Buying a property after criminal event?

[Martin Elkins]

This is my first time posting so take it easy on me!  I've been getting really interested in real estate investing, in case my presence here didn't give it away, and I've been doing the typical newbie reading and finally getting to the point where I want to buckle down and start looking for my first deal.  Which leads me to sort of an odd question, or rather a question about the efficacy of an odd situation.

Unfortunately, there was recently a homicide at a home in an area near me.  This is pretty awful but I'd like to look at it objectively.  The home where this occurred is up for sale.  It is in a pretty nice suburban neighborhood and the crime was random (which is to say there would be no objective reason living here would be unsafe moving forward or tied to anything unsavory).  

Now to my questions.  I like data so if you have any to support your answer please share

1) Assuming first that the home is in good repair, no liens, nice neighborhood, etc etc....I assume that this house is going to be undervalued because of it's recent history.  Is there data that might confirm or deny this?  What do you think?

2) Intuitively, one might think that renting out or selling a place where someone was recently murdered might be difficult, but I would imagine that would diminish with time.  Is there any data to support wether or not the crime would have a permanent impact on the homes rentability or overall value?  If there is only a temporary impact, what would the refractory period be?

I guess this all boils down to:  Someone was murdered in this house.  I think it will sell for cheaper than it's worth and that I will be able to rent it out quicker than most people might think considering the events.  All things equal, buying a house undervalue is a good thing.  Do you think this is a good idea? Why or why not?

Thanks!