 Kercheval [Bid 4 Assets]
·7960 Kercheval [The Loft Warehouse]
·In Houston, Denver, and More, How Much $1,500/Month Will Rent You [Curbed National]