The Herald Banner, Greenville, TX

April 2, 2012

Homes for the Price of a Car


- — A house for the price of an SUV? That's plausible, given the dip in housing. But a home for the price of a Ford Fiesta?

Whoa. Now there's a value-bending proposition.

While most people don't think of real estate in prices relative to that of a car, there are houses in some parts of the United States that are for sale with listing prices just like what you'd see at an auto dealership.

And we're not talking about a house priced at the median home value of $150,000, which is akin to the sticker price of an Aston Martin. The homes featured below compare more favorably to standard highway fare: Nissans, Hondas, Fords, etc.

Some of these properties are distressed sales — either foreclosed or in the midst of a short sale — and some need a little renovation, but that's still a pretty impressive given that they're all comparable to the price of a new car.

Two Rivers, WI

1404 22nd St, Two Rivers WI (below)

For sale: $29,900

This Two Rivers home for sale is a bank-owned property, but don't let that deter you. Priced just under $30,000 and with three bedrooms, 1,512 square feet of living space and with fresh painting, new carpets and refinished hardwood flooring, this home is a steal. But if you prefer to drop $30k on a set of wheels, a base model of the 2012 Honda CRV may be up your alley.

Louisville, KY

2335 Grand Ave, Louisville KY (below)

For sale: $39,900

This Louisville home listing states the house is move-in ready, with newer hardwood floors, updated vinyl and windows. Although it's priced below Louisville's median home value of $86,000, the home is on the smaller side with only 2 bedrooms, 1 bath and 788 square feet of living space. For the same price, a buyer could go green with a 2012 Chevy Volt.

North Little Rock, Arkansas

210 Melrose Circle, North Little Rock AK (below)

For sale: $30,000

This 2-bedroom, 2-bathroom home is a great investment opportunity since it used to be a duplex and, according to the listing, could easily be converted back. The home is situated on a larger block with a fenced yard and covered parking for two vehicles. This home's automotive counterpoint? A 2012 Dodge Dakota truck, which run about $28,000 to $32,000.

Memphis, Tennessee

969 Tunstall St, Memphis TN (below)

For sale: $24,000

Less than $25k is quite a deal for a home built in the last fifteen years. This 3-bedroom, 2-bath Memphis home for sale was built in 1999 and features 1,200 square feet of living space as well as a two-car garage. For $25,000 in car value, how about a 2012 Toyota Camry?

Wichita, Kansas

1620 W 2nd N, Wichita KS

For sale: $54,900

Priced at almost $55,000, this Wichita home for sale is on the pricey end of our list. The adorable cottage offers 2 bedrooms, 1 bathroom and plenty of updates-- including hardwood floors, a new kitchen, windows and roof. For the same price, a 2012 Mercedes Benz e-class could be a classy choice.

Sleepy Eye, Minnesota

108 Elm St NW, Sleepy Eye MN (below)

For sale: $39,900

Located two hours southwest of Minneapolis, Sleepy Eye is a smaller lake town. This slice of real estate is move-in ready with newer paint, flooring and furnace. The home also has a covered porch and detached two-car garage. For the same price, you could fill the garage with a Buick Enclave, which costs the same as the home: $39,000.

Detroit, Michigan

15851 Rutherford St., Detroit MI (below)

For sale: $12,900

For much of the recession, Detroit has had some of the lowest home prices. Epidemic foreclosures have pushed prices down to double and even single digits. This brick home for sale is located in the Grandmont-Rosedale neighborhood of Detroit, which has experienced a dramatic drop in home values since 2008 but is seeing a small pick up in the past year with values increasing 4.9 percent quarter-over-quarter. This affordable Colonial has 3 bedrooms, 1 bath with hardwood flooring and glass-block windows. Or, for about $13,000, you could get a Ford Fiesta, which start at $13,500 for its base model.

New Port Richey, Florida

4119 Claremont Dr., New Port Richey FL

For sale: $42,000

A two-bedroom, two-bath rambler could be the perfect place for a Florida getaway. The New Port Richey home for sale is located north of Tampa and St. Petersburg and has 1,068 square feet of living space with a formal dining room, bright kitchen with breakfast bar and outdoor patio. The potential car equivalent of the house is a Acura MDX, also priced at $42,000.

Related posts: > How Much Home Can You Get For $150,000 > What $250,000 Will Buy in Different Housing Markets