Buying in "Transitional" Neighbourhoods?

[Eug]

Yeah, three-quarters of a million dollars in the core of the city gets you a bazillion year-old (but renovated) house in a mediocre area (with some sketchiness nearby).

If you go to a more upscale area (without the sketchiness), the same bazillion year-old (but renovated) house costs a million bux.