Handyman Special

In real estate brokerage jargon, a property that is in need of repair, a fixer-upper. The implication is that the property is a bargain for someone who can accomplish the repairs economically.

In real estate classified advertising, generally refers to a house that requires extensive repair and remodeling, selling at a relatively low price.
Example: The Williamses looked at a handyman's special that needed new carpeting and repainting. They bought it for $50,000, spent $12,000 (not counting the value of their own labor) to repair it, then resold it for $75,000, providing them with a $13,000 profit.