How much does geography play into how successful a deal is?

[Sydney Tiffany]

When analyzing a deal, how much of the success of a deal is based on the location of a unit. Im not talking about a home in a dodgy part of town as opposed to a home in one city opposed to another city close by.. Is this something I should be looking at before making a purchase or do you find that ultimately it doesnt matter as long as the deal is good? Thank you!