New construction appraisal in a rundown neighborhood

[Sarah Van Way]

To make a long story short, we had our new construction duplex appraise for a lot lower than we were expecting. It is in a pretty run down neighborhood, but we are getting very high rent. Income approach values at 250k. Sales approach and cost approach value at 170k and 190k to give you an idea. However there have been no recent sales. We do own multiple lots in the neighborhood and plan to build more. Is it worth sticking it out and building more units to basically flip the neighborhood with all new modern construction? If we completely own all units and future units and there's no sales, will appraisal value (sales and cost approach) ever change? This might be a dumb question, but I just have no real knowledge in this world of appraisals. Please help if you have any experience with these scenarios! Thanks!