Profile picture for NaiveBuyer

Medical District properties

What is the housing market like around the Medical District.  Will be working in the area, so is it worth buying one of the townhouses as an investment property?  I want to say that there will be dramatic appreciation with the new hospitals and the recent economic boom but am afraid that the appreciation already been incorporated into the prices.  Lots of new townhomes and rental properties are being built.  Would you consider buying and then renting/selling after 4 or 5 years? What do you all think about the new townhomes built near the medical district on Maple Ave. and Stutz Dr.
  • March 30 2014 - Love Field Area
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Answers (3)

Profile picture for USMortgageRanger
Its buy now or pay high rent for the next five years after all you will be in the drivers seat and can take the tax deduction on the owner occupied property and the depreciation on the rental unit later on. You will also have the choice of not putting up with coming  home to find you do not have a place to park or the dirty neighbor.  I would be more than happy to assist  you in finding the right mortgage. I can be reach via my profile.
  • March 30 2014
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Profile picture for NaiveBuyer
Thanks for the quick answer Bruce.  What about a purchase with intentions of living there for 3-5 years and avoiding the rental market that seems to be over-priced?  Is a townhouse, like the two on sale a decent investment or would you just rent?  Seems like they have some good rentals in the area and it could be a good investment say I decide to put it up for rent or stay in the area.  I understand no one can predict, but with your experience in the DFW area and the recent construction there, is it worth it even I stay only for 3 years and decide to sell?
  • March 30 2014
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There is very little for rent or sale in the area.
On Stutz I think there are two rentals currently for $1600 and $2000+.  The lower priced one will be gone this weekend.  There are also only a couple for sale right now at $225,000 and $275,000
No one can accurately predict appreciation.  Dramatic??? that's a strong word.....will there be demand...yes probably as you mentioned.  Places like Stutz pretty much attract the medical center people....residents, students, staff.   Since there is not much else around.   
There are always lots of things out of our control that could affect pricing either way....where will interest rates be next year or five years?  Will the government or anyone else continue to fund research?   How will medical care continue to be funded...
There's also been dramatic increase in apartments in the area.   Virtually none there five years ago.  So that can be good and bad....good news is rents are pretty high in the apartments and creates even more traffic to see the condos/townhomes.  
Overall right now it seems to be a fairly high demand area, and from the looks of things that should continue for the foreseeable future.
The nicest thing for the area would be if there would be some retail and restaurants built....and maybe some kind of park....that may come now there is higher density high income people living in the area now.
  • March 30 2014
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