[Update 1: The original version of this item wrongfully placed the Trenton, Michigan property in New Jersey].

There are some real steals out there for first-time homebuyers.

For example, take this home in Trenton, Michigan, which is selling well under the market’s median price, according to Patch's House Hunt in Trenton report.

It’s a small, well-kept single-family home priced at $50,220. That's right just $50k.

It comes with hard-wood floors, a comfy porch and a homey fireplace.