Next City To Buy Low for Good Return in Future

[john3232]

Originally Posted by patrick85395

...I still vote Buckeye for a potential upside...and remember you heard it here first. Based on comps, my rental property there is up about a conservative 24% in the 3 yeas that ive owned it. It's a 3/2, 2000 sq ft rented for $1850/mo.

That's very good! I had no idea Buckeye was so desirable.

[wilberry]

yes Buckeye is going to be a good investment and then Wikiup in 2060

[ShampooBanana]

Originally Posted by patrick85395

Nope...I dont do high risk tenants. Rent was 1650 three years ago and I've increased every year. This renter took it for two years at that rate. The home is located well within the community and is one of a handful with pools. It's quite nice and is worth every dime. That's why I bought it. There are other homes without pools, not as well located getting a few hundred/month less.

My bigger point is that Buckeye has an upside and folks who spend all of there time on the east side don't see it...I understand that...the west is on the rise That's how I see it.

I agree on Buckeye. Potential is there especially with the 303 future commercial growth which will provide jobs and the impending growth patterns of the Phoenix metro. Quite simply, there isn't really anywhere to go east for reasonably affordable housing aside from way out in Queen Creek and San Tan Valley which is even further out than many parts of Buckeye. Buckeye needs to start tackling it's infrastructure needs now though to get ready for the growth that's coming. In Buckeye I'd especially look to the areas with the best schools (Verrado elementary and high school boundaries). Surprise is another place that has incredible growth potential over the next several years and is still quite affordable. Better overall schools and access than Buckeye with plenty of room to grow.

[Prickly Pear]

Originally Posted by vipbrando

Parts of Sunnyslope and the surrounding areas to the north (towards Thunderbird) around the mountains (North Mountain area) are a great value. It has all the ingredients for a boom. It has been this way for a few years now, but it just hasn't happened. Long-term, I'd put my money there. Also, the historic neighborhoods in East Phoenix (Thomas to Indian School, east of Central) have already exploded but there's more room for further increases I think. And, the historic areas downtown, a few blocks either way of central around Roosevelt.

South Scottsdale should continue a good appreciation. Historic Mesa also has some really charming neighborhoods that I think are undervalued.

There's some solid neighborhoods in north-central Glendale (think 85304, 85306) that have climbed 12% last year alone.

When the bubble bursts, it's the fringe and outskirts that take the hardest hit. Queen Creek, Gilbert, Chandler, San Tan, etc. It's mainly a location issue.

Sunnyslope really doesn't have all the ingredients for a boom. If it did, I feel like it would've already happened. It's being passed on light rail which will severely hurt its future development. I drive through Sunnyslope on the way to work in Downtown, takes me about 20-25 minutes or so on 7th street (to reach Dunlap), not terrible but I also start work at 7 am and not... 9 when the traffic is much worse. Sunnyslope has a large concentration of auto repair shops, they take up a lot of space on Dunlap and Cave Creek road. Something about free market I suppose... but I think all the auto repair shops are hurting the neighborhood's development. It doesn't make Sunnyslope an eclectic walkable area (like the historic areas near Roosevelt Row and Willo are booming for) and in fact I would argue many of the auto repair shops are very unappealing. Lots of broken run down cars in the back seen from the sidewalks. Believe it or not neighboring businesses do have an effect on if apartments and people want to live there. What does the neighborhood look like? Sunnyslope has mountains, yes, but at street level Sunnyslope is still an unappealing place.

Sunnyslope has one of the better high schools. Sunnyslope High is actually a good high school, better than even some middle class/upper class high schools I have seen... but the middle and elementary schools are in really poor shape.

Sunnyslope has to do something about street level development. Branch away from used car dealerships and auto repair shops. What can be put in on Dunlap, 7th street, Cave Creek, Central, 7th Avenue, that can make Sunnyslope look like a more interesting place?

[49erfan916]

For those who say Buckeye, isn't it too far from Phoenix proper to be considered a city with huge potential growth?

[Ponderosa]

Originally Posted by 49erfan916

For those who say Buckeye, isn't it too far from Phoenix proper to be considered a city with huge potential growth?

Not like it used to be. Phoenix has expanded westward and places like Goodyear and Surprise which are adjacent to the east edge of the Buckeye city limits are filling in with homes and businesses. The westside of the metro will be the boom side in the coming years simply because that is where all the land and room for expansion is. Buckeye has a lot of potential. It'll take a decade or two, but Buckeye will probably be "close in" at some point. What is lacking in the new far west side is employment beyond services and warehousing. Unless and until that comes, people who move to Buckeye will potentially face long commute times. But that is true from all fringe areas. The 1-2 hour commute will eventually be the norm here like in LA.

[LagunaMom]

Surprise and Goodyear.