Gentrification at work, Eastwood home list for $1 million ! (Houston, McKinney: sale, real estate)

[Jack Lance]

I never thought I would see the day when any house in the 2nd ward would list for a million bucks. I hope they get it....


An investor-flipped Eastwood home has been listed at a record price for the neighborhood: $1 million.

As demand for inner Loop real estate has skyrocketed, so have prices in previously affordable neighborhoods. From 2003 to 2012, the median price per square foot in the neighborhood east of Downtown hovered around $94, according to HAR data. That jumped to $182 a square foot in 2018.

The five-bedroom, four-and-a-half bathroom home at 4503 McKinney St. is listed at $275 a square foot.
https://www.houstonchronicle.com/bus...ntent=briefing

[WRM20]

Originally Posted by Jack Lance

I never thought I would see the day when any house in the 2nd ward would list for a million bucks. I hope they get it....

Technically, that's Third Ward. Second Ward was North of Harrisburg, at least on this map https://houstorian.files.wordpress.c...nwards1920.jpg

But, I'm being somewhat pedantic. It is interesting to see prices like that in the Eastwood area.

[Jack Lance]

Originally Posted by WRM20

Technically, that's Third Ward. Second Ward was North of Harrisburg, at least on this map https://houstorian.files.wordpress.c...nwards1920.jpg

But, I'm being somewhat pedantic. It is interesting to see prices like that in the Eastwood area.

OK, but in all reality when they built the Gulf Freeway that effectively partitioned that part of the Third Ward over to the Second ward.


The Houston Super neighborhood map calls it Greater Eastwood and doesn't show any part of Greater Third Ward to the East of I-45.


https://www.houstontx.gov/superneigh...zip.pdf#page=1

[recuerdeme]

Ugh... so many missed opportunities.

[a_guerrajr]

picture 28, that's a million-dollar bathroom for sure.

It would be nice for me, I could work off the same street.

[Jack Lance]

Originally Posted by a_guerrajr

picture 28, that's a million-dollar bathroom for sure.

It would be nice for me, I could work off the same street.

They really don't show the bathrooms do they, thanks for pointing that out. I wonder why though ?

[a_guerrajr]

Originally Posted by Jack Lance

They really don't show the bathrooms do they, thanks for pointing that out. I wonder why though ?

they do.

actually, if you look at the pic I'm referencing I'm being sarcastic.
Looks plain jane, like a home depot $199 vanity.

[travelguy_73]

Asking and getting are two different things. I used to live in Eastwood, and made decent money on the sale of our house, but it is nowhere near the point where someone will pay this much money for a home there (and on a busy street with a bus route).

With that said, the improvements in the area, and the recent run-up in housing prices have brought in investors who shied away from the area until now. So while Eastwood isn't even close to seeing the appreciation and desirability of the Heights, it is showing good signs of being somewhere on that path.

[Jack Lance]

Originally Posted by travelguy_73

Asking and getting are two different things. I used to live in Eastwood, and made decent money on the sale of our house, but it is nowhere near the point where someone will pay this much money for a home there (and on a busy street with a bus route).

With that said, the improvements in the area, and the recent run-up in housing prices have brought in investors who shied away from the area until now. So while Eastwood isn't even close to seeing the appreciation and desirability of the Heights, it is showing good signs of being somewhere on that path.

Yea being on McKinney threw me at first, you expect to see a skyscraper on that street. Where does the bus route begin ? It seems like it would be a residential route as opposed to what you would expect on Harrisburg or Navigation.

[travelguy_73]

Originally Posted by Jack Lance

Yea being on McKinney threw me at first, you expect to see a skyscraper on that street. Where does the bus route begin ? It seems like it would be a residential route as opposed to what you would expect on Harrisburg or Navigation.

The best way to describe it is a collector street (and that might be what it is technically called). So there's a solid yellow stripe down the middle, yet only one lane in each direction (as contrasted with Leeland, which is two lanes in each direction).