Five Points Area - House Shopping (Denver: low income, real estate, foreclosures)

[Noke Star]

Me and my fiance are first time home buyers in VA. We were planning on moving this year to either Charleston, SC or Denver (it's the beach or the mountains for us) but with the economic downturn and her being a tenured teacher here we decided to hold tight for a while and take advantage of the 8k stimulus money.

We're in our mid 20s and hope to move again in a year or two. I am very interested in the Denver area and have visited a few times. I love Denver for all the same reasons that most move there for but one thing I don't love about the housing is how many split level and ranch style homes there are in our price range. I know this is probably dated back to the era that Denver took off in growth and I have nothing against them as a home just the look itself is not really my cup of tea.

What I do love however is the older homes in and around the metro area with tons of charm and character. But like most major cities these type neighborhoods are either sky high in value or come with their fair share of negative aspects if they haven't been revitalized - crime, foreclosures, low income, poor schools, etc. etc.

So I was wondering if you all could suggest to me some good older neighborhoods or even streets to look in and around that have completely turned around or that are up and coming and are close to restaurants, bars, shops etc. and that are also safe. I am also interested in "green" neighborhoods. We will hopefully be shopping in the 240k-280k price range by the time we move. Keep in mind I'm not stuck on Five Points by any means just using the area as a reference.

Here are a few homes that catch my eye to give you an idea. - Thanks!!!!

3117 Gilpin St, Denver, CO, 80205 - MLS ID#777407 (http://www.realtor.com/realestateandhomes-detail/3117-Gilpin-St_Denver_CO_80205_1109774553?mp=1&source=web - broken link)


3113 Franklin St, Denver, CO, 80205 - MLS ID#779295 (http://www.realtor.com/realestateandhomes-detail/3113-Franklin-St_Denver_CO_80205_1109925051?mp=1&source=web - broken link)


4345 Osage St, Denver, CO, 80211 - MLS ID#769480 (http://www.realtor.com/realestateandhomes-detail/4345-Osage-St_Denver_CO_80211_1109135145?mp=1&source=web - broken link)

[XAFLOC]

Those are beautiful houses. I would also look in the Baker neighborhood as it has similar house styles to 5-Points.

[Jerry Bckr]

Try the area around Tennyson street that's south of I-70.

[tfox]

5 points is definitely up and coming, but I wouldn't put it in the "completely turned around" category. In fact, pretty much ANY neighborhood with homes like what you showed us will be at least up and coming if not better than that.

However, completely turned around, complete with well-ranked schools too... for that, you're going to need to look perhaps in Platt Park, DU/University area, (South) Park Hill, Congress Park, to name a few examples. But, be aware, those areas tend to be considerably more expensive than what you're looking at, though with the housing market like it is you might find some good deals. Some of these areas really never saw much of a "downturn," even in the worst days of the 1980s, but that means that they've always been a bit pricey.

You may also want to consider that a neighborhood that's in the process of getting better might be better longer term for you than one that's already "arrived." If for no other reason, you're possibly more likely to meet younger couples like yourselves there doing the same thing as you. So, for that reason 5 points or baker might be just what you're looking for.

[steveindenver]

As mentioned you might also look in Baker, and City Park West too.

Turned around from what? The black folks who for generations have lived there but now can't afford to because of increased property values and therefore taxes?

[Noke Star]

I didn't list race as a reason so please don't pull that card on me. I listed clearly what it is I don't want in a neighborhood in my above post. Not trying to sound like an ass but race is definitely not a factor in my home buying process.

Thanks to everyone though for the responses so far!

[Noahma]

Originally Posted by steveindenver

As mentioned you might also look in Baker, and City Park West too.

Turned around from what? The black folks who for generations have lived there but now can't afford to because of increased property values and therefore taxes?

During the late 70's through the 80's 5-points was considered the highest crime area in Denver, that is what the poster was referring to. 5-points has a very historical significance in Colorado, once dubbed the Harlem of the west due to the amazing Jazz scene and cultural diversity. Some of the neighborhoods within 5-points contain some of the first homes built in denver. Many great Architects designed them with one being known as "Denver's Architect" Frank E. Edbrooke. At one point in time I did have a list of the homes and buildings throughout Denver that he had designed, but I have since lost that list DenverAztec might still have it around somewhere though. One of his most notable designs was the Brown Palace.

[steveindenver]

I didn't list race as a reason so please don't pull that card on me.

I'm not but I still giggle when I think back to the interview that as coincidence would have it took place in 5 points on a local T.V. station back in the late 90's.

A young white couple was intereviewed in a piece about rising real estate prices in front of their recently acquired bungalow in 5 points. They went on to tell the newscaster they were so happy to be a part of "bringing this community back." to which their African American neighbor upon hearing this comment in her following interview, a wise looking old lady looked with contempt and said "back from what? us black folk?"

She had a point.

[WilliamPacker]

You'll want to get to know the specific loactions of each house pretty well before you invest. I wouldn't hesitate to live in certain parts of any of those neighborhoods but there are sketchy parts. I know the place near 43rd and Osage is located pretty close to a housing project. The neighborhood is known as Sunnyside and has a lot of beautiful homes but you probably want to stay a few blocks away from the particular building I'm referrring to. I don't know about the places in 5 points. If they are affordable in that area there might be a reason. We saw a beautiful old home there but it was just down the street from a sketchy looking complex.

You can look at the crime maps on the city of Denver web site but it should be noted that the areas close to downtown have elevated rates because of what goes on downtown, usually at bar time. Living in the neighborhood you probabally don't have to worry about getting into a brawl at closing time.

Edit: I just noticed the two homes east of downtown are very close to Manual High School. I thought the area right around the high school was fine. A lot of fix and flips in that area from what I could tell. Going further north the area seems more run down.

[steveindenver]

Further north is not neccessarily more run down but what you find as you get closer to and on both sides of I-70 is more of the working poor, generally South American families.