Tell me about these neighborhoods! (East Point, Hapeville: buy, price, estate)

[cwkimbro]

Originally Posted by equinox63

I think it’s just about there now... if you have the money to buy there, that’s great. But will the Pullman Yard development push 30317 from the high $700k into the million range? Maybe, but at that point, I don’t know how much further up it can go.

My problem is is at this point it becomes a good investment if you're wanting to use it as a primary residence and need to pay for housing anyways, but at some point your money is better spend compounding in the stock matter.

That is why I think real estate investors tend to take more risks trying to get an area before it gets off the ground, but understanding that could take awhile and be affected by a future recession.

[jeoff]

Originally Posted by equinox63

I think it’s just about there now... if you have the money to buy there, that’s great. But will the Pullman Yard development push 30317 from the high $700k into the million range? Maybe, but at that point, I don’t know how much further up it can go.

If you are seriously looking in the 500-700 range, don’t rule out Candler Park-Lake Claire. It’s not like it’s value had leveled off since the recovery.


(Now, I don’t pretend to know how folks have been coming up with the money to keep paying these escalating prices. But, they have so far. It seems kind of crazy from where I stand).

[equinox63]

Originally Posted by Forhall

This is very helpful, thank you. I was hoping for an area that wasn't too rough, even though it means less upside. There's a chance of my family member living in in a few years so we don't want an area that we wouldn't want to live in. That's why I avoided most of west side, but I thought Pittsburgh was better because it is so close to grant park?

Then you may want to look into Summerhill, Ormewood Park, Glenwood Park, Reynoldstown, etc.

[cqholt]

Originally Posted by Forhall

Thank you. Is it too late for the east side neighborhoods or do they still have upside? Kirkwood, Edgewood, East Lake? Any chance buying now would mean getting in before they turn into Candler Park or Lake Claire? Pullman Yard I know is getting a big development, might that make a difference?

They are already there.

[red92s]

Originally Posted by Forhall

Thank you. Is it too late for the east side neighborhoods or do they still have upside? Kirkwood, Edgewood, East Lake? Any chance buying now would mean getting in before they turn into Candler Park or Lake Claire? Pullman Yard I know is getting a big development, might that make a difference?

The easy money has been made in a lot of those areas. At this point you are fighting against builders with all-cash, no contingency offers for anything under $300k. Between $300-400k you are fighting against 15 newlywed couples who want to start a family and are after 3 bedrooms. At $400k-600k you are fighting against the families who are cashing out the equity in their starter house in the same areas to get a little more room for their growing family. At $700k you are fighting against the folks who really want a garage and separate laundry and a Wolf range and 4 bedrooms but are priced out of Candler Park.

[Clayton white guy]

Homes in Capital View Manor and parts of Sylvan Hills and Oakland City overall have "better bones" than Capital View (no manor, lol) and certainly Mechanicsville/ Peoplestown, etc. They are nicer homes on larger lots because when they were constructed, they were meant to be middle class segregated White neighborhoods in pre-integration Atlanta. Capital View (across Metropolitan Parkway/ old Stewart Avenue from more attractive Capital View Manor) was originally a more working class segregated White neighborhood. Mechcanicsville and Peoplestown were originallly working class Black neighborhoods in Jim Crow era Atlanta.

Capital View Manor is a REALLY attractive neighborhood in my opinion because it really reminds one of Morningside (sought after upscale neighborhood in "Fashionable Northeast Atlanta") with its winding, tree shaded streets lined with cute, vintage Tudor Revival styled homes. When I taught in Atlanta Public Schools, well over a decade, now, I fell in love with that Southwest Atlanta jewel, as I knew several Atlanta school teachers that lived in the neighborhood. If I had the funds, that is where I would look, first. Oakland City, especially on the eastern side of Avon Avenue near Lee Street has many lovely historic homes.

East Lake in Southeast Atlanta, adjacent to the Golf Courses and many other already gentrified communities would probably have the upside, first, as would Edgewood for the same reasons. Schools generally speaking are better in those East side neighborhoods, too.

[jpatlanta]

Originally Posted by red92s

The easy money has been made in a lot of those areas. At this point you are fighting against builders with all-cash, no contingency offers for anything under $300k. Between $300-400k you are fighting against 15 newlywed couples who want to start a family and are after 3 bedrooms. At $400k-600k you are fighting against the families who are cashing out the equity in their starter house in the same areas to get a little more room for their growing family. At $700k you are fighting against the folks who really want a garage and separate laundry and a Wolf range and 4 bedrooms but are priced out of Candler Park.

This is spot on.

[Forhall]

Thanks I will look more closely at Capital View and Oakland City. Google maps of random streets looks promising.

I figured the East Lake TOD, Edgewood TOD and Kirkwood Pullman Yards redevelopment might mean those 3 east side neighborhoods have more upside.

[Clayton white guy]

Capital View Manor (east of Metropolitan) over Capital View (West of Metropolitan along Dill Avenue.)

[Tarzanman]

So many investment threads lately. Sign of a bubble?