Sevzer Posted October 18, 2006 Share Posted October 18, 2006 Would someone like to give me their thoughts/advice on purchasing property around UH near Scott? 1 Quote Link to comment Share on other sites More sharing options...
VicMan Posted October 18, 2006 Share Posted October 18, 2006 (edited) Some of the subdivisions in the U.H. area have lots as big or bigger than River Oaks. There are also several slum areas around those subdivisions.The subdivisions include:* Riverside Terrace* Oak Manor/University Woods* University Oaks* Washington TerraceSchool-wise, the Houston ISD schools in the U.H. area are not considered to be that good. To see which houses are zoned to which schools, use http://dept.houstonisd.org/ab/abcx_tool/search.aspIf you plan to have kids, I would send them to the HISD schools in the West University/Uptown/River Oaks/Bellaire/Meyerland area or send the kids to private schools. Edited October 18, 2006 by VicMan Quote Link to comment Share on other sites More sharing options...
Sevzer Posted October 18, 2006 Author Share Posted October 18, 2006 Well, I don't have plans to move there anytime soon, I just found a lot that I liked that I thought I could hold on too in case I want to build a home there in the next 5-8 years. I know that whole area is going to be redeveloped in the future and I am hoping that maybe by then I might really decide to build another home in that location. I am just trying to find out if anyone really thinks that area is hot? Quote Link to comment Share on other sites More sharing options...
musicman Posted October 18, 2006 Share Posted October 18, 2006 There are many nice homes in the vicinity however they may be next to some bad areas. If you like the area and find it attractive buy it. If you don't, then maybe others won't either. As usual, this is subjective. I know that there is an apartment complex near southmore and scott that we used to skate by and you ALWAYS smelled pot. And there is a convenience store that the HPD closed down (macgregor/scott) until the owner would hire security because too many drug transactions were happening. But yet nearby there are some great homes. Quote Link to comment Share on other sites More sharing options...
WesternGulf Posted October 18, 2006 Share Posted October 18, 2006 (edited) Well, I don't have plans to move there anytime soon, I just found a lot that I liked that I thought I could hold on too in case I want to build a home there in the next 5-8 years. I know that whole area is going to be redeveloped in the future and I am hoping that maybe by then I might really decide to build another home in that location. I am just trying to find out if anyone really thinks that area is hot? Fortunately areas like University Oaks are quiet as far as developers coming in. There are a couple of McMansions that have tried to squeeze in between some cottage style bugalows but that is bout it. I think the area being a secret is best in my opinion. My grandmother just recently moved out of the neighborhood to Austin for retirement. Edited October 18, 2006 by WesternGulf Quote Link to comment Share on other sites More sharing options...
VicMan Posted October 18, 2006 Share Posted October 18, 2006 My European History teacher told me that many Riverside Terrace residents are elitist and do not want anything to do with their poor neighbors.The residents, according to my teacher, do not send their kids to the local public schools. Quote Link to comment Share on other sites More sharing options...
mpbro Posted October 18, 2006 Share Posted October 18, 2006 (edited) Well, I don't have plans to move there anytime soon, I just found a lot that I liked that I thought I could hold on too in case I want to build a home there in the next 5-8 years. I know that whole area is going to be redeveloped in the future and I am hoping that maybe by then I might really decide to build another home in that location. I am just trying to find out if anyone really thinks that area is hot? I like your strategy and wish I had some cash to try exactly what you mention. Here's a link to information about the marquee part of Riverside Terrace, mostly the homes along Macgregor near Scott. I don't know the area well, but you can search around and see if you find anything interesting. Take a look at this property -- nice example of 1950's construction. For land speculation, a tried and true strategy is to a) find a nice area, buy lots nearby, and c) wait. Or, if you're a developer, c) build some spec houses on the cheaper land and try to convince people that the area is just as nice as the "nice area". You see it happening on the fringes of West University Place and The Heights. Here, I would worry about such a strategy, because I'm not sure there's the critical mass of developers willing to bet that their investment will pay off. Until then, I'd guess that gentrification will be a more organic process. At least the land is cheap everywhere--for $100K you can easily buy a 10K sqft lot. Good luck! Edited October 18, 2006 by mpbro Quote Link to comment Share on other sites More sharing options...
Guest danax Posted October 18, 2006 Share Posted October 18, 2006 It's hard to time potential appreciation and "black" areas can be slower to gentrify, unless they are slashed and burned like 4th Ward, but waiting until the yuppies start to move in would mean a much higher price of course. Gambling on the Southeast Metrorail line? The Red Line still hasn't panned out for speculators, it would seem, so a spiffed up bus through the hood would not be such a big deal.Make sure there aren't too many apartments nearby too. Garnet Coleman might own them and they'll never improve then. Quote Link to comment Share on other sites More sharing options...
mpbro Posted October 19, 2006 Share Posted October 19, 2006 Here's another Riverside Terrace subdivision; this one is closer to 288. Sales data show a favorable trend. Land values still under $10/sqft (HCAD). Average homes seem to be selling for $200K--you're hardly in the ghetto! I'm surprised, there are some nice houses over there (one, two). Quote Link to comment Share on other sites More sharing options...
jlt1988 Posted October 19, 2006 Share Posted October 19, 2006 (edited) I am a real estate buyer's agent and only two buyers in nine years have mentioned that area to me. So I would have to say that appreciation and/or resale might be difficult. Also, you want to stay away from lots of apartments, as mentioned by danax. Edited October 19, 2006 by jlt1988 Quote Link to comment Share on other sites More sharing options...
VicMan Posted October 19, 2006 Share Posted October 19, 2006 I have a friend who lives with her boyfriend in a really bad apartment complex near TSU. I wish they would live in a nicer complex reasonably close to TSU.Is it a good idea to report possible safety violations of the complex to the city? It didn't feel right to me. Quote Link to comment Share on other sites More sharing options...
Ethanra Posted October 19, 2006 Share Posted October 19, 2006 Would someone like to give me their thoughts/advice on purchasing property around UH near Scott? If you can afford to buy a couple of small homes, IMO take the risk. I bought two small "shacks" in that area and rent them out. I barely break even but have some equity with it. I beleive the pay off will be with' in a decade as the value of the property goes up and then I'll find the right time to sell it to a developer . Quote Link to comment Share on other sites More sharing options...
TheNiche Posted October 19, 2006 Share Posted October 19, 2006 If you can afford to buy a couple of small homes, IMO take the risk. I bought two small "shacks" in that area and rent them out. I barely break even but have some equity with it. I beleive the pay off will be with' in a decade as the value of the property goes up and then I'll find the right time to sell it to a developer .Slumlording is actually a very good strategy. And there is potentially significant upside around UH which will result from future expansion plans. If your investment time horizon is at least 10 years, you'll definitely see significant appreciation in the area. If you can hold on for 20 years, all the better.I'm not sure that I'd buy lots, though, since shotgun shacks are often highly depreciated from the value of the property but still produce income in the interim. Quote Link to comment Share on other sites More sharing options...
LegoBuilder Posted October 20, 2006 Share Posted October 20, 2006 If you do not mind waiting it out, I would buy there.UH had an article in the Daily Cougar about there 30yr developmentplan to bring UH into a tier1 school, with campus life like UT Austin.I know investors from California have already started purchasing there. Quote Link to comment Share on other sites More sharing options...
N Judah Posted October 20, 2006 Share Posted October 20, 2006 30 year plan or no 30 year plan, that light rail coming through is going to have a pretty big impact. Quote Link to comment Share on other sites More sharing options...
HeightsGuy Posted October 20, 2006 Share Posted October 20, 2006 My European History teacher told me that many Riverside Terrace residents are elitist and do not want anything to do with their poor neighbors.The residents, according to my teacher, do not send their kids to the local public schools.Not trying to defend what I don't know about the residents, but if I could afford to live in Riverside Terrace, I doubt my children would be going to HISD either. Quote Link to comment Share on other sites More sharing options...
bobruss Posted January 30 Share Posted January 30 How times have changed in Riverside Terrace. Average home prices are over $500K and many are selling for over a million now. I'm happy to report that work has resumed on the Weingartens mansion. They took the brick off and are replacing with stone. It's going to be an amazing residence on one of the most incredible 5 acre properties in Houston. For anyone curious this is just a couple of blocks east of Scott. And how many neighborhoods are home to a pair of Bald Eagles. They live in Parkwood in a small but incredibly beautiful park of the same name. If you drive down South MacGregor towards Scott you can often see them up in a tall pine tree just across from the bayou where the corten pedestrian bridge crosses Brays. In The west end of the big white house garage at Rio Vista for anyone interested. Quote Link to comment Share on other sites More sharing options...
bobruss Posted February 10 Share Posted February 10 Hindesky next time your in the neighborhood you should swing by the Weingarten's estate at the corner of Oakhurst and South MacGregor and get some shots of this amazing estate under construction. It's as impressive as some of the other projects you shoot. I'd love to see some aerial shots of the property. 1 Quote Link to comment Share on other sites More sharing options...
hindesky Posted February 10 Share Posted February 10 1 hour ago, bobruss said: Hindesky next time your in the neighborhood you should swing by the Weingarten's estate at the corner of Oakhurst and South MacGregor and get some shots of this amazing estate under construction. It's as impressive as some of the other projects you shoot. I'd love to see some aerial shots of the property. Is it Oakhurst or Oakcrest? 1 Quote Link to comment Share on other sites More sharing options...
hindesky Posted February 10 Share Posted February 10 I don't really know where the Weingarten Estate is but I'm assuming it might be here. This looks like it's under construction. 1 Quote Link to comment Share on other sites More sharing options...
JClark54 Posted February 10 Share Posted February 10 @bobruss is right. It's a gorgeous property, if you're ever in the area and interested in documenting its progress. It's fairly set back from the roadway. It's 4000 S. MacGregor Way: https://www.har.com/homedetail/4000-s-macgregor-way-houston-tx-77021/9407433 1 Quote Link to comment Share on other sites More sharing options...
JClark54 Posted February 10 Share Posted February 10 The landmark designation report has some great details: https://www.houstontx.gov/planning/HistoricPres/landmarks/15L304_Weingarten_Mansion_400_S-MacGregor.pdf 1 Quote Link to comment Share on other sites More sharing options...
hindesky Posted February 10 Share Posted February 10 So it is next to Oakcrest Dr. as I suspected. 2 Quote Link to comment Share on other sites More sharing options...
bobruss Posted February 11 Share Posted February 11 Yes, it is. Sorry I wasn't paying attention to what I wrote 1 Quote Link to comment Share on other sites More sharing options...
hindesky Posted February 25 Share Posted February 25 @bobruss 3 1 Quote Link to comment Share on other sites More sharing options...
bobruss Posted February 27 Share Posted February 27 Thanks for taking some aerial shots. I was curious what the overall site looked like from above. You just caught the roof of my house on the next street over. They just finished cutting out 90% of the bush, trash trees, and some pretty large cedars over the last week. Just before you got there. I don't know if you saw it but just behind and a little southwest of the two story garage/guest quarters building is a small cemetery. I spoke with the super on the job last week and he said they are restoring the basement which was flooded during Hurricane Harvey, and that they are adding a large panel of leaded diamond shaped glass to the end window on the East end of the house. I thought the siding was Leuder's limestone but it is actually made of poured concrete squares. They took part of the roof back to rebuild the fireplaces and the reason they took the brick off originally was because the other contractors had not put flashing around the doors and windows. The new contractors wouldn't insure that it wouldn't have problems and the owner said he didn't like the brick anyway. I'm just thankful that they didn't stucco it. Appreciate all of the documentation. I hope you got a chance to see the Eagles across from the pedestrian bridge just west of Scott street. They are amazing. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.