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Is Boulevard This O4W Home's Achilles' Heel?

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If we had a dollar for each time we heard how sizzling the Old Fourth Ward housing market is, we'd have, like, $43. So it comes as a surprise to see a price reduction in the Beltline-connected neighborhood. This restored 1920s bungalow looks enticing enough, with its three bedrooms, spiffy hardwoods, 10-foot ceilings and nearly 1,800 square feet. Hell, it has three fireplaces. And a big, fenced backyard, just begging for a deck. It's an easy stroll from here to the Historic Fourth Ward Park and eateries like Highland Bakery. So why was the asking price slashed by $25,000 to $300,000 earlier this month? Further, exhaustive investigation reveals the home sits about a block east of Boulevard, and the front porch, while spacious, looks onto a parking lot behind the medical complexes across the street. While ongoing efforts to clean up Boulevard have been honorable, the thoroughfare notorious for open-air drug deals and sporadic gun violence clearly has a ways to go. Still, this is the sort of real estate bet that could pay off. It last sold, ostensibly pre-renovations, in November for $140,000.
· 500 Ralph Mcgill Boulevard NE [Zillow]