I think something close to the $50k price can be achieved. It does depend if you are talking about a single family home or a condo or townhome. I purchased a three bedroom 2 bathroom home in SE Las Vegas last month for $54,000. I am familiar with the areas that you can find a $50k or less house. The term good neighborhood is hard to determine since it is subjective. If you are looking for a newer area I know of an area where you can buy a 2 bedroom/2 bathroom condo built in 2004 for about $50k.
Click on the link below to read about the $54k home I just purchased.
Let me know if I can help you out further.