Flipping a house near a Cemetery

Investor · New Haven, CT · Member since 2012 · 285 posts · 175 votes

How do potential buyers rate a house near a cemetery? This house I am looking at backs-up on a small cemetary. Otherwise the neighborhood is great and the house is close to shopping.

Has anyone tried to sell a house near a cemetery? and how did it go?

Any realtors/appraisers out there that can give me some help on how you rate/value this type of property.

This link shows the house and the cemetery.
http://binged.it/TV6iwt

21 Chidsey Ave, East Haven, CT 06512

0 Reply

48 views

Most Popular Reply

Ann Bellamy

Lender · Tyngsboro, MA · Member since 2009 · 3k+ posts · 2k+ votes

13y

Well, it should be quiet, unless it's haunted.

3 Reply

See this reply in the discussion

17 Replies

Jump to latestLatest

Sort by

Ann Bellamy
Lender · Tyngsboro, MA · Member since 2009 · 3k+ posts · 2k+ votes
13y
Well, it should be quiet, unless it's haunted.
3 Reply
Bill Gulley
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
13y
No complaints about your party either I'd bet. It could be tuff selling as people are just dying to get in next door! Stiff competition I'm shure.

Depends, some small cemetary in back that has very little visitations or traffic might not be a problem, especially if you have a privacy fence (which should be there BTW). A row of cedars or evergreens could buffer the lot as well, out of sight out of mind.

I financed a property near a National Cemetary, the appraiser knocked off 5% as I recall, an unusual deal, but it was really about the traffic, number of burials there, taps being played, etc.

We also have an upscale area close to a cemetary, has no effect there really and everyone has fencing.

Need to ask an appriaser in that area how they would view that one issue.

ps. don't let the zombies get ya!
0 Reply
Joel OwensBusiness Member
Moderator
Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
13y
You could market to buyers who are into ghosts and that kind of thing.

What some buyers see as creepy they would see as cool.

They could have a great back drop for a Halloween party each year !
Podcast Guest on Show #47
NNN Invest53 Reviews
Website View Page
0 Reply
Leon Y.
Real Estate Investor · Las Vegas, NV · Member since 2011 · 117 posts · 28 votes
13y
No Asian would ever buy it...
0 Reply
Rick H.
Lender · Greater LA/Orange County area, CA · Member since 2012 · 3k+ posts · 3k+ votes
13y
@Leon Yang - you pretty well nailed it. However, unless Asian buyers are the only demographic buying in an area (sometimes that's a fact where I live in So Cal) it's just to take longer to sell.

I've only have one property right next to a cemetary, an older post war SFR near Oakland. I got it via one of my probate loan deals when admin couldn't keep the payments up. It backed right up to an older cemetary. Thought it was going to be harder to sell, but the market was strong at the time and the buyer was more interested in getting a fixed house.

This house certainly qualified as a fixer. Truth be known, I never went inside, didn't need to, didn't want to.

Are the any other demographic groups that would have a problem based on spiritual, phylisophical or other considerations? I'd sure like to learn of any.
0 Reply
J ScottPro Member
Moderator
Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
13y
Personally, I always thought that buying near a cemetery was a bad thing and never, ever would have considered it. Then I was out driving with two investor buddies of mine a couple months ago and we looked at a property near a cemetery. I made a comment about it being in a bad location, and both of the other guys were confused about why I would say that. After some discussion, I realized that they saw absolutely no stigma associated with it.

For what it's worth, I'm from the northeast and they're both from the south. Maybe it's a regional thing. Or maybe it's just what you're accustomed to from your upbringing.

Not sure, but clearly, there is some disagreement about whether it's a bad thing or not.
Podcast Guest on Show The Truth About Real Estate Investing in 2024 (What Investors NEED to Know)
0 Reply
Will BarnardPro Member
Moderator
Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
13y
I would estimate that is is less of a disadvantage than being on a main street or near airport/train tracks, however, I would reduce the exit value by 2.5%-5% when calculating all the numbers.

As another stated, your demographics are also important. See which demographic is buying in that area and if it happens to be largly Asian, you would want to avoid it, otherwise, just allow for a slightly smaller exit value to cover your potential of a few less on your buyers pool.
Podcast Guest on Show #130
0 Reply
Glenn Espinosa
Rehabber · Alexandria, VA · Member since 2011 · 446 posts · 171 votes
13y
I'm Asian and I would totally buy it. IF the numbers were right for me to flip it that is.
0 Reply
Leon Y.
Real Estate Investor · Las Vegas, NV · Member since 2011 · 117 posts · 28 votes
13y
I would flip it too...but then I'd get years of bad luck. Haha.
0 Reply
Rob K.
Investor · Southeast, MI · Member since 2012 · 2k+ posts · 1k+ votes
13y
Why are Asians afraid of cemetaries? I have never heard of this before now? Also, why is it ok to make such a huge generalization like that, but if I make any observation about certain races or ethnicities, people get all offended?

I remember when I was a kid, friends of the family lived across the street from a cemetary. We used to play "ghost in the graveyard" there. It made it extra scary.

If I were selling a house near a cemetary, I would list the positives like the fact that it will be quiet there and you will have no neighbors. I would think it might take a little off of the value as some buyers won't want to live there, but I don't think it would be any worse than being on a main road.

0 Reply
Rick H.
Lender · Greater LA/Orange County area, CA · Member since 2012 · 3k+ posts · 3k+ votes
13y
@Rob K - I don't have any idea why some cultures do certain things (or avoid certain things).

My observation is that a behavior, trend, belief or value that is based on a demographic or psychographic is not necessarily racist, let alone pejorative, and here is intended as a unbiased assessment or a market trend.

Now, being of primarily Irish ancestry, if someone were to make a comment about Irishmen and, say, whiskey and fighting. I might be tempted to fight over it, maybe even get drunk over it, because that's obviously intended as a pejorative comment.

Of course, from a marketer's standpoint there's little demographic to be learned about that statement, except that it might be smart to position your alcohol product as "the whiskey to drink when you want to fight."

Some consumer behaviors appear peculiar to those of us outside the culture. For example, why do members of a certain religion have a fondness for homes with exterior brick facades? I haven't a clue why, but it seems to be the case.

As to the concern over the cemetary issue, the point is probably that some people -- and cultures -- care a lot and would not consider the purchase.

Quiet, pastoral and expansive to some, proximity to a cemetery is likely to have fewer buyers in some areas where prospective buyers with cultureal biases run strong.
1 Reply
Leon Y.
Real Estate Investor · Las Vegas, NV · Member since 2011 · 117 posts · 28 votes
13y
Rob K It is really the demographics. You can ask 100 Asians whether they'd buy a house next to a cemetery I'm sure at least 90 of them would say no. It is not a generalization thing it is the culture as a whole. Like how Americans celebrate Christmas Asians celebrate not living next to a cemetery. That's all.
1 Reply
Kama Ward
Investor · Asheville, NC · Member since 2012 · 184 posts · 76 votes
13y
I've known two families who lived backing up to graveyards. One was a successful business person who could live anyplace they chose. We always enjoyed it when visiting.
I have another friend who lives one short block from an old graveyard. People in their neighborhood look on it as a positive, as a park to walk in. This a safe historic-type neighborhood.
There are several graveyards in the neighborhoods I buy in (also old, safe). None of the houses next to the graveyards sell at a discount. 95% of my buyers are white.
I'd say it depends on context.
0 Reply
Will BarnardPro Member
Moderator
Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
13y
To sum it all up here, buying a flip deal next to a cemetary should be looked at as a small reduction in value and nothing more unless the demographics create an adverse condition for you in which case you would likely pass.
Podcast Guest on Show #130
0 Reply
Ron K.
Professional · Altoona, PA · Member since 2010 · 72 posts · 23 votes
13y
I don't know about selling but I rent a SFH that borders a cemetery. My past tenant loved it, she told me she would use it for her daily walk. I now see it as a selling point and talk it up.
0 Reply
Cenddie Alaban
Chicago, IL · Member since 2017 · 62 posts · 15 votes
9y
I'm Asian and I'm buying a Duplex next to a cemetery. Unlike where I live now, there will be no loud music, prolonged argument or gunshots.
0 Reply
James Barnhart
Rental Property Investor · Ocala, FL · Member since 2016 · 226 posts · 140 votes
9y
We bought a house to flip that was located across the street from a cemetery, in 2014. My wife and I didn't see any problem with that, but she said it would be a turn off for some people.
I liked it because there were not going to be more homes built there, and it was quiet.
But, for some reason, it took about 4 months to sell the house. I was somewhat surprised. Maybe the cemetery bothered some folks.
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.