Rehab quandary: After 341 days, is this property worth $35,000?

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After 341 days, this Garfield property remains on the market for $28,000 more than the purchaser paid for it in 2007.

If you’re looking for a property to rehab, this one seems ideal. The location is nearly perfect — it sits a block away from Penn Ave. in Garfield between Graham and Fairmont, and it’s within walking distance of everything one could reasonably want to do in Garfield, Bloomfield, or East Liberty. The price, at least initially, seems manageable, too: at $35,000, real estate sites estimate you’re looking at a mortgage of $128 per month.

But there are obviously problems here. Continue reading Rehab quandary: After 341 days, is this property worth $35,000?