310 E Main StFrankfort, NY, 13340

Yes, it needs work. Please don't tell us that. We know. In fact, the second-floor unit needs a lot of work-ceilings, walls, kitchen, bath, the whole production. This is not a weekend paint-and-flooring project, and we're not going to insult your intelligence by pretending otherwise. Now that we've handled the obvious, let's talk about what matters. Go out and try to find a classically Victorian duplex in any neighborhood for under $100,000. Then try finding one at an address like this, with two positively enormous units, wonderfully low municipal electric and an almost outrageous amount of original character still intact. We'll wait. Standing proudly on a generous corner lot, this grand old gal is already dressed for her comeback with freshly painted white-and-blue wood siding, twin front gables, decorative flourishes, beautiful bay windows, substantial porches and a façade with enough personality to stop traffic. There's ample parking, separate exterior access and plenty of outdoor space, too. Inside, the first-floor unit was occupied recently and offers an immediately usable starting point. It's not a trendy gray flip-and thank goodness for that. Instead, you'll find enormous sun-filled rooms, high ceilings, hardwood floors, a functional kitchen and bath, decorative transoms, vintage doors and hardware, substantial millwork and a fabulous period fireplace surround. Improve it over time or put it to work while tackling the much bigger adventure upstairs. And upstairs? Upstairs is where the story gets interesting. Unoccupied for decades, this massive unit requires a complete renovation, but behind the peeling paint and damaged ceilings are the ingredients renovators spend fortunes trying to recreate: room after room of original wood, soaring ceilings, oversized windows, richly stained woodwork, gorgeous doors, period hardware, a clawfoot tub and a remarkable tiled fireplace with an intricately carved mantel. Even in its current state, the craftsmanship is impossible to miss. This isn't about disguising the work. It's about recognizing what the work could unlock. Repair it properly. Preserve the details worth saving. Design the kitchen and bath around your investment strategy. Then bring an entire second unit-and an entirely new income stream-back to life. One recently occupied unit below. One full-scale value-add project above. Two massive apartments, tremendous architectural character and an acquisition price that leaves room to execute your vision. Yes, it needs work. But at under $100,000, that isn't the flaw in the story. That is the opportunity. Owner is a licensed real estate broker.