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Old 12-06-2014, 05:33 PM
 
Location: Pure Michigan!
4,344 posts, read 7,418,374 times
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In the small town where we live in SE Michigan $100k would buy you a decent, older, two bedroom house or an older three bedroom house that you would need to put some money into.

Our son and daughter-in-law live in a desirable, fairly upscale, outlying suburb of the Detroit Metro with highly rated schools where $100k would possibly buy you an outdated one bedroom condo with no garage.
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Old 12-06-2014, 06:06 PM
 
12,640 posts, read 10,487,316 times
Reputation: 17437
HAHA No. No, no, no.
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Old 12-06-2014, 07:23 PM
 
Location: Wonderland
44,668 posts, read 36,118,702 times
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You could buy a house in a sort of crappy neighborhood here in northeast Texas for that price. For a 2 bdrm house in a decent part of a decent town here, in a low crime area, you'd probably pay about $125k. The average older 3/2/2 home in good shape around here, maybe needing some updates, would run around $150k. Newer construction or an updated home would cost considerably more.
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Old 12-06-2014, 10:37 PM
 
Location: Miami-Jax
6,312 posts, read 6,962,789 times
Reputation: 3502
Thanks for all the responses!

Quote:
Originally Posted by McdonaldIndy View Post
Where i live (Indianapolis) 100-125k can pretty much buy you a home anywhere you want in the city. Including area's close to downtown.
Yeah my wife lived in Indianapolis for about 7 months. She says she paid the same amount for a downtown penthouse (shared with one roommate) in what they think was the tallest condo at the time as she paid for her 400 sq ft studio on Redondo Beach, CA. Coming from Cali it was the cheapest luxury living she could have imagined.

Quote:
Originally Posted by ckhthankgod View Post
Property Search Results

Specific area: Property Search Results

Many of the latter properties are in solid/fine areas too. Some are in walkable areas within the city or within a village. Some are in older suburban neighborhoods.

Is there anything else you are looking for along with the housing criteria?
That's cool, I am curious about those walkable areas. But I am asking out of curiosity as a real estate investor, not because I want to move.

Quote:
Originally Posted by censusdata View Post
I live in the higher end part of Louisville and sometimes an older home from the 1950s could go as low as $100k. In the nicer part of the old city limits you could get a smaller 2/3 bedroom home for that or less.
Yeah, Louisville has long intrigued me, both as a city and for real estate. I consider it in the smallest tier of large metros and it's been seeing a lot of great growth, gentrification and infill in a number of neighborhoods.
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Old 12-06-2014, 10:46 PM
 
Location: Miami-Jax
6,312 posts, read 6,962,789 times
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In my OP I left it pretty wide open because I was interested in hearing about all kinds of areas, but now I will state that I'm focused more on gentrifying, urban neighborhoods.

For a particular type of real estate investor, Jacksonville has been one of the hottest markets in the country the last couple of years. Many investors from all over the world have ended up investing in Jax after doing a lot of research. I live here, started my real estate business here during that boom time, and recognize the good opportunities here based on what I've been told and my knowledge of a few other markets...but the truth is I've had it good and never actually did any kind of comprehensive market analysis throughout the country. I'm curious what other markets might have some semblance to what we have here.
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Old 12-06-2014, 11:21 PM
 
56,525 posts, read 80,824,285 times
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Quote:
Originally Posted by projectmaximus View Post
Thanks for all the responses!



Yeah my wife lived in Indianapolis for about 7 months. She says she paid the same amount for a downtown penthouse (shared with one roommate) in what they think was the tallest condo at the time as she paid for her 400 sq ft studio on Redondo Beach, CA. Coming from Cali it was the cheapest luxury living she could have imagined.



That's cool, I am curious about those walkable areas. But I am asking out of curiosity as a real estate investor, not because I want to move.



Yeah, Louisville has long intrigued me, both as a city and for real estate. I consider it in the smallest tier of large metros and it's been seeing a lot of great growth, gentrification and infill in a number of neighborhoods.
Well, a lot of the 13206 listings are in this neighborhood: Eastwood Neighborhood Association
City of Syracuse -> TNT Tomorrow's Neighborhoods Today
Businesses | Walkable Eastwood
http://goo.gl/maps/2s7Xm

Some in 13208 are in this neighborhood: Court-Woodlawn Task Force
City of Syracuse -> TNT Tomorrow's Neighborhoods Today
http://goo.gl/maps/A1OUN
Or this adjacent suburb: Lyncourt, New York - Wikipedia, the free encyclopedia
http://goo.gl/maps/5DLkQ

There are some listings in this village about 15-20 minutes from the city: Village of Baldwinsville
Video Tour | Village of Baldwinsville
Greater Baldwinsville Chamber of Commerce
http://goo.gl/maps/2GFkF

There are homes in similar areas that could be improved or that are on par though.

Last edited by JMT; 12-07-2014 at 06:17 AM..
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Old 12-07-2014, 10:36 AM
 
Location: Michigan
4,571 posts, read 7,030,520 times
Reputation: 3599
Quote:
Originally Posted by projectmaximus View Post
In my OP I left it pretty wide open because I was interested in hearing about all kinds of areas, but now I will state that I'm focused more on gentrifying, urban neighborhoods.

For a particular type of real estate investor, Jacksonville has been one of the hottest markets in the country the last couple of years. Many investors from all over the world have ended up investing in Jax after doing a lot of research. I live here, started my real estate business here during that boom time, and recognize the good opportunities here based on what I've been told and my knowledge of a few other markets...but the truth is I've had it good and never actually did any kind of comprehensive market analysis throughout the country. I'm curious what other markets might have some semblance to what we have here.
A study was did a year a so ago on different amount of gentrification for each MSA. The study measured gentrification by census tract and considered gentrification to be when a tract went from the bottom half of real estate prices to the top half of the median for a given MSA between 2000 and 2007.

Gentrification and Financial Health :: Daniel Hartley :: Economic Trends :: 11.06.13 :: Federal Reserve Bank of Cleveland

Jacksonville is between Austin and Nashville in terms of percentage of low-priced census tracts being gentrified.

Surprisingly, cities like Baltimore, Detroit, and Milwaukee have a fairly low amount of census tracts that gentrified. Though I know for Detroit, not much real estate was being developed between 2000 and 2007 and prices declined somewhat early into the bubble pop. It hasn't been until post-recession that signs of gentrification have become apparent.
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Old 12-07-2014, 10:43 AM
 
4,665 posts, read 2,636,371 times
Reputation: 3342
Topeka, Kansas. My house was $95,000 2 years ago. 3 bedroom, 2 baths, 2 car garage. Best school district in the city. Slightly rural area just outside the city. House now worth $120,000. Great house for the cost. But we bought this house to make money, buying a house near the lake for approx $250k in a couple years.
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Old 12-08-2014, 01:27 PM
 
Location: South Park, San Diego
4,934 posts, read 7,589,851 times
Reputation: 9255
A dog house.

A total fixer- basically a tear down- next door to me went for $765/s.f.- and the buyers are putting an additional $250k into it just to make it a livable, very modest house.

SD-2nd most expensive in the country

Last edited by T. Damon; 12-08-2014 at 01:40 PM..
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Old 12-08-2014, 02:00 PM
 
Location: 304
5,093 posts, read 6,856,581 times
Reputation: 1697
Back home in Charleston, WV you can get a reasonable size home for 100k, basically in any neighborhood you'd like (except for private developments. You could have a 80k and three doors down there would be an 800k home.
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