I lived in East Gadsden as a kid. Wasn't pretty then and definitely worse now. Deliveryman seems right on to me regarding the whole area. I still have a good bit of family in the area and still love the Lookout Mountain area. Attalla is looked down on by some, but there is some pretty real estate in that area sometimes, as well as in Mountainboro, Duck Springs, and the Sand Mountain area. Glencoe is worth checking out, just for God's sake don't speed through town. There are places with reasonable and/or beautiful real estate--just get out of city limits.
Man, I had forgotten about Penny Profit. Used to be a great place.
Good luck, Ping.