Vandalism causes value of empty Memphis school to plummet

Aug. 1, 2012
Prospect Elementary had been appraised at $1.35 million, but sold for only $210,000

From The Memphis Commercial Appeal: Vandals have cost Memphis City Schools more than $1 million in a real estate deal. The school board has voted to sell vacant Prospect Elementary for $210,000 – $1.14 million less than the $1.35 million it was appraised at in March 2011. School officials say everything of value in the 18-classroom school has been stolen or broken, including toilets.

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