The Graveyard Property

4 Replies

So...there is a property that has been on the market for over a year...it has had several large price reductions.  I'd say it would cash flow pretty well, and should have some built in equity.  I'm thinking it just hasn't sold because just beyond the fence in the back yard there is a cemetary.  Does anyone have some input about this? Will it be hard to find a renter?  Would it not get the rent it should actually get?  This property is on "THE" street you want to live on in this town.  Thoughts?

NA Cummins 

What are the other properties on the street? Owner occupied, rentals, vacant? I would say if they are all occupied and it is "THE" street to be on, that you shouldn't have any problems with it. If you find it is not renting easily or that you are renting it at lower than market rate, you might consider just flipping it and selling it if the other houses on that side of the street are also owner occupied.

its all sfr on the street/neighborhood.  Most properties are very large and expensive

DJ, you left out the part about Bethalto being haunted. 

That being said, I rent one that backs up to a cemetary without any problems.  I just say "you have quiet neighbors." 

Its personally wouldn't bother me, if it's a good rental price then I don’t see the problem

(Might even attract some ;)

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