What Kind of Home Does $25,000 Buy You in Dubuque, Iowa?
That's not a typo where we forgot a zero. You can buy a home in Dubuque, Iowa, for $25k.
As a result of the Federal Reserve raising interest rates as part of its stated effort to tame inflation, mortgage rates have skyrocketed to levels not seen for nearly a decade.
The Fed's policy pushes millions of Americans out of the housing market. Or so popular opinion would tell us. But, if you want to own a home, you can still find an affordable one. However, it may not be the fanciest on the block, but at least you're on the block. Like the Monopoly game, your first opportunity to buy property is Baltic Ave., not Park Place.
There is no shortage of online stories showing expensive, dream homes. So how about a real bargain? That's why we chose to review homes that are the most affordable and available for sale in Dubuque, Iowa, for under $90,000. The following six homes are the result of that search.
1. Bring Your Tools and Imagination!
This little bungalow requires you to bring your tools and imagination, but at $25,000, it's the lowest-priced home in Dubuque, Iowa. So pay cash for this home and put the saved mortgage interest towards home repairs.
No doubt that this home will require lots of renovations, but still, at $25k, you'll be a property owner!
Are you not impressed by the least expensive home in Dubuque? Then, let's see what doubling the budget gets you in the Dubuque market. Zillow Link
2. No Interior Pics, but Where There's a Will, There's a Way!
From the exterior view, this multi-family home on Loras Blvd needs some TLC, but it is vacant, so you can get to work on fixing it up. Additionally, it's across the street from Loras College, and having close access to campus will provide an endless supply of student renters or make it easy for you to enjoy the historic campus. Zillow Link
3. The Place Has Good Bones!
This Lowell St. home possesses tons of character, but it will require time and skills to get it updated and move-in ready; if you have the money, energy, and vision, it could be a dream home or your never-ending nightmare. Only time will tell.
These updates are significant, so do some due diligence before you sign anything! (That goes for each of the properties mentioned in this article!) Zillow Link
This next house is the most impressive yet. The 1,251 sq. foot home could probably use some updates, but the pictures give the impression that the place has potential.
4. Seeing is Believing
The price just dropped $11,100 in the past 24 hours, so this place is priced to sell. It may need a little TLC, but it may also be your affordable dream home.
5. Move-In Ready!
Another $11,000 price drop! This place appears in pretty good shape and has excellent potential for $89,000. Zillow Link
At nearly1,400 sq ft, this home looks quite nice and move-in ready. It seems like a possible deal for the under $100k asking price. Zillow Listing
This home needs plenty of TLC, but there's much potential if you can channel your inner-Bob Villa enough to rehab this old house.
6. Close to Everything!
Yes, it needs some work, but it's in an attractive historic bluff location walkable to downtown and near Clarke University. The neighborhood is seeing some attractive real estate renovations and upgrades. Zillow Link
Please consult your real estate agent and do any inspections necessary before purchasing any home or real estate. This article is not meant to provide real estate investment advice. Happy house hunting!