Buying on a neighborhood border

Hello,

I am looking at a 3 bed 2 bath built in the late 90s. It's on a street of pretty much identical 3 2's built the same year. These houses are priced at $80-$90k. The one I'm looking at is a foreclosure for sale for $50k. I'm thinking about doing a live-in flip/brrrr. My only worry is that literally around the corner are $17k houses (2 bed 1 bath 1920). It appears that this block is an island or nicer houses in the middle of a not so great neighborhood. It's not a warzone but just a lot of foreclosures/vacant/old houses. 

Would this nicer house be able to get the rent that the house calls for? Or will the neighborhood likely drag it down? Will I be able to get a decent tenant? I know the first rule is location location location, but what happens when there's neighborhoods with houses that go from $15k to $50k to $100k all on one block?

Thank you