24/7 Wall St.

There are few places other than Detroit where someone can buy a large mansion, built in 1900 with six bedrooms and four baths within 5,500 square feet for $285,000. The home is promoted as “within minutes of downtown”, which ironically why it is so inexpensive.

506 Parkview Dr, Detroit is only a short walk to the Detroit River where it flows around Belle Isle. It is in a section of the city called the “Gold Coast”, which was probably true at some time. It is only a walk to some of the worst parts of the city, where thousands of homes are abandoned, and some have been bulldozed into the ground.

The front door is framed by massive pillars. Most of the inside appears to be in good shape with polished wood floors, leaded windows, and a substantial fireplace. However, some of the interior appears to be made of cheap wood, and not the original. The outside of the home is a mess.

Detroit is, by most measures, the poorest large city in the U.S. Twenty-two percent of the households have income under $10,000. Medina household income is below $26,000. Over 40% of the population lives below the poverty level.

It is a hard sell to get anyone with a high income to move into Detroit. Granted, the downtown has been rebuilt to some extent, and their are pockets of economic renaissance, but they are small.

506 Parkview Dr, Detroit will find it tough to find a buyer, particularly at a relatively high price

The listing

Emagine yourself living in a 5500 square feet house in one of Detroits’ most emerging neighborhood. This 6 bedroom house can become home to you and your very deserving family. Come see what the excitement is about and say Hello to the Mayor, because this homes in right down the street for the Manoogian Mansion!