Single Young Professional looking for SFH ~400k, best neighborhoods for value growth (Atlanta: for sale, condo)

[AlfonzeTheRAT]

I am a younger single professional (~29) who is looking at potential homes in the Atlanta area. I've identified a number of condo options in trendy areas which I'm considering, however I've lately been interested in the prospect of getting a smaller single family home (max 3 bedrooms) with at least a carport or small garage. I would have a budget of roughly ~400k depending on property taxes, maybe slightly more for the right space.

I can work from home but may need to go to midtown occasionally & would like to be reasonably close to nightlife if possible. Commute is not a concern as I am flexible work arrangement wise.

I was wondering which neighborhoods locally might be good options for the most rapid price appreciation within the next 3-7 years. I'm also considering options in more established neighborhoods as well. I am generally not afraid of up and coming or rougher areas. I've heard some about the west end which seems to have some decent options but worry about if it will feel a bit isolated for a single person.

[bizchick86]

West End won't feel isolated. But Westview, which is right next door, will be a better value. West End is at some of the highest prices it's ever been.

Generally speaking, the best values are going to be south and west of downtown. As a young person who wants to be near some nightlife though, I think Westview and Mechanicsville are the best fits. Summerhill and Peoplestown are going to turn around faster than any other southwest/west neighborhood, but you're about a year or so past the "value" stage.

Because a lot of the resales in Mechanicsville are a bit newer and Westview is more of a historic district, it may be a challenge to find a garage out there. Poke around anyway because you might get lucky.

Some pros about each neighborhood

Westview
-If you prefer historic neighborhoods, you would appreciate the housing stock here. There are a range of huge Crafstmans and smaller bungalows being sold.
- Very active community that plans neighborhood events and there's lots of neighborhood pride
- Right on the Beltline
- Easy access to two train stations: West Lake (which is closest) and West End (about 2 miles or so away). Both of these are a short bike ride away and Relay bike share stations serve both neighborhoods
- Has a historic commercial retail district that is steadily attracting new tenants
- A huge new park is being planned that will be a big boon to the neighborhood

Mechanicsville
- Close to the nightlife of Castleberry Hill
- Closer to downtown/midtown than Westview
- Close to the HUUUGE mixed use retail/residential developments coming to Turner Field in Summerhill
- Houses are newer than Westview, which could be a good or bad thing depending on your preference. Many were built in the last 20 years when it was expected the area would blow up. It cooled off after the recession but has ramped back up. So you might find some relatively new builds out here with garages
- A couple of parks already serve the area
- Expected to get a Marta infill station

Hang out in both neighborhoods, because they have very different vibes. Attend community board meetings and get a sense of who your potential neighbors might be. Drive around at night and in the day. Since they're both up and coming, you want to make sure you like the area and feel safe.

ETA: If you can find a fixer upper in Summerhill or Peoplestown, you may be in a better position to see home appreciation faster than any of of the southern/western neighborhoods. The west side is hot right now, and in my opinion I don't see a ton of room for appreciation in some of the new flips over the next few years. I think it'll some time to realllly get a solid ROI on homes that are nearly 400,000 in Westview, for instance. You'll see some appreciation, but just not as much as Summerhill and Peoplestown over the same period if you can squeeze into their market.

[samiwas1]

If you want to start low and aim high, but possibly have a bit of a rough ride, then the neighborhoods south of I-20 on the west side of the connector (West End, Pittsburgh, etc) would be a good choice. On the plus side, these are almost a sure bet for investment purposes.

But up in my area near Bolton (coined "Upper Westside" now), you can get some pretty decent houses for $400k around LaDawn, and I think the value will go up somewhat once the Quarter and Westside Village open up in the next year or two. It's certainly not an isolated feeling around here.

[samiwas1]

Originally Posted by bizchick86

ETA: If you can find a fixer upper in Summerhill or Peoplestown, you may be in a better position to see home appreciation faster than any of of the southern/western neighborhoods. The west side is hot right now, and in my opinion I don't see a ton of room for appreciation in some of the new flips over the next few years. I think it'll some time to realllly get a solid ROI on homes that are nearly 400,000 in Westview, for instance. You'll see some appreciation, but just not as much as Summerhill and Peoplestown over the same period if you can squeeze into their market.

Yeah...I saw some houses pop up for sale just south of Summerhill and the High Point area which were really nice-looking houses, and my standards are higher, for under $300k. If I wasn't as concerned with schools, the area, and I wanted to ride it out for a few years with my family before the area improved, I'd snatch one of those up in a heartbeat.

[brown_dog_us]

Originally Posted by bizchick86

Because a lot of the resales in Mechanicsville are a bit newer and Westview is more of a historic district, it may be a challenge to find a garage out there. Poke around anyway because you might get lucky.

If the lot has room you can add a simple 2 car garage for about $20k.

[3rdbass]

You can still find a 3/2 in the edgewood with a possibility of a carport or one car garage for $400K. I think this area is going to appreciate fast with all the stuff they are building around here and at the Edgewood Marta Station. It is close to Marta, Little Five Points, Belt line, Coan Park and Kirkwood.

I think you can get what you want for way less than $400 K on the west side of town so expect more appreciation there. I would stay anywhere next to the belt line though.

So it is just going to be whether you want to buy low and get more appreciation or buy higher in a area that has already been gentrified but whose prices will still go up in the foreseeable future.

[AnsleyPark]

Check out Vinings. You should be able to find something there.

[equinox63]

Originally Posted by bizchick86

West End won't feel isolated. But Westview, which is right next door, will be a better value. West End is at some of the highest prices it's ever been.

Generally speaking, the best values are going to be south and west of downtown. As a young person who wants to be near some nightlife though, I think Westview and Mechanicsville are the best fits. Summerhill and Peoplestown are going to turn around faster than any other southwest/west neighborhood, but you're about a year or so past the "value" stage.

Because a lot of the resales in Mechanicsville are a bit newer and Westview is more of a historic district, it may be a challenge to find a garage out there. Poke around anyway because you might get lucky.

Some pros about each neighborhood

Westview
-If you prefer historic neighborhoods, you would appreciate the housing stock here. There are a range of huge Crafstmans and smaller bungalows being sold.
- Very active community that plans neighborhood events and there's lots of neighborhood pride
- Right on the Beltline
- Easy access to two train stations: West Lake (which is closest) and West End (about 2 miles or so away). Both of these are a short bike ride away and Relay bike share stations serve both neighborhoods
- Has a historic commercial retail district that is steadily attracting new tenants
- A huge new park is being planned that will be a big boon to the neighborhood

Mechanicsville
- Close to the nightlife of Castleberry Hill
- Closer to downtown/midtown than Westview
- Close to the HUUUGE mixed use retail/residential developments coming to Turner Field in Summerhill
- Houses are newer than Westview, which could be a good or bad thing depending on your preference. Many were built in the last 20 years when it was expected the area would blow up. It cooled off after the recession but has ramped back up. So you might find some relatively new builds out here with garages
- A couple of parks already serve the area
- Expected to get a Marta infill station

Hang out in both neighborhoods, because they have very different vibes. Attend community board meetings and get a sense of who your potential neighbors might be. Drive around at night and in the day. Since they're both up and coming, you want to make sure you like the area and feel safe.

ETA: If you can find a fixer upper in Summerhill or Peoplestown, you may be in a better position to see home appreciation faster than any of of the southern/western neighborhoods. The west side is hot right now, and in my opinion I don't see a ton of room for appreciation in some of the new flips over the next few years. I think it'll some time to realllly get a solid ROI on homes that are nearly 400,000 in Westview, for instance. You'll see some appreciation, but just not as much as Summerhill and Peoplestown over the same period if you can squeeze into their market.

Very thorough commentary. I think I remember you looking in that area a while back. Did you ever eventually move to 30310?

[bizchick86]

Originally Posted by equinox63

Very thorough commentary. I think I remember you looking in that area a while back. Did you ever eventually move to 30310?

Thanks! Can't remember what I mentioned looking at before lol. But I am definitely looking at the area now!

I'm really drawn to historic architecture with historic, walkable commercial districts. And Westview/West End have better infrastructure for that. Most of the other up and coming hoods (Grove Park, Adair Park, Capitol View, Mechanicsville, etc) have one or the other, but not both. So I'm starting to feel like the time to buy into an ideal neighborhood with my budget is rapidly closing!

[Forhall]

I 2nd the "up and coming" east side neighborhoods. They have gentrified very quickly and are still doing so at a quick place. This mainly includes Edgewood, Kirkwood, and East Lake. A big upside is that they are already extremely safe by any standard, and they have gotten to a point where they would likely make it through a downturn without regressing. They are bordered by very established and expensive neighborhoods on 3 out of 4 sides, with Candler Park and Lake Claire to the north, Reynodstown/Cabbagetown to the West, and Oakhurst (Decatur) to the northeast. There's still quite a bit of upside left and new projects going up in those areas, but you'd be in a safe and established community right away. Crime wise they are in Zone 6, which is the safest of the Atlanta police zones currently.

I would recommend the West side or even Summer Hill or Peoplestown as well with all the new projects and investment there, but the problem is it's a more risky bet. More upside, but less safe now and no gaurantee it will ever "make it" before an economic downturns pulls out all of these shiny new projects. Most of the growth on these areas is speculative, with people buying into the future neighborhood rather than what it is now.