The $1 house in Pontiac, Michigan, has a worn exterior. The front lawn is covered in overgrown plants.Chris Huber/Good Company Forget Italy's cheap houses — you can get this two-bedroom home in Pontiac, Michigan, for $1. But as the listing photos show, the rundown property needs some serious restoration work. No, seriously: Some rooms have exposed wooden wall frames and there's even a hole in the floor. Forget 1 euro homes in Italy — you might just have a shot at American home ownership in this economy if you manage to get your hands on this $1 house in Pontiac, Michigan.If you're looking for a fixer-upper and not intimidated by the challenges of renovating a home on your own, this property is probably the stuff of dreams.The listing describes the house as the "World's Cheapest Home," and it very much looks the part: Paint is peeling off the walls, and a layer of dust and grime appears to cover the floor, as photos show.The $1 house is clearly a fixer-upper: The paint is peeling from the walls and the floor is covered in a layer of grime.Chris Huber/Good CompanyBut the listing description implies that this shouldn't deter any potential buyers.