Home Buying in "M" Streets>Question Details

Ntxguy, Home Buyer in

What are your thoughts on the newer duplexes that have been built in the M streets compared to single family dwellings? Will their value hold up?

Asked by Ntxguy, "M" Streets, Dallas, TX Mon Dec 14, 2009

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7
It's just speculation, but they certainly followed rule #1 in real estate: Location!
Ronda
0 votes Thank Flag Link Mon Feb 22, 2010
The duplexes/single family attached in the M Streets have an increased days on market. They are builkt that way to get more out of the standard lot size for new construction. Look at it this way, if you can have single family or attached for the same price...get a full back yard and not listen to your neighbors oinse what are you going to buy first???

For my money and experience, buy single family.

Best of luckba
Helen Karuba
hkaruba@virginiacook.com
0 votes Thank Flag Link Mon Feb 22, 2010
Hey NTX Guy

I like duplexes. I think they are a great first time purchase to get into the market with someone else helping on the mortgage.

That being said - the new construction is being killed right now. It's been a few years since the peak and if you aren't positioned well - with rents covering the mortgage - you could be at risk.

Remember, duplexes are INCOME PROPERTY and investments have to be structured right to make sense.
So many "investors" were really "speculators" hoping that the values would continue up and they could make a quick buck. Now the rubber is hitting the road.

Which makes it a great time to buy :-)

So, bottom line is, what's your goal?
Are you wanting to live in the duplex and rent the other side? That makes a great first time plan.
Are you buying income property - 'cause if you are trying to do that in the M streets you gotta have a big down payment to make a SFR cash flow here.

Good luck and feel free to shoot me your ideas - I'd be happy to give you my two cents about the feasibility of your plans.

Rebekah

Rebekah Owen, MBA
Managing Broker
http://www.BenchmarkProperties.com
650-492-5958 214-257-0193
CA#00994952. TX#0555675

Skype Me at:Rebekah_O
0 votes Thank Flag Link Thu Jan 28, 2010
Hello! Interesting question... and it all depends on what your ultimate goal is. If you are trying to get into a neighborhood that is above your price point and want to add some additional financial income buying a duplex is a great way to achieve that. A duplex is a duplex, a single family is single family. So if you look at it from the standpoint of an appraiser he or she is going to compare the property to like subjects. The way I would recommend looking at this is from an investment standpoint. If you are going to stay in the property for a while you can lease the other unit and have some additional cash flow. If you are going to buy it for an investment what kind of cash flow are we talking about? Are you paying cash or financing? Buy it at the right price, rent it at a reasonable rate, maintain it and decide how long you want to hold the property and it can very well be a good investment!
0 votes Thank Flag Link Sun Dec 20, 2009
Professional code of ethics prevents a Realtor make any comment on this particular subject matter.

It depends on lifestyle. Entire area of Mstreets everyone wants to reside there HOWEVER limited homes if so many may have issues based on age of property and home ownership for care.

Who can't love M streets area, I still have friends living in area, I use to off lower Greenville.

Duplexes are quality much of demographics of area are young professionals who are either medical or attorney's who need quick access to reach Medical District or Downtown . Many of residence may not be married, if so have young children not in elementary school yet.

Many empty nesters are selling their large homes downsizing not take expense of maintaince for large yards, with landscapers, pools and etc. provide great solutions.

Families who have reside in home not want a high rise living these properties are great solutions.

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Lynn911
0 votes Thank Flag Link Sat Dec 19, 2009
Not a chance. Duplex's are the worst for holding value. Experienced investors know this.
0 votes Thank Flag Link Tue Dec 15, 2009
The majority of duplexes are concentrated on streets in the southern streets off Greenville or in the northern streets near Mockingbird which are streets that are not covered in the conservation districts that are usually considered the MStreets. The duplexes were built when Builders could get a lot for less than $225K. I think a single family home will always hold it's value better. But,there is a desire for a new build home and for cost reasons-a single family home may be out of reach. I think some of the duplexes that have been built are a bit overpriced and some of the builders are taking a hit now. I think it's more important to look at the neighbors to the duplexes(location-location-location). I have lived in the MStreets for 12.5yrs and have sold homes and represented buyers throughout the years and the MStreets will always have a draw to new buyers. Give me a call if you have any specific properties you are considering and we can talk about the values. Good luck in your search-the MStreets are a great area of town and a wonderful community!
0 votes Thank Flag Link Tue Dec 15, 2009
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