House of the week: Fixer-upper on N. Miro Street

Have you ever seen the movie Money Pit? Tom Hanks and Shelley Long play a new couple who believe they have finally found their dream house, but it (along with their relationship) basically collapses into rubble. This is what always comes to mind whenever I see the words "fixer-upper" or "investment opportunity" in a house listing. For example, how about this Greek revival on N. Miro?

It seems like an incredible deal. A gorgeous, three-story mansion originally built in 1860 with five bedrooms, three and a half bathrooms, original pine floors, marble mantles, pocket doors and transom windows for a total of 4,232 square feet of living space and a lot almost twice that size. It looks to need a lot of work, possibly some new plumbing and electric, drywall and paint, floor sanding and varnishing...but I have a vision in my mind of what it could be. Perhaps I am being optimistic, but this "investment" seems like a steal listed at $179,000. Since I am certainly no whiz at real estate investments, I wonder how much it would cost to make this place what it was and how long it would take to finish it. What do you think?

I do love to paint!