Old Brooklyn and Brooklyn are two different animals. Old Brooklyn is in Cleveland, and I believe goes to Cleveland City Schools. Brooklyn has it's own school district, and the city services there are phenomenal. As far as investment value goes, if you are looking long term there are a lot of undervalued properties in North East Ohio right now. This would be a great time to buy, and then when the market recovers and appreciation kicks in you may have a chance for a good return on your investment.
Many investors are using that area for rehabbing homes into rental units. Especially in Cleveland. Make sure to do a cost analysis on how long it will take you to get your investment back based on what you could get for rent.
If you are considering rehabbing and selling the home just remember that you are getting a good price for a reason, and you have to be realistic about what improvements you make and how much profit you can expect.