There can be circumstances where being across from a school and paying 1.1 Million would be a bargain. It depends where this property is located, what the neighborhood is like, etc. Many other factors to consider.
Example : Warner Elementary school in Westwood (LA, 90024). If you can buy a house across the street from that school for under 1.5M, you are getting a bargain. Most would be in the ~ 2 million range.
