Riverside Terrace/South MacGregor/288/med center-nice? (Houston, Del Rio: fit in, for sale, apartment complexes)

[houstonlandlord]

I am trying to decide if I should buy/rent a home off South MacGregor and 288. The area is insanely close to the med center/Rice/downtown/UH, yet seems a bit forgotten. The lots are large and some homes are very nice while others not so nice.
The area seems quiet with no thru traffic, I have met the people who live next door and they seem very cool. I am looking at a smaller home on Ozark Street near Del Rio. Is there something I don't know about the area that keeps the property values low? Oh, and I did a research on crime and it is not too bad, less than Montrose actually.

[starkeshia]

Things are pretty rough on the south side of OST. Whatever you do, be sure to stay as far away from apartment complexes as you can. Apartments in the gentrifying areas of town (and some that are in gentrified areas) will, 9 times out of 10, attract a rather unsavory element to the area.

[houstoner]

Great recent article in the paper on the history of the area, including the documentary about the neighborhood. It might help explain some things. A revisit to Riverside | Chron.com - Houston Chronicle (broken link)

[niknak]

I live in this area and would highly recommend it if you work in the med center. I work in the med center takes me 7 mins to get to my parking lot ,with traffic 12mins. It is so close and convenient. It is an interesting neighborhood, expensive well kept houses next to not so well maintained. Things are changing though there are many properties undergoing renovation ( counted at least 8 on my way home today). Prices are going up due to the areas proximity to everywhere in Houston.
There are many older residents so lots of busybodies to watch your property. Sure there is crime but no more than other urban areas. The civic clubs are in the process of forming HOAs to better protect properties/land from the many developers trying to come in and build townhomes.
If you are White you have to feel comfortable being in the minority and be without preconceived predjudices. There are few white families, the ones I know fit in well. I think the reason it is an overlooked area for many is because it is a high minority area and fear keeps alot of people away. There are many professionals living here doctors, pharmacists, college professors, public officials. I love it and would recommend everyone taking a serious look at our neighborhood.

[modster]

Originally Posted by niknak

I live in this area and would highly recommend it if you work in the med center. I work in the med center takes me 7 mins to get to my parking lot ,with traffic 12mins. It is so close and convenient. It is an interesting neighborhood, expensive well kept houses next to not so well maintained. Things are changing though there are many properties undergoing renovation ( counted at least 8 on my way home today). Prices are going up due to the areas proximity to everywhere in Houston.
There are many older residents so lots of busybodies to watch your property. Sure there is crime but no more than other urban areas. The civic clubs are in the process of forming HOAs to better protect properties/land from the many developers trying to come in and build townhomes.
If you are White you have to feel comfortable being in the minority and be without preconceived predjudices. There are few white families, the ones I know fit in well. I think the reason it is an overlooked area for many is because it is a high minority area and fear keeps alot of people away. There are many professionals living here doctors, pharmacists, college professors, public officials. I love it and would recommend everyone taking a serious look at our neighborhood.

Riverside is a beautiful area. There is some fabulous architecture over there.

[Bike4Life]

So, are you looking to be another landlord or to live near TMC? We don't want more renters in Houston. There are too many slumlords, just ask Mr. Herbert Vo on how to become one of them. We want owners because that is what will improve the neighborhoods.

I agree that Riverside could move up on the elite neighborhood list but history shows that there was a white flight to the suburbs and the area sank as a predominantly black community which probably had many similar affects in several areas of the city back then.

The neighborhood of Riverside has some beautiful homes and multiplexes in and around Braes Bayou. However, it appears that "luxury" new business are slow to move in as they always follow the money trail. If the neighbors don't trust big banks or perhaps vice verses, then it's big business for pawns and check-cashing shops.

It is possible that the attention going from West to East inside the Loop might change the area. It's only a matter of bold frontiers and patience or it could always stay stagnant if there is no sign of improvements. Los Angeles has some gang ridden convenience locations but why haven't they gentrified?

Originally Posted by houstonlandlord

I am trying to decide if I should buy/rent a home off South MacGregor and 288. The area is insanely close to the med center/Rice/downtown/UH, yet seems a bit forgotten. The lots are large and some homes are very nice while others not so nice.
The area seems quiet with no thru traffic, I have met the people who live next door and they seem very cool. I am looking at a smaller home on Ozark Street near Del Rio. Is there something I don't know about the area that keeps the property values low? Oh, and I did a research on crime and it is not too bad, less than Montrose actually.

[houstonlandlord]

I have done more research and am sold on the area. I really believe it is as safe and as close as much more expensive areas in town....the busy bodies help!
A quick note to Bike4life; I have 4 rental homes; heights, Memorial Park, and Montrose and I assure you they are very nice, actually nicer than the immediate homes surrounding them (especially when I bought them)...it just makes good business sense. Also, I believe Mr. Vo is known for his apartment complexes, and to say you don't want more renters is short sighted and predjudiced.

[modster]

If you have the opportunity, go by the MFA and pick up a DVD copy of "This is our Home, It is Not For Sale" by Jon Schwartz.

[Texas Mack]

The "Parkwood" section of Riverside Terrace is especially nice. Not only do you have nice, large homes and lush greenery, but the bluffs within Parkwood Park make for a charming community asset.

[houstonlandlord]

Texas Mack, the parkwood street is what really sold me on the area. Also, as I drive around there is a lot of renovation. I have made an offer on a home in the neighborhood, on the outskirts, the smaller homes but North of OST between Tierwester and Del Rio. I am very excited about my own renovation project in the area.
Thanks to everyone for their insight.