Home At 2200 Harvard St.

[J008]

Not that unusual, at least in Houston. Here is my example based on my rental near Hwy6 and Westhiemer.

2008 HCAD appraisal ~99K, Rent 950.00

2012 HCAD appraisal ~59K. Rent 1,100.00

Looks like a steal then. A ~9 yr pay out to 4.

I have only looked in the heights and specifically in historic districts, hard to find anything that has gone down the 40% you mentioned above.

A quick look on Har shows there are quite a few houses in your area with those metrics. Sounds like a good deal, I am just not familiar with that area.

[TGM]

Next time try a stock with good fundamentals that pays a dividend. As an investment, real estate is a very fickle thing.

Just keep in mind that the dividend tax rate is increasing next year when you are considering your investment strategies.

http://www.asianjournal.com/dateline-usa/15-dateline-usa/17515-the-dividend-tax-increase-how-it-can-affect-you.html

[kylejack]

Not on my Roth IRA.

[JJxvi]

$250,000 bungalow in 2000!? My goodness.

[s3mh]

Price dropped to $1,490,000.  Given the market appreciation in the Heights, this house is kind of a good deal now.

[Jesse]

Price dropped to $1,490,000.  Given the market appreciation in the Heights, this house is kind of a good deal now.

 

At $449 / sq ft, I'd say it's still on the pricier side.

[Angostura]

Given the park-adjacent, corner location, the unusual design, and the surprising lack of privacy, it is, shall we say, "selective in its appeal".

 

It might make more sense converted to an event space.

 

 

[s3mh]

It might make more sense converted to an event space.

 

I thought it was an art gallery when I first saw it. 

[s3mh]

http://search.har.com/engine/2200-Harvard-St-Houston-TX-77008_HAR21567263.htm

 

Another price drop.  It is now pretty much in line with the market for a 3000+ sq ft home on an oversized lot in the Heights.  One of a kind architecture thrown in for free.

 

[Angostura]

I guess some one-of-a-kind architecture sells faster than others.  The converted grocery store at 9th and Rutland sold on the first weekend for about the same price per s.f.

 

The buyer of this property will need to fit into all of the following categories:

 

- people who want this kind of architecture

 

- people who want to live in (this part of) the Heights (as opposed to Montrose, Museum District, etc.)

 

- people who have $1.3M to spend on a house

 

 

Two out of three seems plausible; all three is apparently pretty rare.

 

[JCR]

7 figures for a house with no garage?

[s3mh]

I guess some one-of-a-kind architecture sells faster than others.  The converted grocery store at 9th and Rutland sold on the first weekend for about the same price per s.f.

 

The buyer of this property will need to fit into all of the following categories:

 

- people who want this kind of architecture

 

- people who want to live in (this part of) the Heights (as opposed to Montrose, Museum District, etc.)

 

- people who have $1.3M to spend on a house

 

 

Two out of three seems plausible; all three is apparently pretty rare.

 

There are way more people out their with @500k to spend than with over 1 mil.  That is primarily the reason the converted grocery store sold so fast (I have heard that it went on the market with an offer already pending).  Also, if you can spend 1.3 mil on a house, you can afford to build your own one of a kind modern thingy.  It will be interesting to compare the Harvard house with this one in Woodland Heights:  http://search.har.com/engine/515-Ridge-St-Houston-TX-77009_HAR31762194.htm.  The latter is more conforming to the current trend of modern design, while the former is truly unique. 

[Angostura]

There are way more people out their with @500k to spend than with over 1 mil.  That is primarily the reason the converted grocery store sold so fast (I have heard that it went on the market with an offer already pending).  Also, if you can spend 1.3 mil on a house, you can afford to build your own one of a kind modern thingy.  It will be interesting to compare the Harvard house with this one in Woodland Heights:  http://search.har.com/engine/515-Ridge-St-Houston-TX-77009_HAR31762194.htm.  The latter is more conforming to the current trend of modern design, while the former is truly unique. 

 

 

More house, albeit less lot.  More (i.e. some) privacy, and more open-feeling spaces inside. An elevator, closer to downtown, zoned to Travis. Plus a skyline view.  If the Harvard house sells for within $300k of this one, they've done well.

[s3mh]

More house, albeit less lot.  More (i.e. some) privacy, and more open-feeling spaces inside. An elevator, closer to downtown, zoned to Travis. Plus a skyline view.  If the Harvard house sells for within $300k of this one, they've done well.

 

Schools don't matter when you are in the 1 mil+ range.  If you are buying a house for that much and need public schools for the kids, you shouldn't be spending that much on a house.

 

The view from Ridge is mostly the wall of the condo complex across the street.  The skyline view is offset by the constant din of I-10 traffic.  Closer to downtown, but further from the heart of the Heights and all the shops and restaurants.  Next door neighbor is an old multifamily complex that could end up being a midrise Morrison Heights-esque development.  And who knows if some big money developer would endeavor to buy up the townhomes across the street someday.  By contrast, the neighborhood around the Harvard house is solidly single family.  I think Ridge will sell for a bit more just because the design puts more of a priority on function and isn't so far out of the current fashion for moderns as Harvard.  But it will be fun to watch and see what happens.

[RedScare]

Once again, s3mh attempts to sound like he knows what he is talking about...and fails spectacularly.

 

I give you "the wall of the condo complex across the street"...

 

 

 

 

[JJxvi]

winner

 

[s3mh]

Once again, s3mh attempts to sound like he knows what he is talking about...and fails spectacularly.

 

I give you "the wall of the condo complex across the street"...

 

 

 

 

 

Reading comprehension is not your strong suit.  I said: "The view from Ridge is mostly the wall of the condo complex across the street."  Most people understand that Ridge is a street, and not the third or fourth floor of a house.  The view from street level matters for most people as they want to see nice houses across the street from them when the go out for a walk or sit outside.  A city view is nice, but it is at the expense of looking in on a very dull and a bit shabby condo complex.  The view from Ridge, the street, is exactly what I said it is.  I never said there was no city view.  But, it is never what I actually say that is the subject of your posts.  It is what you need for me to say but did not say.

[RedScare]

Your attempt at redeeming yourself is a more spectacular fail than your initial statement. But, I like it!   

[barracuda]

Reading comprehension is not your strong suit.  I said: "The view from Ridge is mostly the wall of the condo complex across the street."  Most people understand that Ridge is a street, and not the third or fourth floor of a house.  The view from street level matters for most people as they want to see nice houses across the street from them when the go out for a walk or sit outside.  A city view is nice, but it is at the expense of looking in on a very dull and a bit shabby condo complex.  The view from Ridge, the street, is exactly what I said it is.  I never said there was no city view.  But, it is never what I actually say that is the subject of your posts.  It is what you need for me to say but did not say.

The street view matters in the case of bungalows with front porches facing the street. However, 515 Ridge street is walled off from Ridge street like a fortress. As such, I doubt the view at ground level makes much difference for those interested in this house. 

 

 

[s3mh]

Your attempt at redeeming yourself is a more spectacular fail than your initial statement. But, I like it!

I would not expect you to understand my comments as your goal on this message board is not to engage in an adult conversation but to have a childish battle with those who disagree with you. It is actually more and more a very sad thing to see.

[RedScare]

Actually, my only goal with your posts is to ensure that your extreme anti-property rights views do not go unrebutted. Pointing out your random fabrications is merely sideline amusement.

[Angostura]

Reading comprehension is not your strong suit.  I said: "The view from Ridge is mostly the wall of the condo complex across the street."  Most people understand that Ridge is a street, and not the third or fourth floor of a house.  The view from street level matters for most people as they want to see nice houses across the street from them when the go out for a walk or sit outside.  A city view is nice, but it is at the expense of looking in on a very dull and a bit shabby condo complex.  The view from Ridge, the street, is exactly what I said it is.  I never said there was no city view.  But, it is never what I actually say that is the subject of your posts.  It is what you need for me to say but did not say.

 

 

To be fair, in the same post you used "Ridge" as synecdoche to refer to the house. It's reasonable to interpret that sentence the same way.  I did. Especially considering that most people are more concerned with the view from inside the actual residence, not from some point just outside the front gate. 

 

That said, yes, this house has multi-family on one side and a condo compex across the street. And yes, that skyline view may go away some day if someone buys up that condo complex and builds 6-story apartment buildings in its place. But still, this address is more desirable than 22nd and Harvard.

[SilverJK]

This is actually one of my favorite houses in the neighborhood.  I also doubt your school zoning not being a concern.  Even if you plan to send your kids to private school, this is something you would look at (unless your stupid I guess) for reasons outside of your own children...

[s3mh]

Actually, my only goal with your posts is to ensure that your extreme anti-property rights views do not go unrebutted. Pointing out your random fabrications is merely sideline amusement.

 

Actually it is a blatant effort at intimidation and harassment.  I have seen you do it to others.  There is no substance to your childish nitpicking other that to discourage people who do not share your views from posting on your little message board.  And it is my goal to make sure that people who do not share your extremist libertarian ideas are not shut out by your intimidation and harassment.

[s3mh]

 But still, this address is more desirable than 22nd and Harvard.

 

I would call it a draw, at best.  Advantage to Harvard.  The entire south side of Ridge is the condo complex.  While you do get a view of downtown (I never said you did not), you get an equal view of the parking lot at the condo complex: http://search.har.com/engine/dispSearch.cfm?mlnum=31762194&v=s  Red Scare conveniently leaves out the second floor photos and falls for the well positioned camera work of the realtor's photographer that minimizes the view of the condos.  That is a pretty lousy view for 1.6 mil.  The block on Harvard is single family with a nice park right behind the house.  It is a half mile walk to 19th street, close to the jogging path and bike path.  I think the Harvard house will sell for less because the design is just too far out there, not because of the location.  Also, 1 mil+ will get you into a lot of choice neighborhoods inside the loop.  Most people would prefer a typical brick/stucco thing in RO, West U over a crazy modern in the Heights or would want to design their own modern.  So, I would imagine that the property on Ridge will come down a bit before it sells. 

[heights]

to discourage people who do not share your views from posting on your little message board.

 

If only it would work.

[SilverJK]

S3mh calling someone an extremist is like the Pope saying someone is too catholic.

[JJxvi]

The land at 22nd and Harvard is undoubtedly more desirable, simply because it is a larger piece of property.  The land on Ridge is going to be worth a lot more on a per square foot basis.  There are no recent land sales on Ridge, but lots in the area go for $45-50 a foot while lots around Harvard and 22nd go in the upper $20-mid $30s a foot.  Land is more desirable around the Ridge property.

[Angostura]

The land at 22nd and Harvard is undoubtedly more desirable, simply because it is a larger piece of property.  The land on Ridge is going to be worth a lot more on a per square foot basis.  There are no recent land sales on Ridge, but lots in the area go for $45-50 a foot while lots around Harvard and 22nd go in the upper $20-mid $30s a foot.  Land is more desirable around the Ridge property.

 

 

Exactly.

 

Sunset Heights (where the Harvard property is) is still in the process of gentrifying, whereas the region around the Ridge property is pretty much already there.  Also, the Harvard house is half-a-block from a middle school, and in a direct path between that middle school and the public park that borders this house to the north.  I'm at that park frequently, and unsavory behavior, while not as common as it once was, is not unheard of.

 

But ultimately, both houses are worth what someone will pay for them. I wish both sellers the best of luck.

[s3mh]

The land at 22nd and Harvard is undoubtedly more desirable, simply because it is a larger piece of property.  The land on Ridge is going to be worth a lot more on a per square foot basis.  There are no recent land sales on Ridge, but lots in the area go for $45-50 a foot while lots around Harvard and 22nd go in the upper $20-mid $30s a foot.  Land is more desirable around the Ridge property.

 

We are talking about a specific address, not an entire neighborhood.  Woodlands Heights has always been more expensive than Sunset Heights.  Bayland, Woodland and Highland are some of the best streets in the area.  But that is because they are tree lined streets full of beautiful homes.  If all those streets were looking at the butt end of a condo complex, they would not go for $45 per sq ft.