This is old, but here's my two cents. Directly across the street from my parents house, where I lived for 23 years, are train tracks. There are weeks where a train passes every 2 hours night or day, and weeks where it passes only 1-2 times night or day. It is definitely loud, and will cause the house to vibrate. The noise never bothered me. As a child and adult I was able to sleep through it. Im sure it will take awhile to get used to it though. As far as value of the house.. I don't see much effect. It's a 3 bedroom, 2 bathroom house. Its not big at all, and nothing fancy. The house is in an ideal location besides having train tracks for a neighbor. 10mins from downtown, easily accessible from 2 major highways, excellent school district, and a grocery store less than a mile away. In my opinion the train tracks shouldnt effect a fair value of the house and property itself. If anything, they only make the location of the house seem less desirable.