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University District home heads back to auction

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Detroit Land Bank

Last month, we saw a nice looking University District house go for $255,100* at auction (yes, it was a city employee who bid, so the actual amount would be half). Sometimes these things just don’t work out and sometimes we see these houses go back up on the auction block. Did you have your eye on this one before? The Neighborhoods kindly reminded us that this UD home will be up for grabs next week on March 13.

What are we working with? The listing states 1,624 square feet, although a commenter noted the city assessor site put it at 2,200. It has a lovely fireplace, French doors, archways, four bedrooms, and two baths (note that another commenter said the bathrooms were small). It’s a big project but located in a neighborhood where the property values have been on the rise. Bidding starts at $1,000 and a condition report can be found here. The DLBA lists the minimum cost of repairs at $37,000, but the new owner should plan for a lot more. Will the next round of auction bring it back to a more reasonable price? We’ll keep you posted.