Like most real estate "finds," the 1890s Victorian that Chuck Ludwin and Greg Hetzer bought in 2001 needed a little TLC.

Pam Panchak, Post-Gazette Above: 524 Jeanette St. in Wilkinsburg. The Pittsburgh History & Landmarks Foundation is acquiring five houses on Jeanette Street. Below: 517 Whitney Ave., Wilkinsburg, could use some loving care. Click photo for larger image. More information For information on 813 Holland Ave., Wilkinsburg, contact Jim Watson Jr. of Watson Real Estate at 724-339-3515 or visit www.watsonre.com. For information on the homes on Jeanette Street to be renovated by Pittsburgh History & Landmarks Foundation, contact Cathy McCollom at 412-471-5808. Mark Harvey Smith will be signing copies of "Boldly Live Where Others Won't" at 7 p.m. Wednesday at Barnes & Noble at the Waterfront, Homestead. Information: 412-462-5743.

Cut into two apartments, the three-story clapboard house had cracking plaster walls, lacked a proper foundation on a rear addition and was in desperate need of a new boiler and paint job.

But it had its good points, too. It was on a quiet, dead-end street, had most of its original doors and stained-glass accent windows and was graced with a second-story covered porch.

What really sealed the deal was its asking price: less than the cost of a new compact car.

"We were both into antiques, so we wanted old," recalls Ludwin. "And we figured we could rent out the five-room apartment on the first floor to cover the mortgage and heating bill, which would make it even more affordable."

The hitch? The house is in Wilkinsburg, a once-vital town now struggling with crime, a deteriorating economy, a soaring tax rate and an academically distressed school district.

"Some of our friends thought we were crazy," says Ludwin, who grew up in the South Hills.

In buying the house and renovating it, he and Hetzer joined a small but devoted community of urban pioneers working to revive a neighborhood called Hamnett Place, a small slice of a borough that many have written off as unsalvageable.

One of the group's leaders is Kasey Connors, who's bought and renovated more than 40 buildings with some 100 units in Wilkinsburg over the last 25 years. Many are in Hamnett Place, a six-block section near St. James Church.

Pittsburgh History & Landmarks Foundation has also joined the revitalization effort. The organization is in the process of acquiring five abandoned houses in the 500 block of Jeanette Street and also hopes to rehabilitate a turn-of-the-century house at 811 Holland Ave.

"It has a really good neighborhood feel," says Landmarks chief programs officer Cathy McCollom. "People come out of their houses to talk when someone walks down the street."

Part of Hamnett Place's appeal lies in its wonderfully varied architecture, which includes everything from brick Colonials to Victorians and classic Four Squares.

"We have housing stock you could never afford to replace," says Connors, who manages her properties from an office in an old elementary school on Wallace Avenue. "We throw too much away in our society that still has a useful life"

Affordability is another big draw. In the first quarter of 2005, the median cost of a house in the Pittsburgh area was $106,400, according to the National Association of Realtors. By comparison, a two-unit building at 712 Whitney Ave. went for $15,000 last December, and a 2,400-square-foot house across the street sold for just $5,000. A 5,000-square-foot, four-unit building at 819 Holland Ave. sold in April for $3,000 plus back taxes.

	Pam Panchak, Post-Gazette Above: Chuck Ludwin's remodeled house at 709 Whitney Ave. Below: Chuck Ludwin says urban pioneering requires dedication not only to your property but to your neighborhood. Click photo for larger image.

Granted, these properties require major renovations. But if you buy a multi-unit building and are willing be a landlord, it can almost pay for itself, says Connors.

Just be prepared to look hard for that diamond in the rough, because they're often sold via word of mouth.

"Nothing gets a sign because homes sell for so far under market value," she says. "Realtors don't want to list them."

In the case of abandoned houses, it can also take months or even years to untangle all the red tape and track down the liens.

Occasionally, though, a home will find its way to the West Penn Multi-List. A 2 1/2-half story Colonial at 813 Holland Ave., for example, is currently listed by Watson Real Estate at just $9,500. Built sometime in the early 1900s, it features three separate one-bed, one-bath apartments and a detached garage with three parking spaces. According to listing agent Jim Watson Jr., the house will require a "total overhaul" before someone could move in.

But how do you know if you're cut out for urban pioneering? For starters, you should be the kind of person who, in addition to being confident and savvy, can "see through to the bones," says McCollom. It also helps if you're handy with a hammer or have a network of friends from the trades to whom you can turn for advice. And because Wilkinsburg is still considered a neighborhood very much on the fringe, you have to be something of a risk-taker.

"It could go either way," says McCollom. "You can be investing in an area that could be really great or putting your money into an ever-shrinking market. So you want to go into it with your eyes open."

"It's not for everybody and probably not for most people," agrees Mark Harvey Smith, who in 2001 purchased a four-unit building on Rebecca Street and ended up writing a book on urban pioneering, "Boldly Live Where Others Won't" (PublishAmerica, $19.95, www.boldlylive.com).

Smart buyers get out and talk to other urban pioneers before they buy and listen to their answers. After they buy, he says, they become part of the community.

Ludwin, who ended up painting his house a fanciful combination of burgundy, pink and white, agrees that you have to be dedicated not just to your space, but the entire neighborhood.

"You have to get involved in trying to improve it," he says.

Ludwin's home is now one of the neighborhood's most charming houses. Inside, a vivid color scheme (mint green in the living and dining rooms, pumpkin in the halls) showcases the high baseboards and original woodwork. And that cozy little porch off the second-story hall holds a barbecue grill and a set of wicker furniture.

What makes the house all the more amazing is that most of the rehab was done on the cheap. Unable to afford new carpeting, he finished the wooden floors by hand and covered them with vintage Oriental area rugs he got at house sales.

The ceramic tile in the kitchen floor was on clearance at Home Depot, and the green counter tops were gleaned from Construction Junction. The bathroom features woodwork from an abandoned house.

Even the refurbished Detroit Jewel gas stove from the 1930s, which Hetzer gave to his partner as a housewarming gift, was a deal -- just $125 at an antiques store on Penn Avenue.

"It was in the window so long, the owner just wanted to get rid of it," says Ludwin with a smile.

Sadly, Hetzer passed away just six months after moving in, before the restoration was complete. But he'd be pleased with the results.

Like many urban pioneers, Ludwin concedes that he's probably put more into the house than he would get if he sold it. Then again, it was never about the money. And he's not selling.

"I would never move from here," he says. "This is my dream house."