Bargains in Duluth Real Estate Foreclosures

by Tom Bridge on January 15, 2009

I’ve talked about the foreclosure market as it relates to Duluth Real Estate in the not so distant past and one particular home has me bringing it up again. The house pictured above at 2310 Hutchinson St in Piedmont heights is one of those homes that gets listed and gets immediate attention from agents working with investors and handy buyers looking to build some sweat equity in their own home. The house is in an area of newer homes by Duluth standards with many of the neighboring homes being built since the 1960’s.

Features of this split entry home are Cedar siding, 4 bedrooms 2 on the main floor and 2 in the basement (we”ll talk about those more later) a basement family room with a gas fireplace and 3/4 bath in the lower level.

The yard is probably the biggest attraction, a sliding glass door leads to the deck overlooking the yard. At 200 feet deep it doesn’t sound as good as it is. Directly behind this house all you see are the trees even in winter with no leaves for cover. Put a fence along the property line and what you get is complete privacy.

As with many foreclosures this does need some work. A good paint job on the main floor with a little extra effort to cover a few small cracks in the walls. One of the main floor bedrooms could use new carpet. Then we get to the basement where there has been some water damage. The former owner pulled out the flooring and some of the walls as a result but great potential exists for refinishing this area a family room with a gas fireplace, 2 bedrooms and a 3/4 bath.

In a neighborhood of Duluth Homes where the average asking price is currently over $240,000 and this home sold 4 years ago for $149,000 this just could be a gem.

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