East Austin - between 11th and MLK (West, Howe: to rent, condos)

[milytaylor]

I wanted to get an opinion about East Austin living between 11th and MLK. It seems the other threads deal with the 6th Street Area or the areas around Manor/Mueller.

I moved to Austin at the end of February and am currently I'm renting near 51st and 183. I don't want to throw away my money on rent next year so I'm looking around the neighborhoods.

I love the East Austin area and the diversity it offers. I love the short commute to work and the fact that it is easy to get to the other areas of Austin. However my co-workers think I'm nuts for even considering purchasing a home in the East Side.

I've checked out the areas South of Ben White(not my style - I was not feeling it and the traffic on the south side is horrendous), 78704(too expensive), West and North (really out of my league price-wise).

As I'm driving around the East neighborhoods, I'm finding evidence of nice homes interspersed with those that need to be torn down. It seems like the area is building up along MLK and to the south and north of 11th street. A couple of the properties that I'm interested in are around 12th, 13th, and 14th streets. I'm hoping that with the build up of those areas, it'll all come together in about 10 - 15 years.

I tried looking at Zillow, but it is no help.

I'm single, late 30s, with no kids (unless you count my pets).

Am I reading the area correctly or am I engaging in wishful thinking?

[centralaustinite]

12 and Chicon is still ground zero in Austin for scoring serious drugs and there is a heavy homeless presence BUT you are absolutely right, there are some nice homes going in and rehab. I am in that neighborhood a lot and short of the precise 12th and Chicon intersection, I feel safe in the daytime. I like that area just south of MLK and north of 12 street especially around Chestnut and around Gaza High. BUT rehabbing, new construction etc raises the property values of long-term owners and there can be tension and resentment towards newcomers (there can be warm welcomes too but it is hard to know until you are living there). Home values can rise and they can fall too.

Do you have street smarts? Do you know how to handle yourself? Those 10-15 years "waiting for it all to come together" can be pretty long.

Renting is not throwing money away. Rent in the neighborhood first, many of those newer houses are sitting vacant. Try to rent one for a year. You might be able to buy that very house if you find it is paradise and if it is not, you can walk away and let someone else take the financial hit of trying to sell it.

good luck

[milytaylor]

Thanks for the advice. I had no idea when I was scouting that 12 and Chicon was ground zero. Which then probably answers your question about street smarts and handling myself. In the few months I've been here, I've come across more diverse cultures than I have in my entire lifetime.

I'll definitely approach the sellers about renting their vacant home. It would be a great deal for both of us.

Thanks so much for the advice!

[CptnRn]

Dozens of drug arrests only scratch surface of problem (http://www.statesman.com/search/content/news/stories/local/2009/06/28/0628bust.html - broken link)

35 drug warrants issued in sting; man arrested in I-35 hit-and-run (http://www.statesman.com/search/content/news/stories/local/2009/06/26/0626roundup.html - broken link)

The integration of Austin (http://www.statesman.com/search/content/metro/stories/archive/race/071501_integration.html - broken link)

New life for East Austin (http://www.statesman.com/search/content/metro/stories/archive/race/073103_nonprofit.html - broken link)

[kingugly]

Renting is not "throwing money away" when it's research. Centralaustinite gave great advice. I think it's definitely worth looking into a home on the east side if that's what your price range is. Even if it never becomes a "safe" neighborhood, with it's proximity to downtown you should be able to at least get back what you put into it.

[verybadgnome]

I match your demographics almost perfectly and just put a contract today on a home in the Holly St area. I say just do your research on a given area and become very familiar with it on a first-hand basis. Some areas on the east side have almost completely gentrified while others will take 10, 20 or more years. There is still public housing, e.g. Chalmers, that attracts negative elements and there still seems to be a problem the further east you go. In the long term a smartly chosen property will yield big dividends while even a less wise choice will be competitive with other, farther out, areas of austin from a ROI perspective. The area will get a small bump from the rail (when it eventually opens) and the Lance Armstrong bikeway (when that too gets built). There will also be some spillover development from the CBD along with the 12th Street corridor redevelopment which should solidify the east side further.

[milytaylor]

Thank you everyone for all the wonderful information on here! You all (y'all?) have been a big help!

[AustinAaron]

I agree that 12th & Chicon is most likely NOT the highlight of E. Austin. However, I've sold condos a 1/2 block off MLK, on E. 11th Street, and have a good buddy that just bought a brand new home off Salina @ 11th. He loves. And so does everyone that goes over to visit! The day he bought his house and investor came in and purchased 2 dilapidated homes on either side of him. They'll be getting complete rebuilds. And I currently have 2 clients shopping near the exact same area you mentioned. One in the $600k+ range.

Action is happening in E. Austin! If you're down for it, that's all that matters. Who cares what everyone else says. Buy what you want, where you want.