There's still some holdouts in the flats, but you're right, it's not really the 'punk neighborhood.'
I have a friend who bought a fixer-upper for $10k in Polish hill, and another who bought an abandoned house in Larimer (actually nicer than you'd think... both the house and the neighborhood, then again, I have a high tolerance for this) for $5k.
Yeah, $75k is what you need for a decent, immediately-habitable house in a happening neighborhood like Lawrenceville.
If you're willing to, y'know, take a bus or walk a few more blocks to a neighborhood center, and you can do some work on the house, a house costs ε dollars in Pittsburgh.
I have a friend who bought a fixer-upper for $10k in Polish hill, and another who bought an abandoned house in Larimer (actually nicer than you'd think... both the house and the neighborhood, then again, I have a high tolerance for this) for $5k.