Here we have a four-bedroom home listed for $23,000. As bitched about in the comments yesterday, this blog has a tendency for "blind cheerleading" when it comes to city living. So today we're not going to do it. We're going to tell you that if you live there, you will be undertaking a big fixer-upper, your car will likely get broken into, and squatters might move into the neighborhood at any time. If you were to listen to some stupid "can't google her way to neighborhood knowledge" blogger, and buy this, you'd likely spend the next six months crying. But. Because life is rough, we also feel the need to point out that if you pass this one up and then realize that, ten years later, someone scooped this 2,600 square-foot brick home built in 1908 with nice wood detailing and bay windows for THAT PRICE, and that you are still just a renter in Ferndale, you may cry then too. Because real estate is a long term investment and we're not finance geniuses but it seems like the market has bottomed out and that those that take a risk will be rewarded. Or at least be able to walk to Tashmoo to drink away the pain of believing in Detroit real estate. · 465 E Grand Blvd [Zillow]

· Yesterday's Comment of the Day [Curbed Detroit]