A Dream Dwelling for a Bargain Price: Renovation-Ready Abodes That You Can Buy for as Little as $47K

by Kellie Speed

There is nothing quite like buying the home of your dreams—particularly if that property comes complete with a bargain price.

While snapping up a turnkey dwelling might be out of reach financially, if you're willing to roll up your sleeves and channel your inner Chip and Joanna Gaines, there are plenty of renovation-ready abodes on the market that can be snapped up for a sweet deal.

Seeking out these homes can seem daunting—unless, that is, you know where to focus your house hunt.

Luckily, the Fall 2025 Wall Street Journal/Realtor.com® Housing Market Ranking has identified the top affordable housing markets in the U.S., where fixer-uppers could prove to be a good investment for savvy buyers.

The report weighed "real estate demand, housing inventory, median days on the market, median price trends, property taxes, climate risks, unemployment rate, wages, regional price parities, amenities, and other factors that affect the cost of living and quality of life."

Whether you are embarking on a full-scale renovation for the first time or are an experienced investor, here are five renovation-ready residences from Pennsylvania to Michigan, available for as little as $47,000.

1. 2036 Robinwood Ave, Toledo, OH

Price: $46,667 (minimum bid)

Old West End: This historic Victorian is being offered at a foreclosure auction, starting Nov. 27 at 9 a.m. and ending Dec. 4 at 3 p.m.

Built in 1892, the five-bedroom residence full of "grace and charm" needs "a little work" throughout the 3,571 square feet of space. While no interior photos are included, the listing does say the home has cathedral ceilings, hardwood floors, a fireplace, and finished attic.

A detached, two-car garage can also be found on property.

There is also a detached, two-car garage. (Realtor.com)

2. 909 E King St, Lancaster, PA

Price: $125,000 (auction)

East End location: This three-story residence requiring a "major renovation" is being offered for auction on Nov. 4 at 3 p.m., on-site and online.

Built in 1880, the five-bedroom residence seeks a buyer to bring some TLC to restore its original glory. The 2,759-square-foot home "built on a foundation of strong, timeless bones" has already had some updates, including a furnace, water heater, and an electrical panel.

There is also a detached two-car garage along with "ample" off-street parking.

A front covered deck is designed for relaxing and entertaining. (Realtor.com)

3. 1410 Perkins Ave NW, Canton, OH

Price: $135,000

West Park neighborhood: This three-bedroom residence "full of character and classic appeal" is looking for a buyer to thoughtfully modernize its interior.

The historic home built in 1918 features 1,344 square feet of cozy space. Highlights include a spacious living room with a fireplace, light-filled dining area, and a front sunroom designed for relaxing.

A patio out back overlooks the fenced yard.

A cozy living room boasts a fireplace. (Realtor.com)

4. 1113 Eaton Ct, Lansing, MI

Price: $129,700

Hillcrest neighborhood: This Storybook home with an attached three-car garage features a 1,270-square-foot open floor plan full of potential—with some updates already made.

A modern kitchen has stainless steel appliances, and the nearby living room features a fireplace. One bedroom can be found on the first floor with two more located upstairs. Recent modernizations include a newer furnace and air conditioning. The second floor also has a living space plumbed for a kitchen, if the buyer wanted to transform it into an income-generating property.

The lot does need some landscaping.

The open floor plan features a kitchen that flows seamlessly into the dining area. (Realtor.com)

5. 1015 13th St, Rockford, IL

Price: $144,900

Winnebago County: This vinyl-sided residence featuring covered front and rear porches is being offered as is.

Built in 1900, the three-bedroom home still features many period details, including hardwood floors, two staircases, oversized windows, and custom millwork. One of the two full bathrooms has a soaking tub.

A two-car detached garage can also be found on the fenced property.

Hardwood floors can be found in the living and dining rooms. (Realtor.com)

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