Does the value of a home go down if right next to a school?

[Jessica S]

We are looking into a 1916 bungalow in northern ca. The home is in a terrifc neighborhood but is litterally right next door to juionr high.

They are asking $399 for the home, 3 bed 1 bath, 1088 sq feet on a 2088 square foot lot. The home is in good condition and has been on the market since September. Does this seem like a reasonable price?

There is also no drive way or garage....

Thanks for all who respond, we are just trying to determine what to put our offer in at. They bought it for $391 in 2004...