Living in 5Points? (Huntsville, Hoover, Madison: wood floors, apartments, renters)

[jbelda]

Hi all. So, we're thinking of moving into 5 Points, but are a little flummoxed by the wide variance of home prices and am looking for some general information about the area. I've seen homes that seem in decent shape for as low as 85,000 and some as high as 200,000 - any thoughts about an 'average'? Are there some features that one should check as a 'must have' - such as a garage, etc? My husband and I are currently renters and feel that we are throwing money away every month - but, as we have never owned a home, are trepidatious about pulling the trigger, especially since we are new to the area. Your help is much appreciated - thank you!

[unlblkrubi]

That area is mostly old mill homes. Bad insulation, old plumbing, wiring, lath and plaster. Definitly not worth the price.

[Reactionary]

Some of the variance in home prices is due to school zoning. Parts of 5 Points are zoned for Blossomwood / Huntsville Middle / Huntsville High, which is a more desirable zone than Chapman / Chapman / Lee.

Another factor is that homes in south 5 Points and closer to Pratt Avenue are usually larger, in the better school zone, and more convenient to shopping at 5 Points. You can live in north 5 Points and be a 30-45 minute walk from Star Market.

Garages are rare - many of the homes with garages will be fairly new construction. There are many properties that don't have driveways or that have a one-car driveway, so you have to park on the street / shoulder.

One feature to look for is a property that can be subdivided - some houses are actually on two lots. So some builders have been able to buy a place, scrape it, and build 2 homes on the lot.

Be aware that many of the houses are under / not insulated. Some of them are poorly constructed.

Note that even though 5 Points has a reputation as a 'walkable' neighborhood - most of the area has no sidewalks or curbs. The City built the worst roundabouts ever on O'Shaughnessy Avenue - whoever designed and approved those should be tarred and feathered.

On the plus side, the area is very convenient to downtown and I-565.

Disclaimer - I've lived on almost every street in 5 Points at some point of my life.

[BMW Dave]

Originally Posted by Reactionary

The City built the worst roundabouts ever on O'Shaughnessy Avenue - whoever designed and approved those should be tarred and feathered.

I'll pluck the chickens!

I LOVE 5pts, but just as Reactionary said, they vary wildly in quality. $85,000 is actually a low price considering some of the fixer uppers I have seen above that...

$200K is barely getting a full reno.

There was a full gut and remodel, no garage and a small driveway. It was almost $300K.

5pts is Huntsville's First Suburb/neighborhood. So it has the widest variety of homes and styles. Hence why it has the historic designation.

I really wanted to live in 5pts, I wanted to buy the old Fire Station, but sadly they tore it down to make way for more water way space. Ugh, don't bring it back up. Still hurts.

[jbelda]

Originally Posted by Reactionary

Some of the variance in home prices is due to school zoning. Parts of 5 Points are zoned for Blossomwood / Huntsville Middle / Huntsville High, which is a more desirable zone than Chapman / Chapman / Lee.

The school zone is a very interesting point - that's a huge consideration. Thank you all for the input - if not Five Points, somewhere close to it, I think! We just really like the downtown historic areas - and unfortunately, Twickenham and Old Town are just out of our price range!

[BMW Dave]

I hear ya.

Old Town is astronomical! Considering the size of some of the homes...

I am more than happy in Madison, but should I win the lottery (In TN or GA, I would snatch up a great home with history in Old Town. Then I'd have to buy a lot next to it so I could build a garage to hold all my cars.

[Huntsvegas29]

Originally Posted by jbelda

The school zone is a very interesting point - that's a huge consideration. Thank you all for the input - if not Five Points, somewhere close to it, I think! We just really like the downtown historic areas - and unfortunately, Twickenham and Old Town are just out of our price range!

Yeah I hear you. Being able to afford a house in Old town or Twickenham has been a lifelong goal of mine. I've always loved that area

[rnc76]

Originally Posted by jbelda

The school zone is a very interesting point - that's a huge consideration. Thank you all for the input - if not Five Points, somewhere close to it, I think! We just really like the downtown historic areas - and unfortunately, Twickenham and Old Town are just out of our price range!

Check out the Medical District neighborhoods south of Governor's, east of the Parkway, down to Drake. The northern half, north of Bob Wallace has a similar feel to Five Points, not quite as old but you have the older houses, big trees, very convenient to virtually anywhere in town. The prices are a little more reasonable because the houses aren't "historic".

Five Points is a great neighborhood, but there is a HUGE variety of property in there. Some gorgeous renovations, some dumps ready to be demolished, ratty looking apartments next to a awesome homes... There is even a small trailer park tucked back in there on the north-eastern edge of the neighborhood. The problem is anything that has been updated and is in the Huntsville High district will be pretty pricy, well over $200k unless it is very small.

Yeah, on the roundabouts. Those have to be the strangest location for a roundabout. Not really sure what the thought on that was.

[Dirt Grinder]

Originally Posted by unlblkrubi

That area is mostly old mill homes. Bad insulation, old plumbing, wiring, lath and plaster. Definitly not worth the price.

I owned a home in Five Points and it wasn't an "old mill home," didn't have bad plumbing, didn't have bad wiring, no plaster and was built in the early 1900s. We had beautiful heart pine wood floors, high ceilings, three fireplaces. In fact, there wasn't a house matching your description on our entire street. The decent homes in that area continue to rise in value as the supply can't meet the demand.

[Wandering_Missourian]

So, if many many people really like 5 Points (I think it has been listed as Huntsville's favorite neighborhood a few times), and dream of Old Town/Twickenham... why do all the new developments in the area have to be garish, soulless, treeless, cardboard Hoovervilles? I think the primary reasons that prices has delusionally levitated on a high plateau for 5 Points/Old Town/Twickenham since 2007 (straight thru a national housing collapse) is that the other options in the regions are TERRIBLE. Coming from an area with an absolute wealth of historic properties (Saint Louis metro)... it is very hard to see properties here going for 2-4X what they would elsewhere. The consequences of constrained supply.

Since the supply can't be modified, then maybe the demand will be. With sequestration and all...... just wait a few years here and maybe prices will finally start to fall fairly hard in the historic districts. That would be a nice opportunity for the patient.