Check it out! Here are one dozen cheap Minneapolis homes for sale, starting with the cheapest. If you see one listed for $1.00 and that sounds too good to be true, that’s because it really is! Houses listed for $1.00 are usually up for auction, so you probably won’t get to buy cheap Minneapolis homes for only a buck! However, all of the other prices speak for themselves, and many of these properties are short sales or bank-owned homes, meaning they are already priced to sell:
See ALL Minneapolis homes for sale.
Keep in mind that the Minneapolis real estate market was not hit nearly as hard as some urban areas like Detroit were. Now in Detroit, you can buy up distressed properties as part of bulk REO portfolios and can pick them up for as little as 100 homes for one million dollars! I kid you not.
You won’t be able to buy these cheap homes for pennies on the dollar, regardless of what the real estate guru midget twins or Carleton Sheets tell you on late night infomercials. Nor, will you be able to get them on bad credit with no down payment or closing costs. (Sorry!) But do not despair! You can purchase a Minneapolis house with as little as 3% down if you use FHA financing, and if you need to finance the repairs (at these prices, the homes will probably need them) you can use an FHA 203K streamline home mortgage loan to finance both the purchase and the repair expenses.