Buying a condo in Uptown. Where are the unsafe areas? (Dallas: real estate, apartment)

[DPatel304]

I'm looking to invest in a condo in the Uptown area. I'm mainly looking at places that are within walking distance of McKinney street and West Village. Outside of that, I don't really know too much about what areas are safe and what is not. I've heard Oak Lawn should be avoided, but I've seen a few properties on Oak Lawn that are superb, and I'm wondering if maybe Oak Lawn used to be unsafe or that it is a different part of Oak Lawn.

My intention is to live in a 2 bedroom unit for a few years, rent out the second room, and then lease out the unit after I've moved out. I'm hoping that, with prices being so low and mortgage rates also being low, I'll have the potential to see the property appreciate in value quite a bit, especially in an area such as that. If any of you real estate owners have any advice on investing in property in this area, I'd be happy to hear that as well.

[cmw2133]

First thing I would do is get a LOT more familar with Uptown. It would help to walk the area and get an understanding of its layout, where the main streets, stores, DART stations, restraurants, bars and so forth are. Then I would compare Uptown to other areas: Lakewood is hawked a lot here, as are M-Streets, and North Oak Cliff, for example. And look at how condos have sold in Uptown recently--you may find the price appreciation you expect is just not there. Then you need to do the math: figure out what your mortgage costs will be, plus HOAs, other maintenance, etc. and then figure out what rent you can reasonably charge and discount that a bit.

[DPatel304]

I mean, I'm very familiar with the area around McKinney street. It's not that large of an area, but I know that's where I want to find a condo.

Sorry, but what do you mean when you say that Lakewood is 'hawked' a lot?

[Considering Coming Back]

I don't understand how you can say you are "very familiar with the area around McKinney" and at the same time ask about the neighborhoods within walking distance of McKinney. You are either trolling or out of your league.

The whole area that is "Uptown" is safe. Oak Lawn, a different neighborhood with an eponymous Avenue, is also safe. But if you don’t know where “Uptown” is then you might fall prey to a realtor showing you something else. And you aren’t likely to walk from Oak Lawn to the West Village. Any apartment a 10-15 minute walk to the West Village is fine.

[TrueDat]

There are some dicier parts of Oak Lawn, along Maple for instance or some of the side streets off Cedar Springs, but even they are gentrifying. The area of Oak Lawn between Lemmon and the Highland Park border is very nice and quieter than Uptown. All of Uptown is nice though some buildings (rentals mostly) can be full of party people.

[cmw2133]

Originally Posted by DPatel304

I mean, I'm very familiar with the area around McKinney street. It's not that large of an area, but I know that's where I want to find a condo.

Sorry, but what do you mean when you say that Lakewood is 'hawked' a lot?

Sorry, I mean Lakewood is very popular on this forum and discussed and recommended quite a bit. I would talk to a realtor to see what stock is out there.

[TheOverdog]

I agree with cmw, but also want to say Oak Lawn is Dallas' "gayborhood", and is a beautiful area with excellent access to the Katy Trail (I think it is called) and shouldn't be dismissed without a fair visit.

[DPatel304]

Originally Posted by Considering Coming Back

I don't understand how you can say you are "very familiar with the area around McKinney" and at the same time ask about the neighborhoods within walking distance of McKinney. You are either trolling or out of your league.

I'm mainly referring to immediately around McKinney. I am familiar with the areas within walking distance of McKinney, but was a little unsure about Oak Lawn. I was under the impression that there are parts of Oak Lawn that are safe while other parts are unsafe, and I just wanted to come here to confirm that.

Originally Posted by cmw2133

Sorry, I mean Lakewood is very popular on this forum and discussed and recommended quite a bit. I would talk to a realtor to see what stock is out there.

Thank you. I'll do a bit more research.

Originally Posted by TheOverdog

I agree with cmw, but also want to say Oak Lawn is Dallas' "gayborhood", and is a beautiful area with excellent access to the Katy Trail (I think it is called) and shouldn't be dismissed without a fair visit.

I'm not opposed to checking it out. I had just heard that Oak Lawn can be bad, and I wanted to know if it was just certain parts that were bad.

[Willsson]

Parts of Oak Lawn that may be unsafe would be between Maple and Harry Hines particularly, and from Cedar Springs to Maple in some places. Whether or not those areas are unsafe may largely depend upon your own activity.

Much of Oak Lawn between Cedar Springs and Lemmon Ave is safe but heavy traffic due to the clubs. Safe Oak Lawn would be between Lemmon Ave and Highland Park (city of) and the DNTollway to Turtle Creek. I lived in that area for a number of years, walking my dog - without leash on occasion - up and down the streets AND alleys, most any time of day or night with no problems whatever. The dog has since moved into a much better neighborhood which NONE of us can access.

I would suggest that most any part of Uptown is safe, from Pearl near downtown to Knox at the north end. There are other names attached to that strip but it's all McKinney Ave.

Regardless of any place you choose, always... ALWAYS, walk and act as if you know what you are doing and where you are going. Don't leave valuables unattended in plain sight.

You'll find that you will enjoy both neighborhoods.

[DitsyD]

Originally Posted by DPatel304

I mean, I'm very familiar with the area around McKinney street. It's not that large of an area, but I know that's where I want to find a condo.

Sorry, but if you are very familiar with the area then you know that it is McKinney Avenue not McKinney Street.