Here's a gorgeous old mansion for less than $50K. Does it need a lot of work? Yes. Is it located in the world's most in-demand area? No. Does it have tons of character and potential? Depends upon who buys it.
Brokerbabble refers to this place as "A real gem that needs polishing." There may be quite a bit of polishing involved, but the price is low, and the house is enormous, and, at least on the exterior, gorgeous.
Size: 4 units, built on a more than 5,000 sq ft lot.
Amenities include: A porch, high ceilings, climbing ivy, a basement, a side yard, and bay windows.
Asking price: $50,000
· 803 North 63rd Street [Trulia]