Danville, Virginia

Population: 42,852
House styles: A high-low mix of stately Victorian-era and Edwardian houses, Craftsman bungalows, and workers' cottages
Expect to pay: Houses needing work can be had for as little as $10,000; you'll pay about $150,000 for a move-in ready place

Danville, a city founded on tobacco in 1793 that later added textiles as a major industry, was once a wealthy trading hub on the North Carolina border. Its richest residents lived in the ornate Victorian-era mansions lining Main Street's Millionaires' Row; one of these houses even served briefly as the capitol for the Confederate States during the Civil War. But the area's fortunes dried up as the textile mills closed down, leaving behind beautiful old bones but little economic opportunity. Though some of its historic buildings have been demolished, community efforts to preserve the downtown River District have taken root in the past few years, and the city is widening sidewalks and spiffing up streetscapes to lure people and businesses back to the area. Most of the Millionaires' Row houses have been restored, but several other neighborhoods have properties up for grabs at rock-bottom prices, including the Holbrook-Ross Street Historic District, founded in the 1870s by black professionals, and Schoolfield Mill Village, a neighborhood of small workers' cottages. A case in point: A refurbished 6,000-square-foot Italianate mansion, with seven bedrooms and six baths, that's listed on the National Register of Historic Places recently sold for only $262,000.

Among the best for: The South, Bargains, Cottages and Bungalows, Victorians, Waterfront, First-Time Buyers, American Heritage
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