Home Buying in 30314>Question Details

Marcus Phill…, Home Buyer in Stone Mountain, GA

I've decided to buy a house in Atlanta, with the purpose of buying and holding. I've narrowed it down to the

Asked by Marcus Phillips, Stone Mountain, GA Thu Jul 24, 2008

following selections: 600 Jones Ave, 30314 for $79,900; 7 Park Ave, 30315 for $79,900; 781 Cooper St. 30315 for $94,000. Which will be a wise investment between these three properties? Thanks in advance.

Help the community by answering this question:

Answers

7
Without thoroughly researching each property a smart determination cannot be made. The asking price is pretty similar. What are the exterior of the homes made of? What is the condition of the plumbing and electrical? How is the roof? Location is critical, such as busy roads, overhead power lines, train tracks. Those things don't bother everyone, but can provide a challenge when reselling in the future. What is the yard and driveway like? I'm not talking about cosmetic, but more about the slope of the land. How many bedrooms and baths? These are all things to consider. A good agent should be able to help you narrow down your list. If you are not represented, please feel free to contact me.

Jennifer Bowman
Success Realty
404-456-5024
http://www.JenBowman.com
Web Reference: http://JenBowman.com
1 vote Thank Flag Link Thu Jul 24, 2008
Marcus,

They all three have massive potential. A number of factors to consider include:

1) condition of the subject property (How much $$ to fix up/ what repairs are needed?)
2) Layout of the house: is it good for renters??? (if you are renting)
3) condition and circumstances of the neighboring properties
4) vicinity to schools parks and grocery store, etc.
5) WHAT is your GUT feeling??

Thanks,

Robert Tindall
Realtor
Better Homes and Gardens Real Estate Metro Brokers
404-233-8308
http://www.AtlantaIntownRealty.com
0 votes Thank Flag Link Fri Oct 26, 2012
maaaaan i was just in your situation a few months ago.... I looked at that home near Turner Field and then homes in Vine City..... I really REALLy liked some of the homes in the Turner Field / Summer Hill 30315 are but some I just didnt like the "block" they were on........ Copper St is OK to me..... ut I didnt didnt like the Ralph David Abernathy area.... but im sure on day this would up and coming.........

I took a chance on the 30314 area and purchase a house real close to the 600 Jones Ave... ( if you move there we'll be neighbors! I can see that house out one of my windows.... there are a lot of houses foreclosed on in that area - it seems like they tried to revitalize that area about 2-3 years ago -- the house is full of NEWER HOUSES - built after 2004 - vandalized / foreclosed on..... but once the market rebounds you will never ever be able to live 1/10th of a mile from the World Congress Center and 0.4 miles from the Aquarium , etc for $90,000.... some of the "element " is still renting or maybe even homeless in the neighborhood but that part of Jones is real decent... They call that part of town MIDTOWN WEST - i really think that this area has potential....... like i said I just closed on a property about one block away... i see the potential.... i looked at Park Ave...... isnt that all the way down by Lakewood........ that was too far for me....... Its not about just moving TO ATLANTA - i think its about moving to atlanta in a place that CLOSE TO the skyline of Atlanta... and the Vine City is definitely the closest of the 3 you mentioned....

do the Jones St........ we need more HOME OWNERS WHO CARE to bring this community to its FULL POTENTIAL..... dont buy and hold........... buy and LIVE in ....... enjoy the closeness to the city ........ then sell it once the market rebounds..... I got mine for $97K original selling price in 2005 = $202K!!! , i had to pump $40K in reparis and upgrades into it so as long as I clear $137K one day on a 3 bed 3 bath home built in 2005, 1760 square feet - walking distance to Centenial Olympic Park, night life, sporting events, etc - I'll be TOO HAPPY!!! happy house hunting.............
0 votes Thank Flag Link Thu Aug 7, 2008
Boy, Jones St has a lot of foreclosures right now - therefore a lot of investors. As far as I know, most of the homes have been vandalized since they have been vacant. So, if you buy that one what would you do to prevent vandalization of your repairs, etc.? - I think 30315 may be a better zip.
0 votes Thank Flag Link Tue Aug 5, 2008
Is the house of choice on a quiet tree-lined street, free of stigmas?

Can you drive down the street with the windows down at 745pm with your family in the car and love the neighborhood?

Is one school district slightly bettter than the other?

How close will you be to a proposed Beltline trail, park or stop?

Embrace some basic investing fundamentals and maybe you'll have a wise Southside investment, but give it ten years.
Web Reference: http://intowninsider.com/
0 votes Thank Flag Link Thu Jul 24, 2008
Consult a good local Realtor who will be able to provide a good comparative market analysis for these three neighborhood areas. Secondly, you can do some of your own research on Trulia. Are you aware that you can enter the addresses and receive recent sale prices for other properties near those that you mention?

You must also consider the condition and appeal of each of these properties. Are you going to live in one of these homes, or will the house become a rental or renovate and flip investment? If so, how much should be updated with each of these homes to maximize the future sale price? Remember that your goal is NOT to be the best house in the neighborhood because the other homes will tend to bring down the value of the house. On the other hand, it this is clearly among the lower priced homes in the neighborhood, could you improve the home to bring it up to the median standard and still sell at a profit? Is the neighborhood seeing considerable renovation and you will be joining the trend? The neighborhood always sets a standard for how much to invest. Good luck with your purchase in Hotlanta!
0 votes Thank Flag Link Thu Jul 24, 2008
Marcus,
Do you have a REALTOR? You really need to ensure you are represented in this.
Web Reference: http://www.torilawson.com
0 votes Thank Flag Link Thu Jul 24, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer