Does the location of the house on the lot affect home prices?

[Dannielle Givens]

Hey BP Chicago Fam, 

my husband and I are currently looking for a home to house hack that will be cash flow positive at least by year 2 of us living there (we expect to relocate back to Florida in year 2 or 3). We found this 3 flat in Bridgeport that sits on an oversized lot, but it sits at the back of the lot. It's almost like the property has a huge front yard prior to entering the home. 

When speaking with our lender, they alluded that where the home sits on the lot, it would impact the value of the home (assuming this would be less attractive). Does this sound about right? It is less attractive to have the home sit at the back of the lot vs. the front providing, let's say, more privacy for tenants and families?

[Randy Rodenhouse]

Sometimes the position of the house does have an effect on the value but overall not that significant from what I've seen. I would just interview a few agents in the area that have sold houses in that area and see what they think is the most common and desirable for their clients.