Older home newer neighborhood no comps?

[Eric Tinsley]

Well I found what seems like a good deal. The house was built in 1929 I can get it for about $30,000 All the comps are selling / sold for about 70,000 but the oldest one was still 25 or so years newer. The house doesn't need a lot of work, and I can do most of the work myself. It has a brand new metal roof, and the hardwood floors are good enough to restore. Plus it has a newer central ac/heat, and it's one of the few in the neighborhood with a real wood burning fireplace. Now the only downside I see is it does have the asbestos concrete shingle siding; which I know some won't like, but even it's in really good shape. Now to complicate things more with all the interest and fees from the HML I'll have to pay back almost $45,000.