How much house does $200,000 buy?

Las Vegas

• 3 bedrooms, 2 baths
• 2,518 square feet
• Year built: 1997
• Price: $199,000

The price was recently reduced on this single-story home near Frenchman Mountain in the Coventry Estates neighborhood, which has big views of the Las Vegas Strip and surrounding peaks. The home has an airy floor plan and an extended kitchen that flows into a family area with a fireplace and custom shelving. Outside in the large lot is a covered patio. Vegas is reviving, listing agent Marta Jones-Carmody says. "Inventory is low, sales remain very high, and we're experiencing multiple offers on well-maintained properties," she says.

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Washington, D.C.

• 1 bedroom, 1 bath
• 567 square feet
• Year built: 1963
• Price: $205,000

This one-bedroom apartment in a midrise building in northwestern D.C. has crown molding, hardwood floors and ample closet space. It's on the quiet side of the building on a high floor and faces west for afternoon sun and evening sunsets. The building is two blocks from trendy neighborhood shops, restaurants, markets, a library and a theater. Public transportation is at the door, and the Metro stop is a 10-minute walk away.

"The real-estate market in northwest Washington has been stable in the past two years," agent Margaret Lamberton says. "We have not suffered the pain of lots of foreclosures or short sales, and so prices have remained constant. It now takes a little longer to sell properties than it did during the boom years, but they are selling."

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Miami

• 4 bedrooms, 2.5 baths
• 2,376 square feet
• Year built: 1988
• Price: $205,000

This two-story home — a short sale — is in a gated community about 15 miles southwest of downtown Miami, not far from the Aerojet Wildlife Management Area. A lake can be seen from nearly every room in the house. The home also has a two-car garage.

"We are marketing this home at a price range of $205,000, showing the signs of the times in the Florida real estate-market," agent Armando Rebull says. However, he adds, "Florida's weather seems to continue to bring investors to South Florida. The local market, whether being small condos, single-family homes or higher-end properties, are being consumed by mostly investors."

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Boston

• 1 bedroom, 1 bath
• 561 square feet
• Year built: 1900
• Price: $199,900

This condo is in a century-old building in a central location off bustling Market Street, near the Red and Green lines of the "T" and the Massachusetts Turnpike. It's a floor-thru (with windows out the front and back) and has a renovated kitchen with granite counters and new stainless-steel appliances and a bonus office nook. "Despite recent headlines about growth in the rental sector of the Northeast, property location and condition still carry the day, and buyer confidence is strong," says Elisabeth Elden, a real-estate agent with the Attias Group. This home "is the type of unit that appeals to a broad buyer pool — young professionals, downsizers and investors alike." 

NOTE: This property is no longer listed.

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Detroit

• 7 bedrooms, 6 baths
• 6,185 square feet
• Year built: 1914
• Price: $199,900

Your money really does go far in Detroit these days. This huge Tudor in the historic Edison neighborhood has more than 6,000 square feet, with big bedroom suites and public rooms on four floors. Wood floors run throughout, as does handsome, dark wood trim.

"As for the $200,000 market, good offerings are selling," listing agent Kenan Bakirci says. "Decent products — either a good value or a 'move-in' condition home — are being bought up rapidly since early January."

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New York City

• 1 bedroom, 1 bath
• Approx. 400 square feet
• Year built: 1910
• Price: $175,000

It's tough to get into real estate on Manhattan Island for $200,000 or less. This apartment in Harlem is a completely renovated, Zen-inspired one-bedroom in a 1910 co-op building. There's a large eat-in kitchen with stainless-steel appliances and hardwood floors. The apartment is near City College, Columbia Presbyterian Hospital and Columbia University. Highbridge Park is just across the street. The building has a live-in superintendent and a courtyard.

"As more people get priced out of the Upper West Side and South Harlem, the real-estate market in Hamilton Heights and Washington Heights will get stronger and more competitive for both buyers and sellers," listing agent Ayo Haynes says. "This part of the city is still an underdiscovered treasure for many buyers.

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Los Angeles

• Studio-style, 1 bath
• 574 square feet
• Year built: 1955
• Price: $205,000

High-end Brentwood, in western L.A. at the foot of the Santa Monica Mountains, isn't cheap. This studio-style apartment, among the lowest-priced properties in Brentwood and the Westside, has a bonus room; the den is being used as a bedroom. The short sale has hardwood floors, large picture windows and a bright, open floor plan. The co-op community has gated entry and parking and a pool that has recently been replastered and tiled. The property is close to shops, restaurants, transportation and the University of California Los Angeles. "This is definitely a market for bargain hunters, especially in areas that are historically strong from the standpoint of prestigious location, good neighborhood schools and areas that offer a sense of community," says listing agent Cynthia Steinberg of Re/Max Olson & Associates.

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Atlanta

• 2 bedrooms, 2 baths
• 1,224 square feet
• Year built: 2004
• Price: $190,000

This is a rare, newer home in one of Atlanta's older neighborhoods, Old Fourth Ward. It has modern touches such as granite countertops and stainless appliances. Dozens of restaurants and bars are a few blocks away on Highland Avenue.

"As a whole, Atlanta is still a buyers market. Prices are down significantly from their 2007 highs, but things are changing, especially in the under-$200,000 in-town market," listing agent Justin Landis says. "Inventory is down over 40% from the start of 2011 and, statistically, under $200,000 is no longer a buyers market with only a six-month supply of listings."

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Anthem, Ariz. (near Phoenix)

• 4 bedrooms, 3 baths
• 2,380 square feet
• Year built: 1999
• Price: $199,900

Anthem is a planned suburb that opened 34 miles north of Phoenix in 1998, and has been called "the best place to raise a family" by Parenting magazine. This completely remodeled home has new maple cabinets, granite countertops and a travertine-like floor in the kitchen. The home features crown molding, wood floors and upgraded fixtures. The backyard sports a private pool and shaded patio. The home is within walking distance of schools, a library, shopping and churches. After falling — hard — things have been turning around in the greater Phoenix area. "We have a very limited supply of homes for sale, and a big demand," says listing agent Pat Bennett of Coldwell Banker Daisy Mountain Real Estate. "Homes on the market are priced well and not for sale for long."

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Elmwood Park, Ill. (near Chicago)

• 2 bedrooms, 3 baths
• 1,733 square feet
• Year built: 1941
• Price: $200,000

Elmwood Park is a town of about 25,000 people northwest of Chicago. This English Tudor in a picturesque neighborhood has a large family-room addition leading out to a new patio with a handsome yard wrapped by a new cedar fence. There's also a two-car garage with a new roof and a third gated space. The basement was remodeled with a full bath in 2006. The downside? Rain last summer caused basement flooding, so the home will need some work. "In the market today, there are homes that are selling," listing agent Basel Tarabein says. "Are they selling at the price that that sellers want or as fast as we want? No, but they are selling and the market is picking up. It will just take time."

Realtor.com: Find a home in Elmwood Park for $200,000

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Seattle

• 2 bedrooms, 1 bath
• 2,020 square feet
• Year built: 1927
• Price: $199,000

The Highland Park neighborhood of West Seattle, an affordable enclave of homes built starting in the late 1920s, is about 20 minutes from downtown's skyscrapers. The neighborhood is home to South Seattle Community College. Residents love the local off-leash dog park and the affordability of housing. Short sales and bank-owned homes make up more than a third of the market in the area, listing agent Kristen Meyer says. "It's making for some great deals for first time homebuyers," she says. This home has a full basement, ceramic tile and hardwood floors in some rooms and a nice color scheme inside.

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Dallas

• 2 bedrooms, 1 bath
• 1,260 square feet
• Year built: 1939
• Price: $199,900 

This well-maintained home in the Little Forest Hills area is just a few blocks from White Rock Lake and the Dallas Arboretum. The home has an open floor plan, maple cabinets, stainless-steel appliances and a wine fridge. The big backyard has a wooden deck. "The market in Dallas is really on the upswing," says listing agent Julie Boren of Dave Perry-Miller & Associates. "Inventories are down, so homes are starting to sell with multiple offers at list or above list price."

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