What $300,000 Buys You Now

Five years ago, an upscale version of the American Dream -- living space, location, property, charm and more -- in most U.S. metropolitan areas started at around $500,000. Then the housing bubble popped. Since October 2005, values on existing homes have dropped 27% nationally, according to the National Assn. of Realtors.
Is $300,000 the new $500,000? Here's a look at 12 properties on the market, all in the $250,000-$350,000 range. See how far your real estate buck stretches now.


Detroit, Mich.
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Asking Price: $245,000 Square Footage: 3,288Bedrooms: 4Bathrooms: 4Acreage: 0.35
Palmer Woods, a neighborhood of the Motor City, is an architectural preservation district of English Revival and Tudor-style houses just like this one. This home was built in 1938, with hardwood floors throughout, stained glass windows and doors, and a fireplace. With an asking price of $75 per square foot, you'd be hard pressed to build a new home with such amenities more economically.


Rowlett, Tex.
Price: $250,000Square Footage: 3,670Bedrooms: 4Bathrooms: 4Acreage: 0.21 acres
Priced at $81 per square foot, this Texas-style mini-mansion includes a two-story entry foyer, open floor plan, two dining areas, a game room, study and a three-car garage. If landscaping isn't your thing, the grass-less backyard features a large stone pool. And it's only 16 miles from downtown Dallas.


Omaha, Neb.
Price: $260,000Square Footage: 2,726Bedrooms: 4Bathrooms: 3
Built in 1909, this corner-lot house is in the Old Market neighborhood of Omaha, an historic preservation district with a lively rhythm and blues scene. The nine-room home has all its original woodwork -- hardwood floors, giant ceiling moldings and baseboards and an ornate staircase. It also features important updates, such as a new roof and new siding.


Marietta, Ga.
Price: $279,000Square Footage: 2,622Bedrooms: 5Bathrooms: 3Acreage: 1
Located on an acre of land in a quiet cul-de-sac, this home typifies the great values available in the Atlanta metro area -- at about $106 per square foot. Marietta, 23 miles outside of Atlanta, is one of the area's premier suburbs, and the local school district is one of the most coveted in the state.


Roland, Ark.
Price: $287,900Square Footage: 2,752Bedrooms: 4Bathrooms: 4Acreage: 4.37
Here's a real estate trifecta -- four bedrooms, four bathrooms... and four acres. The home features stainless-steel appliances and granite countertops in the kitchen and a backyard pool. It offers a combination of luxury and privacy 25 miles from Little Rock, which has fared better than most cities during the downturn.


Newport Center, Vt.
Price: $299,000Square Footage: 2,416Bedrooms: 3Bathrooms: 2.5Acreage: 4.60
This chalet with plenty of property overlooks Lake Memphremagog in northern Vermont. It also features a detached two-car garage, patio and two fireplaces. Quiet Newport Center has less than 2,000 residents, although it is only about a two-and-a-half-hour drive from Montreal.


Portland, Ore.
Price: $309,900Square Footage: 2,008Bedrooms: 3Bathrooms: 1Acreage: 0.13
This corner-lot home in the Beaumont Village area of Portland was built in 1926. But it has been fully updated and remodeled with hardwood floors, a fireplace, stainless-steel appliances and new windows. It features a beautiful backyard with deck and stone patio, and a full garage. The Portland rail system and Interstate 84 are less than two miles away. Portland is a charming city with plenty of diversity. And it's quite green, like the house.


New York, N.Y.
Price: $325,000Square Footage: 450Bedrooms: StudioBathrooms: 1
This studio apartment in Midtown Manhattan has more the feel of a one-bedroom because of its layout. Located in a building with doormen on duty 24 hours a day, it's close to the subway, Central Park and Columbus Circle, to name a few attractions in the Big Apple.


Lihue, Hawaii
Price: $334,900Square Footage: 1,032Bedrooms: 2Bathrooms: 1.5
Lihue, on the island of Kauai, boasts the island's premier shopping district. This two-bedroom town home is part of a community with access to a pool and the Puakea Golf Course, and it's close to the beach. Who needs the indoors in Hawaii?


Tucson, Ariz.
Price: $339,900Square Footage: 3,108Bedrooms: 4Bathrooms: 3
This spacious home is designed to stay cool during hot Arizona days. Other amenities include a three-car garage and a loft, all situated on the 16th green of an adjacent golf course. It's located 17 miles outside Tucson, which is in the midst of a downtown revitalization.


Boston, Mass.
Price: $339,000Square Footage: 1,240Bedrooms: 2Bathrooms: 2.5
This duplex is in the heart of Boston's historic Charlestown neighborhood. It has two levels, two bedrooms, two and a half bathrooms, two decks and high ceilings. The large space is perfect for a young professional, new family or retirees. It's also close to the Boston T and Route 93.


Sacramento, Cal.
Price: $339,500Square Footage: 1,036Bedrooms: 2Bathrooms: 2
Built in 1910, this home combines cottage charm with modern conveniences in midtown Sacramento. Everything is within walking distance: restaurants, art galleries, shops and a diverse culture. Small? Yes, but architecturally appealing and very practical.