Someone wanting to buy a house > 1.1M, is likely worth at least a M (else, why are you looking at it). If you are like that, you likely want some privacy and peace. A school with heavy vehicle traffic is definitely not worth that. Can someone post a home that apprised for more than 1.1M (post bubble) next to a school? If a mortgage is needed, the appraisal may point it out. Though, something > 1.1M may be bought for cash.