Do Power Lines Hurt #RealEstate #MarketValue?

It’s Foreclosure Saturday! We have a standing appointment to meet with our Real Estate Broker every Saturday to look at candidates for purchase. We met to view a large townhouse that has been foreclosed twice in the past 4 years. The townhouse has 3 bedrooms and 2 full baths on the upper level; a large kitchen, living room and half-bath on the middle level; and a large den, family room and laundry room on the lower level.

Eat-In Kitchen w/ Granite Countertops beginner real estate investor how to invest in real estate — Eat-In Kitchen w/ Granite Countertops

Fannie Mae has painted the interior of the townhouse and installed new carpets and flooring. Total square feet of finished living space is 1,895. The asking price is 18% less than comparable properties in the area. Why? In our opinion, the price has been discounted because there are power lines running behind the townhouse. Studies indicate that the evidence of power lines reduce property values between 1% and 10%.

View of Power Tower from Master Bedroom beginner real estate investor how to invest in real estate — View of Power Tower from Master Bedroom

Rents for comparable properties range from $2,100 to $2,200 per month. The mortgage estimate from Zillow is $1,003. The numbers work! However, we are torn between a large, beautiful townhouse and unsightly power tower/lines behind the property.