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Sleek O4W Home Presents Another Quandary — Or Does It?

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So here's a question: Earlier this week, we featured this home, which sits a stone's throw from Boulevard and has undergone a price reduction, a relatively uncommon occurrence in the Old Fourth Ward these days. Consensus among commenters was that the $300,000 bungalow sat too close to the long-troubled but improving corridor. Now, we find another O4W property for sale, sitting approximately two blocks from Boulevard. This tri-level home (above) appears to have undergone a solid renovation, with exposed beams, pristine hardwoods and speakers throughout. With four bedrooms and nearly 3,500 square feet, it's the kind of space that would fetch double the $450,000 ask a few blocks down its street, which happens to be Highland Avenue. All this begs the question: Is two blocks enough of a buffer for you, if the property is right? Does the Highland Avenue aspect trump the Boulevard one? (Note: Listing photos are a blend of pre and post-renovation shots; the gargantuan back deck appears to be gone. UPDATE: A visual drive-by confirms the photos with the decks are the more recent ones).
· 546 Highland Ave. [Redfin]