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Old 06-01-2019, 11:09 PM
 
5 posts, read 20,550 times
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Help- trying to figure out where to buy an investment property in Alexandria. Considering the "Villages of Mount Vernon" neighborhood, Village Green Court, Venoy court, Village Green Drive etc area. Any thoughts? Pros/cons? Any reason you wouldn't buy a townhouse here as an investment property? I like the price point, proximity to DC, Fort Belvoir, etc.

Also any thoughts on a neighborhood a few miles up the road from "Villages of Mount Vernon"- Diablo Court, Brevard court, etc?

Any input GREATLY appreciated! Thank you!
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Old 06-02-2019, 07:25 AM
 
1,304 posts, read 2,426,603 times
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Do you have a million dollar budget to buy an old home, tear it down, and build a new one? Or buying something wihtin walking distance to the metro? Because that's investment property in northern VA. Not buying 30+ year old townhomes.

I would not consider Mt. Vernon to be an investment area. No metro access - not a giant requirement - BUT no real major highway either. If it's close to DC and cheap it's cheap for a reason.
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Old 06-03-2019, 07:36 AM
 
Location: The Port City is rising.
8,868 posts, read 12,562,134 times
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Quote:
Originally Posted by boyd888 View Post
Do you have a million dollar budget to buy an old home, tear it down, and build a new one? Or buying something wihtin walking distance to the metro? Because that's investment property in northern VA. Not buying 30+ year old townhomes OUTSIDE THE BELTWAY.

I would not consider Mt. Vernon to be an investment area. No metro access - not a giant requirement - BUT no real major highway either. If it's close to DC and cheap it's cheap for a reason.
FTFY

Because, like, have you seen prices at Warwick Village lately?

That said, I don't really have an opinion on the area near Ft Belvoir either way.
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Old 06-03-2019, 02:22 PM
 
5,391 posts, read 7,230,341 times
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The investment potential in that area is more likely to be in terms of you building equity while tenants pay the mortgage payments. I wouldn't expect much in the way of appreciation in that area. That's not to say there isn't investment potential outside of the scenario that boyd888 presents. But you want an area that will attract good tenants, where you won't have a lot of off-market time while you wait for a good tenant to apply, and you don't have a lot of expenses due to bad tenants. IMO, low-price housing along Route 1 doesn't fit in that picture.

See these threads for opinions on the area (not specifically on Villages of Mt. Vernon, though):


Best Apartments on Route 1 - Clean, safe, quality


Alexandria Townhouses

Example comments:

"The neighborhood there along Pole Road and Sacramento Drive is sketch"
"The Pole Road area is definitely one of the worst neighborhoods in Fairfax County."
"I believe Sacramento Dr. does not have the best reputation."
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Old 06-05-2019, 10:53 AM
 
Location: Central Virginia
6,560 posts, read 8,393,687 times
Reputation: 18794
Quote:
Originally Posted by novagirl29 View Post
Help- trying to figure out where to buy an investment property in Alexandria. Considering the "Villages of Mount Vernon" neighborhood, Village Green Court, Venoy court, Village Green Drive etc area. Any thoughts? Pros/cons? Any reason you wouldn't buy a townhouse here as an investment property? I like the price point, proximity to DC, Fort Belvoir, etc.

Also any thoughts on a neighborhood a few miles up the road from "Villages of Mount Vernon"- Diablo Court, Brevard court, etc?

Any input GREATLY appreciated! Thank you!
In 2009-10, I lived near that area. I concur with the comments below. Granted that was 10 years ago, but I don't think the area has changed very much.

It's a low income area so I don't think you would have a profitable return on an investment home there.


Quote:
Originally Posted by robbobobbo View Post
"The neighborhood there along Pole Road and Sacramento Drive is sketch"
"The Pole Road area is definitely one of the worst neighborhoods in Fairfax County."
"I believe Sacramento Dr. does not have the best reputation."
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Old 06-06-2019, 07:06 PM
 
5 posts, read 20,550 times
Reputation: 10
Thank you all for your replies. Do you think the EMBARK project will make the area more desirable in the future? Maybe buy now in the area before it becomes better? I am not willing to take on that risk yet, but definitely worth looking into. https://www.fairfaxcounty.gov/news2/...-improvements/
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