Actually, its in a decent area, backing onto a golf course, sadly houses dont increase in value much there. Still, its a lot of house for that kind of money!
my friend is making pretty good cash flow now that he has bought his second house in the university district. he rents out rooms of these large houses to students. most houses were bought for around $100k and rooms rent for $400-$500/mth. note: this is the central Detroit school area, not Ann Arbor which is a whole different price range.
