You will most likely need to be a screaming deal when you turn to sell, so make sure that is the case when you buy the home. As long as you love the house and your comfortable with the location, noise, etc.. then go for it. Again, just make sure it's a screaming deal to justify the location.
Please feel free to contact me--215-850-4524. It would make things very easy on your home search because of our location being the same.
Eventhough the price in one of these locations may be attractive.....keep in mind, when you are ready to sell, your future buyer will be seeking the same level of opportunity.
I believe that you are talking about SEPTA railroad tracks that carry commuters from East Falls into Center City. There is a slight negative if the house is really close to the tracks. On the other hand it is a plus to be near the station for anyone who needs to commute into the City. If that is your situation, you will be like a lot of buyers who choose East Falls because it is a lovely area overlooking Kelly Drive the Schulykill River, and and easy commute.
Before you decide, you might contact the RR company and find out how many times the train passes that area. Also, find out where the closest crossing is becaue the train has to blow a warning before crossing where cars cross. That could make it a lot worse if there is a crossing close by.
Remember in real estate the most important thing is location, location.