It all depends on the neighborhood, of course. If you're talking Brooklyn Heights (looks like you and I are both from there) $1000 is likely for "finished". However, if you're willing to put in either work or stretch your location, you can do much better. For example, I was just buyers' agent for a house in Clinton Hill on Hall Street for $667,000. I walked there for appointments-- only 20 min. from Clark St. Although estate sale, it was a steal, with hardwood floors and delivered vacant. (Don't know if one at that price will come around any time soon again). I just got an e-blast about a 5100SF green home on Bergen St. near all trains in Prospect Heights, new, with owners triplex and rental duplex, asking $2.875M. Perfect renovations. However, just yesterday in Brooklyn Heights I saw a house-like apartment topping out over 2200SF, pristine renovations, 3 Bedroom plus den and huge living room. That was firm at $1.7 million. It was as big as most brownstones I've shown, though, and spread out over a few floors. So, I'd say it takes some legwork. However, once something's renovated the price goes up considerably. You can save a lot by doing the renovations yourself. If you're interested in me looking for you, I rebate 10% of my commission to customers of mine at closing. So, on each million that's about $2500 on average. Would be glad to help and I'm right here on Clark St.