Carpocalypse Deals: Five-Bedroom Home Going For $8,995 In Detroit

The one upside of the Carpocalypse is it makes everything cheaper. Why, for just $8,995 you could be the proud owner of an 8,200 sq. ft., five-bedroom colonial home in Detroit.

We thought the $16,769 Caliber SRT4 was the best deal to come out of the collapse of the not-so-Big Three, but this five-bedroom home in the city autos enriched is an even bigger steal at just under $9,000.

It's not in great shape but it's certainly not falling apart. The hardwood floors, brick construction, full basement and garage all add value to the home. Plus, it's adjacent to the Interstate. A little work and the historic home would be quite the deal. The catch?

The neighborhood isn't actually horrible. As our own native Michigander Ray Wert pointed out, there aren't enough people left in Detroit to have a war so, technically, it isn't a warzone. It's within a couple of blocks of the original Motown studio and the Sacred Heart Seminary College.

The catch is you live in a place with a failing industry, failing government and at least one failing sports team. This may explain why more than 200 homes are for sale for less than $1,000 in Detroit.

[Realtor.com via Ritholtz]