Land value in Montrose (Houston, Dallas: how much, townhomes, neighborhood)

[clutchcity]

What are everyone's thoughts on the future of land value in Montrose?

I'm specifically looking for a full-sized residential lot (5,000 square feet) for $400k or less.

Is this even possible anymore?

[zitro21]

Nope

[dejamiller]

Are you kidding??? Not even

[clutchcity]

Originally Posted by dejamiller

Are you kidding??? Not even

There seem to be some deals on 5,000 sq.ft. lots still, for example:

- Sold for $400,000 in March 2017: https://www.redfin.com/TX/Houston/43.../home/29674341

- Sold for $400,000 in June 2017 https://www.redfin.com/TX/Houston/13.../home/29737878

[txdemo]

Use map search function on HAR.

Not Montrose but there are a couple of 5k lots for $200k in Fourth Ward which is between Montrose and downtown. Between Taft, W. Dallas and W. Gray. Check Gillette and Ruthven streets. Looks like townhomes being built around there.

I remember accidentally driving down Gillette street about 20 years ago and I immediately had 4 nice fellows run to my car to sell drugs to me. I'm not sure how much it's changed but it's so close to downtown and Montrose that it's bound to be worth something someday soon. Don't know if it floods there though.

[slingshot]

I used to live in the 4th ward on Oak Court not far from Gillette St. and a guy that lived across the street from us got stabbed to death with a tire iron because he accidently drank the wrong beer at a bar. Of course it's probably a nice family neighborhood now.

[txdemo]

Originally Posted by slingshot

I used to live in the 4th ward on Oak Court not far from Gillette St. and a guy that lived across the street from us got stabbed to death with a tire iron because he accidently drank the wrong beer at a bar. Of course it's probably a nice family neighborhood now.

Well, clearly someone was just being hygienic about backwash. Can't be too careful!

[DJboutit]

Look in 4th Ward East End 77003 also the western part of 77011 southern part of 77009 and 77004 west of 288 you should be able to get a 6500 to 7500 sqft lot for $400k

5450 Navigation 17400 sqft $300K
2110 Hadley 7500 sqft $290K
6629 Harrisburg 9500 sqft $245K
129 N Kendall 7200 sqft $210K
No address JW Peavy Dr 15000 sqft $180K
7340 Navigation 10800 sqft $125K
4514 N Main 8900 sqft $360k
3717 Robertson 17300 sqft $245K
1136 Luzon 9000 sqft $216K
2905 Terry 2 lots total of 10200 sqft $150K
No address Booth st 8500 sqft $60k
No address Booth st 6800 sqft $40k

[HookTheBrotherUp]

Originally Posted by dejamiller

Are you kidding??? Not even

My neighbor across the street sold his house in April, it was not livable, it was in the middle of renovation, but at least $100K from being done, yet he sold it for $490K, which is not more than the dirt value.

As well, I purchased my home in 2012 for $258K, it kind of was livable, but needed work because the previous owner had it as a duplex, and one unit was in bad shape and could not be lived in because of the plumbing. We converted back to a single dwelling, did work on it, added central HVAC, now it is valued at $500K. That is not indicative of houses in the area, but for me it was, we know we lucked out on that.

Also, when the other parts of Houston suffered just a bit, I did not notice any difference here in Montrose, other than some major projects were put on hold, or canceled, the value of the homes did not go down much at all, if any.