Thoughts on location factors

[Ricardo Navarro]

Hey guys. I wanted to put a feeler out to you guys on a situation I am looking at right now. 

I am currently looking at a property that looks like if it was half completed through and renovation. The property at first glance looks decent. Good bones. Dry basement, newer roof. Completely gutted so the walls are open. Still a ways to go but it looks like rough mechanicals are in place. 

My question is this, this house is neighbored by a small church on its right, a semi vacant parking lot on its left, the backside of a charter middle school that is the entire block directly in front of the house. The location of the property is on the outer fringe of a very desirable area, (Walking distance, 3-4 blocks tops). The house is on a dead-end street with only 3 other properties on the street. Are any of these factors cause for concern for you guys when thinking about resale values or resale speed? 

The plan is a flip. The ARV's can fluctuate from street to street and the variance could be pretty wide if you miss on your numbers so we're just trying to be sure.

The seller has dropped the price 4 times since july of last year. This is also something we're investigating into.  Thoughts?