For a foreclosure, the house at 15461 Kentfield St. in Detroit needed surprisingly
little work. The new owner, an investor from the Chicago area named Kevin Holmes,
slapped on a coat of paint, pulled up the dirty carpets, and replaced the stolen
water heater. The car stashed out back, he learned soon enough, belonged to
a neighbor, not a thief using the three-bedroom as a makeshift chop shop.
The simple brick home really wouldn't look out of place in any middle-income
Midwestern neighborhood. But in distressed Detroit, the Kentfield house sold
for less than half the sticker price on a new Chevy coupe: $6,900.
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