Footscray - 2Br Victorian home near train tracks

Hi all

I'm very new to property investment, and just after some advice for my first investment property. I came across this nice looking Victorian 2Br home in Footscray (Raleigh st) being quoted at $500k+.

http://www.realestate.com.au/property-house-vic-footscray-117675527

Location wise it's very good, being 3 minute walk to a train station, 5 minute walk to Seddon Village and 6km from CBD. Downside is that its located right next to the train tracks.

I know that being close to the train tracks can affect CG and rental income, but based on your experiences, has this been a main deterrent for 1) tenents looking to rent 2) longer term capital growth?

Thanks in advance.
FTO
 
It will definitely affect CG and potential renters. Not just the fact is is facing a train line, but also if you do a street view on google maps you can see cars parked all along at the front of the street and 10 meters away is a massive car park for commuters. This may not put off all renters, but it would put more than a few off. IMO for $500K+ in footscray, there are better properties in better streets, west footscray is the pick of the western suburbs
 
That's a better street and a nicer property. They are asking a lot for a townhouse with no parking and 2 bedrooms/1 bathroom. If you spread your search to west footscray and Maidstone you will get much better value for money
 
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