What Can You Buy For $250,000?

Last Updated May 11, 2010 10:01 AM EDT

"What Can You Buy" is a series that looks at what type of house and amenities you can get for a particular price point in various locations across the U.S. Be sure to check out each of the posts in the series: What Can You Buy For $625,000?, What Can You Buy for $950,000?, What Can You Buy For $35,000 and What Else Can You Buy for $35,000?
Are you a city kid? Do you love walking around, enjoying the sights, smells, and lights of a major metropolitan area?

With the decline in prices, you might be wondering what you can pick up in the way of a pied-a-terre in one of these hot towns: San Francisco, New York City, and Miami.

Here's are three properties we found. Feel free to add links to your own $250,000 properties, in these cities, and elsewhere.

What Can You Buy For $250,000 In San Francisco:

8100 Oceanview Terrace, Unit #119, San Francisco 94132
It's a one-bedroom, one-bath unit in a tidy 669 square feet. Corner view, granite kitchen countertop, and a large private patio. The listing says the unit is quiet and that it "doesn't face the freeway," which makes me wonder how noisy this community really is. Worse, it's a short sale, but the package has already been submitted to the one lender.

Just remember, for a pied-a-terre, it's all about the neighborhood. (Click to see more photos.)

What Can You Buy For $250,000 in New York City:

19 W 105th Street, Apt. 1C, New York 10025
You don't get all that much for your money in New York City. In this case, it's a small, 226-square foot studio in a lovely pre-war (known as "vintage" in other parts of the county) red brick building on a tree-lined street.

The monthly maintenance on this studio is just $410, and this property is income restricted. So if you earn more than $50,000 a year, this place won't be for you. But do you have a just-graduated child who is now living in New York and needs a place?

What Can You Buy for $250,000 in Miami:

3265 Virginia Street, Apt. 20, Miami 33133
The largest of our three homes, this two-bedroom, one-bath home in the heart of the Grove allows you to walk to restaurants, hot shops and the marina. The property features a granite and stainless steel kitchen, cherry floors and a washer-dryer.

Would you buy any of these units? What can you buy for $250,000 in your neighborhood?

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Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com.
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    Ilyce R. Glink is an award-winning, nationally-syndicated columnist, best-selling book author and founder of Best Money Moves, an employee benefit program that helps reduce financial stress. She also owns ThinkGlink.com, where readers can find real estate and personal finance resources.