Buying on 78752 (Austin, Cameron, St. Jo: real estate, apartments, rentals)

[saidi]

Hello fellow Austinites!

I am ready to buy my first home. My budget is 165k or less. I almost put an offer on a condo but I would like to buy something that will appreciate better and I can own for the next 6 years plus. I don't mind buying something that needs remodeling. I was reading thru the threads and 78752 seems a zipcode that is starting to get flipped. Now west of I35 I don't think I can find something on my prince range and east of I35 you have the St. Johns neigborhood and Coronado. What areas would you guys recommend buying and where should I stay away from? Btw it's just me and my dog, so being safe is definitely important.

Thanks for your input.

- Saidi

[scm53]

You didn't ask for it, and giving unsolicited advice to adults is dangerous territory. But can I give you the benefit of thirty five years of home ownership? I've never bought a house, for me to occupy, based on how much I thought it would appreciate. I've bought a couple of rentals based on that. But never one for me. I would urge you to reconsider your priorities - find something you want to live in first, then worry about the potential appreciation.

78752, east of 35, has some things going both for and against it. Main "for" is its location and proximity to downtown. Several "against" - bad secondary schools and an above average amount of property crime. Most potential SFR buyers will care about both, even if you don't. Those houses all date from the 70s, and need updating. You say you don't mind, but that will cut into your upside.

I'd find a place I liked - that I wanted my friends and family to enjoy with me. Then worry about the appreciation. I've followed that through eight homes in thirty five years, and made money on every one - because if I wanted to live there, other people would want to as well.

But if a SFR in 78752 is what you are set on - consider this worth what you paid for it.

[Komeht]

Originally Posted by saidi

Hello fellow Austinites!

I am ready to buy my first home. My budget is 165k or less. I almost put an offer on a condo but I would like to buy something that will appreciate better and I can own for the next 6 years plus. I don't mind buying something that needs remodeling. I was reading thru the threads and 78752 seems a zipcode that is starting to get flipped. Now west of I35 I don't think I can find something on my prince range and east of I35 you have the St. Johns neigborhood and Coronado. What areas would you guys recommend buying and where should I stay away from? Btw it's just me and my dog, so being safe is definitely important.

Thanks for your input.

- Saidi

There is a really interesting pocket between Airport and Lamar that has a good upside potential because of three things that could transform the area.

1. ACC is undergoing a renovation of Highland Mall to turn it into a VMU node with the school and businesses, apartments, shops, food etc in a town center format. The plan is really good and will create a nice walkable node down the road.

2. Metro stops at Highland Mall and Crestview Are encouraging TOD.

3. The city will likely implement a form based revision to the landuse code for the length of Airport frommLamar to IH35. This could radically alter and simplify the development process and hell to accelerate the ending of blight along this now pretty grim stretch of stroad.

But East of iH35 will get see of the benefits of this. As an investment in 78752, I would only consider the portion west of IH35 and really only the parts near Airport, preferably within walking distance of one of the metro stations.

[centralaustinite]

And because of everything that Komeht outlined above, it is harder and harder to find anything in that area in the OP's price point of $165K. There might be one out there but you would have to be well prepared to jump on it right away.

good luck

[FrozenCucumber]

Where exactly are the new metro stops: Highland Mall and Crestview? Will they have accessible parking nearby?

[Komeht]

Originally Posted by centralaustinite

And because of everything that Komeht outlined above, it is harder and harder to find anything in that area in the OP's price point of $165K. There might be one out there but you would have to be well prepared to jump on it right away.

good luck

This is correct - I'm merely pointing out that there are areas for possible growth in 78752 - but they're not east of IH35.

[CarnivalGal]

Originally Posted by Komeht

This is correct - I'm merely pointing out that there are areas for possible growth in 78752 - but they're not east of IH35.

I agree with this.

[passionatearts]

Originally Posted by saidi

Hello fellow Austinites!

I am ready to buy my first home. My budget is 165k or less. I almost put an offer on a condo but I would like to buy something that will appreciate better and I can own for the next 6 years plus. I don't mind buying something that needs remodeling. I was reading thru the threads and 78752 seems a zipcode that is starting to get flipped. Now west of I35 I don't think I can find something on my prince range and east of I35 you have the St. Johns neigborhood and Coronado. What areas would you guys recommend buying and where should I stay away from? Btw it's just me and my dog, so being safe is definitely important.

Thanks for your input.

- Saidi

I live in the 78752 zip code and can tell you that you won't find any houses in the area for your budget. The average house price in my neighborhood (Skyview) is $240,000 - $250,000. You might be able to find a condo for $162,000 or less, but I'm not sure about that. Do you have a real estate agent yet?

[saidi]

thanks for the replies.

I agree with your recommendations. I just keep seeing this houses on St. John that are getting redone, so I thought maybe I was missing something. I will be patient and just as soon as I see something in the areas you mentioned.

Thanks!

[riaelise]

The parts of 78752 that includes the St. John's area/Blessing Ave/183 - Cameron corridor is NOT good IMO. Poor schools, lots of crime, there's a halfway house in there somewhere...not good shopping.

I'd rather live farther out than close in if that's what I had to choose from.