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203 Aurora St.


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The property at 203 Aurora (near the corner of Harvard) is a house that according to the plat and property-line, is the south 77ft of that address.  There is a "0 Aurora" that is the NORTH 43 ft of that property, facing the popular Heights alleyways (HCAD link) and is for sale via Linebarger-Goggan (LINK) and could be obtained very cheaply.   The property there seems to be nothing but the backyard for the property of 203 Aurora.  I'm trying to figure out, I guess, how or why in the hell did someone break up these properties in such a way that makes the backyard a separate property and difficult to get to.  If it wasn't for the public alleyway, you wouldn't be able to get to it at all.  I know that there are access rules when buying property.  Would the owner of 203 Aurora be forced to provide Aurora driveway access to me for the backyard property it if was purchased?  With Heights area property so expensive, if the property could be had cheaply, could it make sense to put a "tiny house" on the back and rent it out?  Let's say that the property behind 203 Aurora could be had for $23,000 - which is a steal!  Then, put a $30,000-$40,000 "tiny house" on the back.  Total investment, $60,000-$70,000.  Rent a 200-300q/ft "tiny house" out for $1200-$1400 a month, that's a superb profit margin.    


Can I get some comments from HAIFers?



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My humble opinions:


I think you might have underestimated what you can get the property for, unless you know something I don't. Also, you would have to pay for the rights to access the property, via the neighboring lot. The law does not force someone to turn over access, you actually have to agree to it and usually pay, unless the owner is just that kind (which is possible).  Also, I think that you are overestimating the rent you can charge for a tiny house, even if it is in the Heights...but it's something to consider.

Good luck in your search. 

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The front property looks to be held by an investor. I would have to assume that they will be trying to buy the property so they can put the two lots back together and build a giant house. I would assume that the investor will be ready to bid fair market value of 100k+. If not, maybe the play is to buy it cheap, put up a garage apartment house and rent it until the owner of the front property buys it at a nice profit to you.

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