Probably the most relevant consideration when planning a renovation or repositioning of a property is how much the local area will support the reinvestment. A ranking system of A, B, C, or D is given to a neighborhood based on a number of factors.
Class A: high-income earners, very affluent neighborhood, expensive homes nearby
Class B: white collar, upper middle-class part of town, good schools, safe neighborhood
Class C: blue collar, low-to-moderate income neighborhood, older and smaller homes
Class D: high crime, distressed real estate, very bad neighborhood, scary at night