NE Mpls (Holland, Sheridan, Marshall Terraces, Water Park, St Anthony) would all fall into this category. Built around 1900 for river, mill, factory wrkers, the houses tend to be large and a good chunk of their older occupants have moved on in the past 20 years. Lot's of artists and people willing to put some work into their houses moving here.
Webber/Camden & Victory, Lind-Bohannon on the "infamous" North Side. Many fine houses and neighborhoods overe here at good prices because the address has a "N" in front of it instead of a "S". N Mpls is bad, no doubt about it but a general rule of thumb is...if the house is higher than 40th St N it's ok.
E Nokomis/Wenona/Keywadin/Morris Park are actually in kind of a decline but I see a lot of value here. Big houses, good prices, nice neighboprhoods, close to the lake and falls. Drawback is airport noise.