New build vs Older build

[Long H.]

I’m looking to house hack, and have been exploring the option of buying a new build duplex over an older build.

I know the new build duplex will easily appreciate, is in a new subdivision and will save me cost of rehabbing for at least 5 or so years. But conversely it is going to cost more than an older build.

The older duplex is closer to a college downtown area, already has a tenant, was recently rehabbed, and is cheaper than the new build. However it is in a flood zone, the property value has dropped but has been on the market for almost 60 days (possible red flag). 

Both duplexes have seemingly have pros and cons that counter each other out. I am leaning more towards the new build, but I am also tempt to buy the older build as it seems to be a done deal. Thoughts?