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Old 10-30-2012, 09:09 PM
 
113 posts, read 208,631 times
Reputation: 47

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OK folks, there have been a few interesting places that have opened up in 78741 including some foreclosures.

I've done a lot of research and can't seem to figure this place out.

I see *Beautiful* houses on Parker Lane (north of Oltorf). But then I have to think this is a very busy street and one must be mad to pay premium dollar to live on Parker Lane (e.g., the bloke who is asking for $245K for EACH lot of raw land on Parker Lane!)

So what am I missing? It seems only the area West of Parker Lane has a "neighborhood" feel and is safe. The rest of the area looks quite dumpy. A lot of multi-family and no real neighborhood feel.

South of Oltorf seems to get even worse, although there are pockets of large-lot single-family that look interesting.

** so my question is... where you would you buy in 78741 if buying West of Parker Lane is NOT an option. Which streets/neighborhoods have a shot of gentrification in 78741, even if it takes 5+ years? **

Thanks!
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Old 10-31-2012, 05:42 AM
 
1,063 posts, read 1,777,355 times
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I wouldn't...
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Old 10-31-2012, 06:04 AM
 
Location: central Austin
7,228 posts, read 16,103,544 times
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Your time horizon is too short. Nothing is likely to gentrify in that area in 5 years, everything is likely to gentrify within 20-30 years (although much will depend on things out of your control, city policies, University policies, Cap Metro routes, and million other things).

There are decent houses on nice lots in that area and it is crazy close to downtown etc. Lots of SF homes with aging seniors that will turn over but the area also bulges with working class folks (many pushed out or no longer able to afford hipster East Austin) so there is a steady demand for lower-end rentals and no guarantee that an investment in a specific house will pay off. The elementary school for that area is crazy overcrowded.

The Rutland area is more likely to do well over the next five years than 78741.
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Old 10-31-2012, 09:35 AM
 
3,834 posts, read 5,761,517 times
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Very small poecket near riverside and I35, otherwise skip
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Old 10-31-2012, 09:48 AM
 
Location: Austin, TX
2,101 posts, read 4,527,489 times
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If all you want a cheap house that's close to Downtown, you could move to the East Riverside area, but I don't recommend it. The area between I-35 and Parker Ln and north of Oltorf St is really the only nice part of this area.
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Old 10-31-2012, 11:27 AM
 
113 posts, read 208,631 times
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(1) What about living directly on Parker Lane, north of Oltorf? Is this a very busy street that isn't worth having a side/corner lot on?
(2) Shouldn't 78741 area gentrify outside of Parker Lane? It is so close to downtown and 78704 is so expensive! But i see all this multi-family that seems to be holding it down.
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Old 10-31-2012, 11:55 AM
 
113 posts, read 208,631 times
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One last question (3) what kind of Home Price Appreciation do you think that pocket between Parker/35 and north of Oltorf can see from here?

Thank you!
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Old 10-31-2012, 12:00 PM
 
Location: Austin, TX
16,787 posts, read 49,068,148 times
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//www.city-data.com/forum/austi...l#post18219735

Quote:
The seven highest crime areas for total crimes are:
ZIP....INDEXED..TOTAL
78753...4,648..13,832 - North IH-35 corridor from 183 to Howard Lane (Rundberg Lane area)
78741...4,250..14,254 - E. Riverside Drive and Montopolis
78704...3,506..10,444 - S. Central Austin, Town Lake - BenWhite & Mopac/Loop 1 to IH-35
78745...3.384....9,793 - Far S. Central Aus, S. of BenWhite to Davis Lane & Mopac/Loop 1 - IH-35.
78758...2,993....9,244 - Mopac to Lamar & 183 to Parmer Lane
78701...2,429..10,439 - Downtown Austin
78702...2,412....9,163 - East Austin from MKL Blvd down to Town Lake and from IH-35 to Airport Blvd.

Highest crime areas for Aggravated Assaults are:
78741...262 - E. Riverside Drive and Montopolis
78753...200 - North IH-35 corridor from 183 to Howard Lane (Rundberg Lane area)
78723...141 - Airport Blvd to 183 & MLK to 290
78702...120 - East Austin from MKL Blvd down to Town Lake and from IH-35 to Airport Blvd.
78758...171 - Mopac to Lamar & 183 to Parmer Lane
78704.....78 - S. Central Austin, Town Lake - BenWhite & Mopac/Loop 1 to IH-35
78701.....93 - Downtown Austin
Also...

//www.city-data.com/zips/78741.html

Residents in 78741 with income below the poverty level in 2010: 38.9%

Residents in 78741 with income below 50% of the poverty level in 2010:19.3%

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Old 11-03-2012, 09:02 PM
 
113 posts, read 208,631 times
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Less than ideal. But so close to downtown! Isn't it a matter of time before East Austin and East Travis Height prices spill into 78741 and 78745?

E.G. the riverside development should be nice.. could be Travis Heights II at some point?
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Old 11-04-2012, 11:14 PM
 
Location: Austin, TX
2,101 posts, read 4,527,489 times
Reputation: 2738
Quote:
Originally Posted by FrozenCucumber View Post
Less than ideal. But so close to downtown! Isn't it a matter of time before East Austin and East Travis Height prices spill into 78741 and 78745?

E.G. the riverside development should be nice.. could be Travis Heights II at some point?
Actually, I heard that the part of E Riverside you're referring to was once part of Travis Heights before I-35 was built. Can anyone here corroborate this story?
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