I have been getting mixed info on houses in the Historical District of South Dallas. I know its a bad neighborhood but some people have been telling me that its starting to turn around and people are buying and revitializing the neighborhoods and they will be worth more in the future.
Right now I am just buying cheap for rentals but I don’t know if I want a house in this area.
I would like some input on this. What is really going on in this area? Are they good rentals or will I get shot if I go to my house? Also does anyone expect to see this area go up in value? I don’t see how given the current market, even nice homes are selling for cheap and this one is in the hood, even if it is Historical district.
I have a house under contract in this area and Now am not sure if I want to proceed.
South Dallas is the worst part of Dallas, and 75% of everything within the City of Dallas border is run down, poor or rough to start. All the nice houses, minus 25% of what’s there, are in the suburbs. So to answer your question more specifically — there is a good chance you will get shot in South Dallas. Think cocaine, pimps, trashed streets, beggers, etc. Think Compton, but far worse.
Anyway - you can get some good deals in South Dallas that do make good money though! =)
Thanks for the respsonse. Do you think this historical area is really ever going to be worth anything given the bad neighborhood? I don’t mind bad neighborhoods if I can make some money. Funny you mentioned compton, I bought a house there a years back before the skyrocketing prices for $60k and a few years later it was worth $300k, in the HOOD, no less!! I was brave, or crazy…how ever you want to look at it, I went there myself to the house, never had any problems, even at night…LOL…
I don’t expect that sort of appreciation from this area but I know some neighborhoods that have been pegged historical get a good boost in prices and I am just wondering if this will be the case here…I just don’t forsee anyone wanting to pay a decent price for living in the hood no matter how nice the house is…What are the best suburb cities to buy in?
Dallas has been trying to clean up their act, and has been doing good. Downtown area has improved alot, and I think the changes are radiating from the center. It will just take time.
As for The Compton analogy is about spot-on, but look what happened to you when you invested there! Would I live there? No, but if the right deal was presented to me there I would take it. I would tell you to remember what kind of tenants you’ll be targeting and to rehab accordingly, but if you already did Compton, you know what you’re doing!
Please Note: I am a very new rehaber, Im only just looking for my first house.
However, I own a home and live about 10 min from there, and the homes on South Blvd are beautiful. I would by a home and live there eventhough it looks like a ratty part of town and I do believe things will turn around for parts of the South. Alot of people I know, including myself love living on the South Side. But just like everybody else, people who live there want somewhere new or like new to live. If I had the capital I would invest in the area.
Just be careful where you rehab on the south side. Some parts are really, really dingy and have little hope for improvement in the next 10+ years (e.g. anything off I-45 south of downtown). Some areas of Oak Cliff, though, have had superb appreciation. And even in Pleasant Grove too.