There are some areas of Detroit which had cachet sixty years ago but don't have it now.  

Colonel Sanders started KFC when he was in sixties.

Using the sixty percent model the offer would be $60,000 minus about $6,000 for repairs thus the offer would be about $54,000 to the seller and about $64,000 to the buyer? 

@Jane Dang  Here's a notice template for you (it's the one I use in California):60-DAY NOTICE TO TERMINATE MONTH-TO-MONTH TENANCY TO: (tenants' names),AND ALL OTHERS IN POSSESSION of the premises located at: (address of rental property).YOU ARE HEREBY NOTIFIED that effective SIXTY (60) DAYS from the date of service on you of this notice, the periodic tenancy by which you hold possession of the premises is terminated, at which time you are required to vacate and surrender possession of the premises.

Lots of mid-sixties ranges just begging to be rehabbed.

Mid-sixties to low seventies in good condition in that particular area.

Owner shall pay Manager at the rate of $60.00 (sixty dollars) per man hour for all maintenance services provided under this Agreement, or specifically pre-authorized by Owner in writing.

If neither Buyer nor Seller enters into a mutual release or initiates litigation within sixty (60) days of the mailing date of the certified letter, Broker may release the Earnest Money to the party identified in the certified letter.

The sold comps are at $132k but  this house needs a total update ( just imagine the mid sixties).

A sixty day notice is required before the one year or we get charged an additional two months rent.