In my area I wouldn't buy a 1947 house with a basement water problem.I understand there may be other factors that may make this a good deal though for you.Obviously there are things you could do, such as ensure gutters are unclogged and draining away, or dig up all around the house and sand blast the outer walls and coat them and install gravel all along the exterior walls, or put in an exterior sump, or have trenches cut all around the basement perimeter inside the house to collect water and then pump it out, or you could even toss away some $ by painting the basement walls and floors with special thick paint, but why make any of those steps your problem?

Most people just keep adding coats of paint over the years.

More than likely this could be fixed by simply buffing the floors and applying another coating.

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The ARV is 105-110k and it really just needs a coat of paint and light drywall work.

I believe he painted it to the original color so as to only use one coat and to save time and mistakes wouldn't show.

We inspect and find a thin line of mildew around the lower perimeter of apartment and thicker in corners.

@Alice Tierney I'm not in your market BUT generally if you have a fresh coat of paint and new flooring along with a clean unit I've found that you can really set yourself apart from the market.

Ideally, you would now prime the wall with two coats of oil-based primer like Kilz Original while wearing a respirator equipped with organic vapor cartridgessIf that doesn't work, the plaster or drywall has to be replaced, with all the mess and expense involved.

The entire place needs a fresh coat of paint so I could be looking at putting close to $25,000 into this place.