Looking at houses in 75230 area. Is this good area for investment? Lots of million$ homes around.

Asked by Linda Harding, Sun Jan 27, 2008

Could get more home for money in other areas but if we invested in this area would we be better off with regards to future appreciation. Thanks for any info.

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6
Michael Russ…, , 75006
Tue Mar 16, 2010
Just to update there 202 Homes for sale listed under $1 million and 79 for $1mill plus in 75230 as of March, 16, 2010. These are "blue chip" properties much like stocks their rapid appreciation days may be over but slow steady growth. Some tear downs to build luxury homes occuring, few foreclosures, majority are well maintained. I would say it's a sound investment area. Buying the ugly house on the block could defintitely benefit one here. Best of luck
0 votes
Lydia Player, Agent, Dallas, TX
Fri Feb 1, 2008
Linda, I live and work in the heart of Preston Hollow - 75230 - and I know every street in this area. As Bruce said, we have enjoyed fantastic appreciation in this area. He is right about the public schools and most families in this zip code send their kids to one of the many private schools. There are almost no apartments or condos in this area.
Lot prices in this zip code vary based on size and proximity to busy streets. A 100x200 lot ranges from $250,000 to $900,000.
You can find a few sales stats that may help you here:
http://www.lydiaplayer.com/f-dash.asp?Page=172637.html
If you are looking to buy in this neighborhood, you (or your agent) needs to keep a close eye on the listings. The good buys sell very quickly.
Web Reference:  http://www.LydiaPlayer.com
0 votes
Bruce Lynn, Agent, Coppell, TX
Wed Jan 30, 2008
This area has been a great place to live, not sure about investment with rental potential. Schools probably aren't the best in the metroplex. This area did have probably one of the best appreciation rates last year for the entire Metroplex. I'll guess it was up about 20%. I'll also guess that has slowed some in the past 3 months or so, but that's a guess depending on who you ask and what stats you research. If you are strictly looking for a rental then I would probably stay in lower price ranges. Somewhere below median for the entire area....not just 75230. Let me know if I can help.
Web Reference:  http://www.teamlynn.com
0 votes
Dot Chance, Agent, Burbank, CA
Mon Jan 28, 2008
True, 75230 has a lot of older homes but there are many, many homes there less than 5 years old. As with any transaction, if you want it for an investment property you need to get a good deal!
Web Reference:  http://www.DotChance.com
0 votes
T.E. & Naima…, Agent, Dallas, TX
Mon Jan 28, 2008
There are right now 17 homes for rent in the 75230 area ranging from $1950 to $8500. I don't think that from an investment point the area would be the greatest because of the age of the homes, you will have more maintenance, lots of competition from surrounding apartment complexes and condos that are selling real cheap.

Unless you get a deal, I would look somewhere else. Sorry if it's not what you wanted to hear.

If I can help you in anyway, please feel free to contact me.

Naima
214-289-8555
naima@sumner-realty.com
Web Reference:  http://www.sumnerrealty.com
0 votes
Dot Chance, Agent, Burbank, CA
Sun Jan 27, 2008
Hi, Linda. I am originally from Dallas and my sister lives in 75230. Historically, that area has always held its value. I am amazed every time I go back there and see all the beautiful, enormous homes. There are so many gated communities around there.

I think this is one of those things where you have to weigh out what you are looking for. That area is definitely a quality area! If I were to move back there (not going to happen), I think that is the area I would look in.

Another great area is the Briarwood area right off of Lovers Lane (not just because we are selling my mother's house). I grew up in that neighborhood and it has gone through major changes.

If you need a good Realtor I know a great one to refer you to. Let me know if I can help!
Web Reference:  http://www.DotChance.com
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