Neighbor lot(s) empty - I assume that's bad?

Question

We came across a property that may fit our numbers for a rehab. However, I'm concerned about the location. The street is a nice enough neighborhood street, but the lot on one side as well as the rear neighboring lot are both empty. I assume this will lower our expected sales price? The lot on the side has recently sold for $30K, which could mean a house is being planned, but we can't count on that. The house we are looking at is listed at $95K, but needs more than average repairs, so our offer will definitely be lower. We are still working on the estimate as well as the final comps, but I thought I'd ask about the location here before investing too much time.

Since a picture is worth a thousand words, I've uploaded one here: http://www.try1stgolf.com/images/Image1.jpg

Please take a look and give me your opinion on the location. We are still pinpointing the exact ARV, but it should be in the neighborhood of $150K-%170K.

Thanks for any input you may have,

\ Henrik

Since a picture is worth a thousand words, I've uploaded one here: http://www.try1stgolf.com/images/Image1.jpg

Please take a look and give me your opinion on the location. We are still pinpointing the exact ARV, but it should be in the neighborhood of $150K-%170K.

Thanks for any input you may have,

\ Henrik

Rusty Thompson · Answer

How old its the neighborhood? If it's fairly knew then I don't think it will be a problem.if I was a buyer I would expect vacant lots. If its older out may be a slightly bigger issue, but I doubt it. Though you may consider doing some volunteer mowing on the lots to make sure they look kept up when you list.
Some buyers may actually like it since it means less direct neighbors